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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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Wednesday, 08 January 20
WHAT IS BIMCO THINKING ABOUT 2020? - BIMCO
Every year, BIMCO considers what is in store for the shipping industry and for BIMCO in the coming years, while also reflecting on the year gone by ...
Wednesday, 08 January 20
VINACOMIN SETS TO SELL 49 MILLION TONNES OF COAL IN 2020 - VIETNAM NET
The Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin) has set to sell 49 million tonnes of coal in 2020, a year-on-y ...
Wednesday, 08 January 20
CHINA'S COAL-RICH PROVINCE CUTS 18.95 MLN TONNES OF CAPACITY IN 2019 - XINHUA
North China’s Shanxi Province reduced its coal production capacity by 18.95 million tonnes by closing 18 coal mines in 2019.
A ...
Wednesday, 08 January 20
JANUARY INDONESIAN COAL PRICE REFERENCE SLIPS US$ 0.37 MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Tuesday, 07 January 20
CLEANER AIR IN 2020: 0.5% SULPHUR CAP FOR SHIPS ENTERS INTO FORCE WORLDWIDE - EUROPEAN COMMISSION
From 1 January 2020, the maximum sulphur content of marine fuels is reduced to 0.5% (down from 3.5%) globally – reducing air pollution and pr ...
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- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- MS Steel International - UAE
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Vedanta Resources Plc - India
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