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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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Tuesday, 07 January 20
BHP EYES INDIA FOR COAL GROWTH AS CHINA DEMAND FLATLINES - SYDNEY MORNING HERALD
Australia’s largest miner, BHP, believes the long-term trajectory of the emerging economy of India and the acceleration of its steelmaking ou ...
Sunday, 05 January 20
BUNKER QUALITY CLAIMS IN 2020 - ISSUES TO CONSIDER - CLYDE&CO
KNOWLEDGE TO ELEVATE
In recent years the shipping industry has faced a significant number of bunker quality claims, most notably ari ...
Saturday, 04 January 20
SUPRAMAX: A 53,000DWT VESSEL FIXING DELIVERY INDONESIA TRIP TO CHINA AT $4,000 AND A 58,000DWT SHIP FIXING DELIVERY EAST KALIMANTAN TRIP TO THAILAND AT $5,500 - BALTIC BRIEFING
Capesize
The New Year started with an erosion on pre-Christmas rates as the higher low sulphur fuel costs due to IMO 2020 affected levels. From ...
Thursday, 02 January 20
DMO 2020 PRICE SET FOR ELECTRICITY SECTOR - IAN WOLLFF
On the 26th December 2019, the Minister of Energy and Mineral Resources (ESDM) issued the decree No. 261.K/30.MEM/2019 about the States needs for c ...
Thursday, 02 January 20
SULPHUR 2020 COMPENDIUM - HOW ARE INDIVIDUAL PORT STATES EXPECTED TO REACT? - STANDARD CLUB
KNOWLEDGE TO ELEVATE
With the new sulphur limits soon to be in force, Standard Club has been investigating the ways in which certain jurisdict ...
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Showing 1211 to 1215 news of total 6871 |
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- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
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