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Essay : Corona-virus : It’s financial & diplomatic effect

Corona-virus : It’s financial & diplomatic effect

Introduction : Corona means SUN in Chinese language. Sun every day makes this world green for us but corona makes our lives hell every day around the world. Every moment new outbreaks are seen and heard. New life is costed by moments. By now it has become a deadly threat to humankind in modern days. Scientists all over the globe are trying to limit and vanish the corona (COVID-19) virus but no big hope so far. Chinese President Xi Jinping has called the coronavirus the ‘largest public health emergency’ since the founding of communist China. The virus was first detected in late December in mainland China, and In Italy, the worst-affected country in Europe. While coronavirus has spread to more than two dozen countries across the world, the vast majority of cases are in mainland China. 

History of Corona-virus : Coronaviruses were discovered in the 1960s. This virus has killed two people – a man and a woman in their 70s – and infected another 113. 

About the Corona-virus : A novel coronavirus is a new blend of coronavirus that has not been previously identified. The virus causing coronavirus disease 2019 (COVID-19), is not that same as the coronaviruses that commonly circulate among humans and cause mild illness, like the common cold. Patients with COVID-19 will be evaluated and cared for differently than patients with common coronavirus diagnosis. In COVID-19, ‘CO’ stands for ‘corona’, ‘VI’ for ‘virus’, and ‘D’ for ‘disease’. Formerly, this disease was referred to as ‘2019 novel coronavirus’ for ‘2019-nCoV’

Spreading from sick to others : The virus that causes COVID-19’ is spreading from person-to-person. Someone who is actively sick with COVID-19 can spread the illness to others. 

Source of spreading : Coronaviruses are a large family of viruses that are common in many different species of animals, including camels, cattle, cats, and bats. Rarely, animal coronaviruses can infect people and then spread between people such as with MERS-CoV, SARS-CoV, and now with this new virus (named SARS-CoV-2). Early on, many of the patients in the COVID-19 outbreak in Wuhan, China had some link to a large seafood and live animal market, suggesting animal-to-person spread. Later, a growing number of patients reportedly did not have exposure to animal markets, indicating person-to-person spread. 

Is package or products shipping from China risky? : There is still a lot that is unknown about the newly emerged COVID-19 and how it spreads. There is likely very low risk of spread from products or packaging that are shipped over a period of days or weeks at ambient temperatures. Coronaviruses are generally thought to be spread most often by respiratory droplets. 

Will warm water stop the outbreak of COVID-19? : It is not yet known whether weather and temperature impact the spread of COVID-19. Some other viruses, like the common cold and flu, spread more during cold weather months but that does not mean it is impossible to become sick with these viruses during other months. At this time, it is not known whether the spread of COVID-19 will decrease when weather becomes warmer. 

COVID-19 and animals : CDC does not have any evidence to suggest animal products imported from China pose a risk for spreading COVID-19 in the United States. This is a rapidly evolving situation and information will be updated as it becomes available. The U.S. Centers for Disease Control and Prevention (CDC), the U.S. Department of Agriculture (USDA), and the U.S. Fish and Wildlife Service (FWS) opined that animal products possibly will have no risk. 

Death tools latest : The rate of infection in China is lessened day by day so the death. China had 150 new confirmed coronavirus deaths on Sunday (23.02.2020), the National Health Commission announced on Monday, pushing the death toll nationwide to 2,592 and number of infections is 80 thousand. The coronavirus has spread to at least 28 other countries. Japan has 607 cases, including 542 from a cruise ship docked in Yokohama, and has recorded three deaths. There has also been death in Hong Kong, Taiwan, France, Iron, and the Philippines. There have been nine recorded cases and no fatalities to date in the UK. 

Effected area and number : The Wuhan coronavirus has spread throughout the world since the first cases were detected in central China in December. There are now more than 440 confirmed cases in over 25 countries and territories outside mainland China. 

Development on coronavirus : After the outbreak of corona-virus the scientist especially the WHO is trying their best to protect and limit the virus. The following are the developments. 

Australian researchers claim breakthrough in containing corona-virus : Experts from the New South Wales Health Pathology lab in Australia have successfully grown the live corona-virus from NSW patients – rather than synthetic specimens – according to a health ministry statement. 

Daily deaths have fallen back in China : The number of death announced each day has returned to where it was before the recent change in diagnosis. Mainland China had 97 new confirmed coronavirus death on Sunday, the National Health Commission said it is less than the previous day. In a statement, the commission also confirmed 409 new infections during the same period, down from 648 reported a day earlier. 

Corona-virus symptoms : Headache, Cough, Shortness of breath breathing difficulties, muscle pain, fever and tiredness, Virus seems to start with a fever, followed by a dry cough and then after a week leads to shortness of breath and some patients needing hospital treatment. 

How to protect Corona-virus : The WHO is advising people in affected areas to follow standard procedures to reduce the change of catching the virus. 
  1. They include hand and respiratory hygiene as well as safe food practices. 
  2. People are advised to avoid close contact with people suffering from acute respiratory infections; wash hands regularly avoid contact with farm or wild animals. 
  3. Avoiding eating raw or undercooked animal products is also advised. 
  4. Those with symptoms should practice “cough etiquette”, including maintaining distance, covering coughs and sneezes with disposable tissues or the inside of an elbow, and washing hands. 
  5. Protective face masks are in widespread use – both among the general population and medical staff. 
Financial effect of Bangladesh : With the serious outbreak of Corona-virus in China and around the world the business and trade of Bangladesh is suffering the most with the time the effect is being evident : 
  1. Import of Motor parts and other commodities are record low in the month of Jan 2020 it is 6.72 lac tones but last year Jan it was 8.92 tones. 
  2. Export suffers : Export of live crab and Kuchia to China have been stopped till one month, the farmers are being workless. 
  3. Import of raw materials and accessories hampered : Our ready-made garments are heavily depending on Chinese raw materials are accessories for coronavirus the import is stopped and we can’t export products in US and EU countries. 
  4. Garments sector orders are going to Vietnam and Sri Lanka and Myanmar as Bangladesh can’t supply the order with the time of coronavirus. 
Financial Effect : The coronavirus is already hurting the world economy. China has become an indispensable part of global business. 
  1. Amazon and Sony cut their new projects : Tech giants Amazon and Soy are the latest firms to pull out of Mobile World Congress, one of the world’s biggest annual business conferences amid the coronavirus spread. 
  2. The latest withdrawals follow Ericsson and LG Electronics, who announced last week they also wouldn’t attend the event. 
    • Food, which makes up nearly a third of spending by Chinese consumers, is spiking the most : Pork – a mainstay in the Chinese diet that is already under pressure because of a devastating pig disease – skyrocketed a staggering 116% compared to a year ago.
    • Vegetables were 17% more expensive. Other items saw modest price rises by comparison : Health care was 2.3% more expensive, for example, while clothing prices rose 0.6%.
    • The statistics bureau acknowledged the role coronavirus played in causing prices to surge. 
  3. Kia & Hyundai Motors suspends production : Kia and Hyundai Motors suspended nearly all production lines at its three South Korea factories today. 
  4. Outbreak hits auto industry : China is a major supplier of parts to auto plants around the world – shipping nearly $35 billion worth of parts in 2018. But plants across China have been closed for weeks in response to the coronavirus outbreak and that could mean factories around the world grinding to a halt. 
  5. Plants are closing across Asia : So far most of the auto assembly plants in China are closed; Volkswagen announced it was keeping its Chinese auto plants shut partly due to travel restrictions there and party due to the lack of parts. 
  6. Authorities to suspend Venice Carnival Venice’s famous carnival is going to be suspended due to the new coronavirus outbreak in northern Italy, the President of the Veneto Region Luca Zaia has said. 
  7. The HSBC Women’s Golf World Championship scheduled to be held in Singapore from February 27 to March 1 has been canceled, with organizers citing ‘continued health concerns.’ 
Diplomatic effect : The potential economic diplomatic impact : As China struggles to contain the spread of the epidemic, the immediate impact of the coronavirus crises is already upon us. 

1. Boarder closing with China : Some countries have closed their borders to Chinese nationals altogether. And, in some quarters, there has – perhaps inevitably – been unpleasant and quite unfair stigmatization of China and the Chinese. 

2. Tourism Shipping airlines suffer : In the first place those industries that depend upon the movement of goods and people – tourism, airlines, the operators of cruise ships, and commercial shipping lines are ready suffering. 

3. Technological ‘cold war’ : How could the fallout from the corona-virus impact the key relationship between Beijing and Washington? And with clear signs of a technological ‘cold war’ already developing between the US and China – the battle over 5G and artificial intelligence – could the tensions surrounding the virus outbreak make things worse? 

4. Re-shifting US enterprises : US have long been thinking about reducing supply chain exposure to China given increasing trade hostilities, in addition to a Chinese labour force that is increasingly expensive and inefficient. US companies may now have the excuse they need to actually make that move. That's obviously an extreme example, but it's a very real prospect down the line, the longer corona-virus continues to cause mayhem.

5. Russia US row : Russia has flatly denied allegations that it is spreading disinformation about the new coronavirus outbreak on social media. US officials said Russian-linked accounts were making unfounded claims that America started the outbreak. Thousands of profiles on Twitter, Facebook and Instagram were peddling the theory, the officials said. Responding to the allegations on Saturday, the Russian foreign ministry dismissed them as “fake”

6. China-US critical relation is at risk : Conspiracy theories have also featured heavily on the Channel One’s main political talk show. It suggested that various Western actors pharmaceutical companies, the US or its agencies are somehow involved in helping to create or spread the virus, or at least in spreading panic about it. This allegation may further muddy the critical bilateral relationship between the countries after a trade row last months. 

Latest on Corona : 
  1. Number of infections jump to 602 in South Korea, with five deaths. 
  2. Israel may quarantine 200 South Korean visitors in army base. 
  3. Iran says it has 43 infected, with eight deaths by now. 
  4. China says 8.2% of coronavirus patients are cured by their treatment in their hospitals. 
Conclusions : The epidemics are not new in human history. This temporary blow will come to an end soon. But its mark on our and global economy will remain as a foot mark. We should not rely on any country so heavily for any industrial commodity like garments. We should not be panicked but take proper precautions to stop the spreading of the virus in Bangladesh.

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