China Press Review – March 18, 2020

Press review

Coronavirus: China handed chance to help shape international response as G20 calls emergency meeting
Group of 20 (G20) will hold an extraordinary virtual summit meeting next week in an effort to control the spread of coronavirus and its economic impact    On Wednesday, China reported just one new domestic case, with the rest of the world still combating rising cases and deaths as well as economic damage

Coronavirus: global recession in 2020 now seen as guaranteed as outbreak ravages Europe, US
Hope for rapid global economic recovery has faded, with some analysts predicting the downturn may last until next year    Escalation of containment measures in Europe and the US, along with weak Chinese economic data, are seen as tipping points in the outlook for the economy

Coronavirus: will Donald Trump blame China for expected global recession in 2020?
Donald Trump tweet on Monday noted that Washington will support those US industries hit by the ‘Chinese virus’ outbreak    Analysts suggest that while China engaged in early cover up of virus, US initial response failure may render blame game ineffective

Asian stock markets revert to declines as buzz from cash hand-outs gives way to pessimism about worsening coronavirus outbreak
Tencent, Alibaba, AAC Tech, Sands China are among losers of more than 4 per cent     Hang Seng lost nearly 1,000 points

As markets panic over coronavirus pandemic, the US dollar is king – for the time being
Investors’ dash for cash prompted market sell-offs last week, as US dollar liquidity is critical to the functioning of the global financial system. But looking beyond the crisis, too much liquidity could give rise to asset price inflation

Coronavirus-wary investors could learn from Franklin D. Roosevelt and inoculate themselves against fear
Investors must digest the health data, gauge the impact of the spread of Covid-19 on growth and earnings and, most importantly, keep their emotions in check

Coronavirus Causes A Dramatic Collapse Of China’s Economy
The flip side of a large government stimulus is that it’s going to weaken China down the road, Green says, making the economy less efficient and less sustainable.  Meanwhile, analysts say March will be a decisive month in terms of whether an economic recovery can be expected in the first quarter.

Global airline industry needs aid of up to US$200 billion to survive coronavirus pandemic, says IATA
Pandemic is likely to reshape the industry, with many airlines failing, others consolidating and entirely new groupings emerging, says IATA’s Alexandre de Juniac   Governments around the world are actively exploring options to save airlines, with Italy’s plans to re-nationalise Alitalia among the most advanced

Keeping Your Business on Track During the Coronavirus Outbreak
The coronavirus outbreak, which is severely affecting business operations around the globe, was recently declared a global pandemic by the World Health Organization. C.H. Robinson continues to monitor the situation in the U.S. and globally, staying close to our contract carriers and discussing continuity plans in the event shipping trajectories need to be adjusted due to disruptions or closures at any ports. Although this is not the first or the last event to disrupt global supply chains, unpredictable logistics require a proactive approach for importers and exporters to keep business running as usua

Chinese electric car maker Xpeng gets green light for P7 road tests in US as it readies to take on Tesla
The P7 electric sports sedan is Xpeng’s second production model and has a driving range of about 706km per single charge

Shanghai Fashion Week Goes Digital: What to expect
Shanghai Fashion Week on Wednesday unveiled the official schedule and lineup for its autumn-winter 2020 edition, in what will likely be the world’s first fashion-week event to livestream its entire roster of runway shows    All showcases will be broadcast from March 24-30 via Tmall, Alibaba Group’s e-commerce platform. These include fashions from big-name international brands, such as Diane von Furstenberg, along with homegrown indie designers, like Chen Peng and Angel Chen.

Alternatives to China: Where is the Manufacturing Capacity?
With China now recovering from the COVID-19 outbreak, it has spread to other countries in what is now termed a pandemic by the WHO. What was, a month ago, a call for relocating China manufacturing elsewhere is now becoming complicated as HQ bean counters look for where other alternatives lie.

Jack Ma Foundation and Alibaba Foundation ramp up coronavirus aid to Europe
Belgium, the first European partner of the Alibaba-led Electronic World Trade Platform, has been instrumental in facilitating the delivery of medical supplies amid the coronavirus outbreak. In particular, the smart logistics hub at Liege Airport in the Wallonia region has played a crucial role in the distribution of provisions to communities in the EU most affected by the virus.

Jack Ma Foundation publishes handbook, shares China’s experience in battling Covid-19
Alibaba Group founder Jack Ma’s namesake philanthropic foundation collaborated with a hospital in China to publish an informational handbook about the hard-won lessons from its experience in treating patients with Covid-19, the viral disease that has been declared as a pandemic by the World Health Organization.

China seeks to step up support for European countries worst hit by coronavirus
Xi Jinping has already to spoken to the leaders of the two worst affected European countries, Italy and Spain, to promise medical supplies   In contrast to the offer to help Europe, Beijing’s relationship with the US is deteriorating further during the Covid-19 outbreak

Coronavirus: Germany’s Angela Merkel plays down China’s providing medical supplies to hard-hit European countries
‘What we are seeing here is reciprocity,’ the German leader says, referencing the EU’s aiding stricken China earlier this year    But critics dismissed China’s show of largesse as propaganda designed to deflect US claims that the contagion originated in China

Coronavirus: China moves to shore up lending to cash-strapped firms with new provincial oversight offices
Financial Stability and Development Committee, which oversees Chinese financial regulation, has opened eight provincial offices   The agency, chaired by Vice-Premier Liu He, will help local authorities revive regional economies hit by the coronavirus

Coronavirus: China must keep out imported cases so it can focus on seriously ill patients, expert says
As large numbers of people with only mild symptoms are discharged from hospital, medical teams can concentrate on those most at risk   But 12 of 13 cases reported on Wednesday were brought into the country from overseas

Coronavirus: Asian nations face virus battle amid WHO warning
Many Asian nations are facing an increasing battle to stem the spread of coronavirus, amid a World Health Organization warning that some needed to take “aggressive measures”.

Should Chinese Idols And KOLs Try To Help Fight COVID-19?
The Chinese Communist Party Youth League received an unexpected backlash on Weibo last month after the launch of its anime idols. “Instead of spending time crafting idols, I’d rather see you make some real contributions to help Wuhan,” said one angry Weibo post. Other users expressed similar negative feelings in their posts, and after much online resistance, the Youth League removed its posts featuring the avatars.

The coronavirus epidemic is a warning for Hong Kong, and others, to prepare for the reality of an ageing world
Because the coronavirus disproportionately affects people over 65, health care systems in countries with large elderly populations are struggling to cope   The epidemic should prompt governments to think through how policies such as social distancing affect the elderly and to bolster health care systems well in advance

Coronavirus: from vaccines to getting back to work, China turns to science for answers to the big questions
Beijing issues report calling for scientists to prioritise development of drugs and treatments to help critically ill patients   Science ministry says it has also commissioned research to help businesses resume operations and to prevent new infections being imported into the country

Coronavirus: China’s income inequality could expand in 2020 as outbreak rattles world’s No 2 economy
Income inequality in China could expand in 2020 as the impact of the coronavirus outbreak ripples through the economy   Poor Chinese are likely to be disproportionately hit, both in terms of lost earnings and their ability to withstand risk, a new survey shows

Banks tighten scrutiny of mortgage loans to workers as jobs in virus-hit sectors on the line
Lenders have become less inclined to approve mortgage applications from borrowers working in the retail and tourism sectors, analysts say    Banks see those industries as most vulnerable to job losses as the health crisis crimps demand for their services

China Vanke, mainland’s second largest developer, says coronavirus is making survival difficult for the sector
China Vanke says there will be a delay in handing over about 39,000 homes to buyers this year amid construction delays   Developer has lost out on US$7.3 billion in sales since January, with zero sales in the epicentre of Hubei province

Coronavirus: Hubei’s migrant workers ‘living in fear’ as debts mount under lockdown
Sweeping coronavirus containment measures, including transport restrictions, have trapped nearly 60 million people in Hubei province     Among them are scores of rural migrant workers who are struggling to pay debts because they have been unable to return to their jobs

China developing 9 potential vaccines in global race for coronavirus cure
Company making front-runner appeals for people to take part in trial stage, which nine potential Chinese vaccines are set to enter in April    US trialling vaccine that copies virus’ genetic code, amid international search for a drug to help limit the outbreak’s human and economic impact

In disputed South China Sea, Asean claimant states are neither friends nor foes
Competing claims over maritime jurisdiction in the strategic waterway have been a source of distrust and tension in the region     Despite a shared rival in China, the Philippines, Malaysia, Vietnam and Indonesia have separate issues of sovereignty and territorial rights that make the issue deadlocked

As China-US relations continue to sour, Beijing says expulsion of American reporters may just be the start
If Washington ‘continues on the wrong track, China will be forced to take further countermeasures’, foreign ministry spokesman says   Comment comes after US Secretary of State Mike Pompeo says he hopes Beijing will reconsider its

Chinese Shocked, Awed by UK’s ‘Darwinian’ Coronavirus Strategy
Some are impressed by the cold pragmatism of letting natural selection take its course, while others see it as an insult to the Chinese medical workers who lost their lives fighting on the front lines.

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