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Friday, 14 February 20
WHY THE WORLD ECONOMY WILL BE FACING CHINA'S CORONAVIRUS FOR A LONG TIME - CNBC
 Everywhere we look we see the headlines and commentators talking about the coronavirus and its impact on tourism, trade and investment between China and the West — and China and the U.S., in particular. However, there are far-reaching effects that have not been contemplated fully beyond the intuitive assessment.
Things move slowly. China has long been known as a country with patience, which in business language translates to longer lead times in the transactional arena, sometimes exhaustive negotiations, and relationships are built over time. Many of these relationships are created in the environment of trade shows, conferences, information exchange platforms, and trade delegations. China has finely tuned this method of cross-border introductions and it is a continuous process.
Combined with this is the growth of the multinational business presence in China. Major retailers, manufacturers, pharmaceuticals, biotech, automotive and other sectors are firmly planted in China with technology and personnel. Now, with the essentially closed border with China, the rest of the world waits and watches. To the business community, this is unsettling, to say the least, because there is no accurate predictor of when a vaccine may be found or when the world threat eradicated. Even when those pronouncements are ultimately made by Beijing there is the inherent distrust of information disseminated by the Chinese government.
So what does all of this mean for cross-border business in the short and long term?
An aerial view reveals that the movement of people and technology and deal closure have simply come to a halt. When the Chinese government, or other governments, or the WHO pronounce that it is safe to travel to China again, that will not be the end of it. There has been a worldwide reaction to the scare. The tradeshow and related cancellations have occurred not only in China but throughout Asia and into Europe. Therefore, a wide swath of activities are upended across all business sectors.
The rate of new cases slowed on Wednesday. As of this writing, there have been more than 45,000 cases of Covid-19 and over 1,100 deaths. Businesses from cruise ships to luxury brands and air travel, as well as global markets like oil, have all been hit. There can be no question that it will be a slow and painful process moving back to normalcy. Professional offices remain closed indefinitely, and 90% of businesses are closed or at dramatically reduced hours. Theaters, factories and others where people congregate are closed.
We are all familiar with the recent comparisons of coronavirus with SARS, but there is no real comparison. SARS was perceived as essentially a Hong Kong-centric event and everyone wondered if that would be the death of the HK economy, coming a few years after the handover. Moreover, social media and its impact on global interaction were just launching, and China’s interaction with the world economy was in its infancy.
Transparency will be the key to short term confidence which will lead to a long-term recovery. This is despite short-term pain and embarrassment. All governments can learn a lesson from this, but Beijing has yet to learn it. It may very well be that Wuhan, as ground zero for the Coronavirus, never recovers. The headlines today paint Wuhan as a pariah city, in a wartime battle and in lockdown. The Chinese Chernobyl. These characterizations will not be easily shed. Wuhan, as the capital of Hubei province, has positioned itself as a foreign investment hub and has developed trade, manufacturing and export and development zones to highlight its growth and position within China. Companies will have to assess whether or not their investments should remain in Wuhan or be moved.
Considering China’s impact on the world economy, China will not be off limits to future investment forever. Instead, there will be wariness and unbridled caution for the foreseeable future. Businesses will seek alternatives to avoid commercial and liability issues.
In the best case, returning to normal is not a reasonable expectation in the short term. In the long term, China must take all steps necessary to demonstrate its commitment to transparency regarding all factors relating to the virus. In today’s economy, there are many alternatives for trade and investment and China must recognize that its global trade partners need regular and repeated reassurances. Additionally, China will need to inject substantial financial incentives into the economy to balance against commercial and optical risks.
In the best of circumstances, this process will take six to nine months to see the way forward to a stable and commercially feasible reintroduction of business, confidence and renewed investment. This will require unrelenting adjustments as events require. There is no single action or vaccine that will erase the impact of the coronavirus. A group of actions are needed to restore the zeal and excitement for consumer, business, investment and tourism.
Anything less will create a lingering atmosphere of caution and distrust.
Source: CNBC
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Thursday, 05 March 20
SEABORNE COAL'S STRUGGLES IN ASIA ARE MORE THAN JUST CHINA CORONAVIRUS - REUTERS
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
Thursday, 05 March 20
INDONESIA'S BUKIT ASAM 2019 OUTPUT RISES 10.2% Y/Y - REUTERS
PT Bukit Asam, Indonesia’s state-owned coal miner, said on Wednesday its output in 2019 rose 10.2% to 29.1 million tonnes.
Coa ...
Thursday, 05 March 20
SEEING REMOTELY - IN SAFETY: BUREAU VERITAS PERFORMS FIRST SURVEY BY DRONE - BUREAU VERITAS
Bureau Veritas Marine & Offshore (BV), a world leader in testing, inspection and certification (TIC) services has completed its first survey by ...
Wednesday, 04 March 20
AN EPIDEMIC OF UNCERTAINTY - THE CORONAVIRUS AND FORCE MAJEURE - WFW
KNOWLEDGE TO ELEVATE
Do the effects of the coronavirus give rise to legitimate force majeure claims in connection with shipbuilding contracts ...
Wednesday, 04 March 20
CHINA IMPORTED 76.8 MLN TONNES OF CRUDE OIL FOR JANUARY & FEBRUARY 2020; UP 3.4% YOY - REFINITIV | BC
The COVID-19 crisis has been gripping China already for almost two months now. It’s having a huge negative impact on the economy, and this is ...
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- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Australian Coal Association
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
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