Economic implications of a SARS/Coronavirus outbreak

[SirRumpole]

It is good for business to have a return to work as soon as reasonably safe to do so, that is obvious. I wonder about getting back to a safe environment, where I think Australia is doing a lot better than most, would that be good for business too from an international perspective? Would Australia become a place of choice for safer tourism, a 'safer' place to live?

Interesting thought. Some businesses may decide to move here, others may think that this is a once in 100 year event and it's not worth their while relocating.

 

[Smurf1976]

I wonder about getting back to a safe environment, where I think Australia is doing a lot better than most, would that be good for business too from an international perspective? Would Australia become a place of choice for safer tourism, a 'safer' place to live?

We could also see that effect within the country if one state or region does far better than another. I mean that in terms of both containing the virus and people being happy with the measures used to do so.

Regarding the latter point there's a stark contrast between Victoria's "zero tolerance law enforcement" approach to it versus SA's "just be a good egg and do the right thing" approach.

 

[moXJO]

Interesting to see Singapore numbers are jumping due to "complacency" (among other things).
Not a good sign.

 

[frugal.rock]

The yearly Priceline Pharmacy conference was going to be in Singapore this year.
Cancelled.
Dumb idea anyway.
Spend the money in Australia anyway, I say.
As a tag along, have got to see Perth and Brisbane out of their conferences. Darwin next please !
Otherwise maybe I will never never know....

F.Rock

 

[SirRumpole]

Apparently 2/3 of our economic growth was due to migration.

How is that going to work out now ?

Looks like we may actually have to get off our butts and rely on ourselves for quite a while.

 

[Knobby22]

Apparently 2/3 of our economic growth was due to migration.

How is that going to work out now ?

.

Our immigration rate on a per capita basis and in sheer numbers has been the highest in our history.

No immigration for a while is a good thing to stabilise our society and let the infrastructure catch up.

It's been ridiculous lately in Melbourne. Building works everywhere and adding 1 million population every 5 years.

 

[sptrawler]

Just had a thought, what information do people have to give, to access the unemplyment benefits? I wonder how much data the ATO will obtain on the gig economy and how much the cash economy really represents.

 

[basilio]

South Dakota pork plant closes after over 200 workers contract Covid-19
About 240 employees at the plant contracted the virus, making up over half of the state’s positive cases

A major pork manufacturing plant in South Dakota has indefinitely shut down after more than 200 of its employees contracted Covid-19.

According to Smithfield, who runs the plant, the facility’s output represents up to 5% of US pork production, supplying 130m servings of food a week and employing 3,700 people. Over 550 independent farmers supplied the plant.

....In a statement, Smithfield’s chief executive, Kenneth Sullivan, warned of “severe” repercussions to the meat supply chain if more manufacturing plants see similar spreads of Covid-19.

“The closure of this facility, combined with a growing list of other protein plants that have shuttered across our industry, is pushing our country perilously close to the edge in terms of our meat supply,” Sullivan said in the statement. “It is impossible to keep our grocery stores stocked if our plants are not running.”

Other meat manufacturers similarly shut down plant operations after multiple employees contracted Covid-19.
https://www.theguardian.com/us-news...nt-closes-after-200-workers-contract-covid-19

 

[matty77]

Well Bunnings had a record weekend sales wise... go figure....

Some stores had lines up where people were waiting 2-3 hours to get in.

 

[againsthegrain]

Well Bunnings had a record weekend sales wise... go figure....

Some stores had lines up where people were waiting 2-3 hours to get in.

Already people are trying to sue China

 

[hja]

Already people are trying to sue China

Well if they refuse to close down those wet markets dealing in exotic, jungle beasts, every country will have to build a Great Wall around China. Otherwise SARS and COVID will be just the beginning of the CCP epidemic.

 

[rederob]

Well if they refuse to close down those wet markets dealing in exotic, jungle beasts, every country will have to build a Great Wall around China. Otherwise SARS and COVID will be just the beginning of the CCP epidemic.

When were you last in China?
Me, late last year for 7th time in total, over 25 years.
Wet markets in many villages are an essential part of life.
I am shocked by what some markets have available, and I hope over time international pressure brings a semblance of "acceptability" to what is available. However, these were not the norm that I experienced as the really exotic stuff only seemed to be sold in the big cities rather than villages.
And while COVID-19 will be unpleasant around the world, maybe we need to reflect on these statistics:

I have always been more fearful jumping into a car and heading off than anything else, as I have stayed fit and eaten healthily in the hope the other principal causes of preventable death would not come into play.

 

[hja]

When were you last in China?
Me, late last year for 7th time in total, over 25 years.
Wet markets in many villages are an essential part of life.
I am shocked by what some markets have available, and I hope over time international pressure brings a semblance of "acceptability" to what is available. However, these were not the norm that I experienced as the really exotic stuff only seemed to be sold in the big cities rather than villages.
And while COVID-19 will be unpleasant around the world, maybe we need to reflect on these statistics:

I have always been more fearful jumping into a car and heading off than anything else, as I have stayed fit and eaten healthily in the hope the other principal causes of preventable death would not come into play.

I've been to China and seen the array of insects and meats sold in Beijing. It's nothing to boast about seeing so many times.
Well as you should know, those convenient "stats" are irrelevant... if you're really concerned about COVID-19 surpassing those in your little list there, you'll have to give it more time if it gets out of control.
Again your last paragraph is completely out of context and unrelatable to what's going on around you. It's not like most people will get to travel around as much in car for the next few months anyway; so much for that example.

 

[Smurf1976]

Well if they refuse to close down those wet markets dealing in exotic, jungle beasts, every country will have to build a Great Wall around China. Otherwise SARS and COVID will be just the beginning of the CCP epidemic.

Given that China is basically trying to prompt a conflict over this, we'd be wise to understand exactly what their motivations and thinking are before we respond.

If someone actually wants conflict, and that seems rather obvious, then they probably don't expect to lose from it.

 

[hja]

Given that China is basically trying to prompt a conflict over this, we'd be wise to understand exactly what their motivations and thinking are before we respond.

If someone actually wants conflict, and that seems rather obvious, then they probably don't expect to lose from it.

Of course I meant that in the figurative sense to basically mean the same as what you imply: to wait and see.
Well I'm not sure who you refer to in your last sentence.

 

[Dona Ferentes]

The Australian is running with some numbers departing these shores in the last few months.

In the first 3 months of the year, 260,000 temporary visa holders departed, and a further 50,000 in the first two weeks of April (these numbers include tourists, temporary workers and students)

Now if economic health, growth, (those 'wonderful' numbers economists like to trot out) is dependent on the 3P's
1. Population
2. Participation
3. Productivity
then we're in for a rough trot, because #'s 2 and 3 are likely to be lower, as well. Of course, Australians resident OS have returned in some numbers.

The Budget has net overseas immigration at nearly 800,000 over the next 3 years, clearly not going to happen. There are an estimated 150,000 foreign workers here still.

 

[Smurf1976]

I'm not sure who you refer to in your last sentence.

As a general statement - anyone.

If someone, anyone, actually wants a fight then they probably aren't expecting that they're going to lose.

The Chinese government aren't fools, they're long term strategic thinkers. In re-opening these markets they know full well that's going to prompt a degree of outrage in other countries, particularly Western ones, so presumably there's some grander strategy there.

 

[hja]

As a general statement - anyone.

If someone, anyone, actually wants a fight then they probably aren't expecting that they're going to lose.

The Chinese government aren't fools, they're long term strategic thinkers. In re-opening these markets they know full well that's going to prompt a degree of outrage in other countries, particularly Western ones, so presumably there's some grander strategy there.

Provocation and a show of self-determination to assert their sovereignty, I suppose. But it's not really necessary given their size and power now and in the long term.

 

[againsthegrain]

Provocation and a show of self-determination to assert their sovereignty, I suppose. But it's not really necessary given their size and power now and in the long term.

Either that or trying to bluff your enemy into submission

 

[Sdajii]

Well if they refuse to close down those wet markets dealing in exotic, jungle beasts, every country will have to build a Great Wall around China. Otherwise SARS and COVID will be just the beginning of the CCP epidemic.

Some people seem to think China is the only country with wet markets. We markets are common right across Asia. I've spent around 6 years in Asia (I am trapped in Australia because I happened to be here for a 2 week visit at the time the travel bans came into place, which has utterly destroyed my 10 year plan and put me in a terrible situation), I routinely shopped at wet markets from India to Vietnam, Laos to Malaysia and everywhere in between (and yep, I've seen, bought and eaten a huge variety of things from them including bats). I've been close to the border but never actually into China. There is plenty of evidence which says this virus didn't originate at the wet market, including the face that people were being infected with it *before* it first arrived at the wet market. Amusingly, the official story is that the virus came from horseshoe bats, a type of bat which has never been sold at the wet market in question and doesn't occur anywhere within a thousand km from the wet market. However, it is open, public knowledge that the nearby virus research laboratory (where the original patients were right next to, and much closer to it than the market) was working on horseshoe bat coronaviruses. Yet they still push the wet market story!