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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, 17 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country’s ...
Wednesday, 16 October 19
INDIA CALLS FOR A RESET OF CLIMATE DEBATE ON COAL AS A FUEL - LIVEMINT
India on Tuesday called for a reset on climate debate on coal as a fuel, in the backdrop of India becoming one of the top renewable energy producer ...
Wednesday, 16 October 19
LESSONS LEARNT FROM CREW INJURED IN HEAVY WEATHER - UK P&I CLUB COMMENTS
KNOWLEDGE TO ELEVATE
Stuart Edmonston, Loss Prevention at UK P&I Club, discusses an incident in which crew were injured whilst on deck in ...
Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with re ...
Tuesday, 15 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country's Co ...
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Showing 1311 to 1315 news of total 6871 |
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- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- CNBM International Corporation - China
- MS Steel International - UAE
- Chamber of Mines of South Africa
- VISA Power Limited - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
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