20/04/2020
BRUSSELS (Reuters) – The euro zone’s trade surplus with the rest of the world grew in February, with a decline in imports from China as well as sharply lower energy needs because of mild winter weather.
The unadjusted goods trade surplus grew to 23.0 billion euros ($25.1 billion) in February, compared with 18.5 billion euros a year earlier. Exports rose by 1.6%, while imports fell by 1.0%.
For China, which already had widespread coronavirus restrictions in place in February, exports from the European Union as a whole were slightly lower than in February 2019. However, imports were down by 8.1%, according to data on Eurostat’s website.
Energy imports as a whole also declined by 9.6% in February, when comparing Jan-Feb data issued on Monday and January data from a month ago. That translated into 10.1% lower imports from Russia and 5.9% less from Norway.
The trade surplus with the United States, by contrast, grew by 21% in the month as exports increased and imports declined. The persistent surplus in goods has been a source of transatlantic tension.
On a seasonally adjusted basis the euro zone trade surplus also rose to 25.8 billion euros in February from 18.2 billion euros in January. Exports were 1.8% higher month-on-month and imports 2.3% lower.
Source: Reuters
Posted in 2019, according, adjusted, already, basis, because, billion, Brussels, by contrast, China, compared, comparing, Data, decline, declined, earlier, energy, Euro Zone, European Union, euros, Eurostat’s, exports, February, Fell, from, goods, grew, grows, has been, higher, However, imports, in place, increased, January, lower, mild, Monday, month, month-on-month, needs, Norway, persistent, rest of the world, restrictions, Russia, seasonally, sharply, slightly, source, surplus, tension, trade surplus, transatlantic, translated, unadjusted, Uncategorized, United States, weather, website, while, whole, widespread, winter, year |
Leave a Comment »
19/04/2020
- Faced with a backlash from the West over its handling of the early stages of the pandemic, Beijing has been quietly gaining ground in Asia
- Teams of experts and donations of medical supplies have been largely welcomed by China’s neighbours
Despite facing some criticism from the West, China’s Asian neighbours have welcomed its medical expertise and vital supplies. Photo: Xinhua
While China’s campaign to mend its international image in the wake of its handling of the
coronavirus health crisis has been met with scepticism and even a backlash from the US and its Western allies, Beijing has been quietly gaining ground in Asia.
Teams of experts have been sent to Cambodia, the Philippines, Myanmar, Pakistan and soon to Malaysia, to share their knowledge from the pandemic’s ground zero in central China.
Beijing has also donated or facilitated shipments of medical masks and ventilators to countries in need. And despite some of the equipment failing to meet Western quality standards, or being downright defective, the supplies have been largely welcomed in Asian countries.
China has also held a series of online “special meetings” with its Asian neighbours, most recently on Tuesday when Premier Li Keqiang discussed his country’s experiences in combating the disease and rebooting a stalled economy with the leaders of the Association of Southeast Asian Nations (Asean), Japan and South Korea.
Chinese Prime Minister Li Keqiang speaks to Asean Plus Three leaders during a virtual summit on Tuesday. Photo: AP
Many Western politicians have publicly questioned Beijing’s role and its subsequent handling of the crisis but Asian leaders – including Philippine President Rodrigo Duterte and Japanese Prime Minister Shinzo Abe – have been reluctant to blame the Chinese government, while also facing criticism at home for not closing their borders with China soon enough to prevent the spread of the virus.
An official from one Asian country said attention had shifted from the early stages of the outbreak – when disgruntled voices among the public were at their loudest – as people watched the virus continue its deadly spread through their homes and across the world.
“Now everybody just wants to get past the quarantine,” he said. “China has been very helpful to us. It’s also closer to us so it’s easier to get shipments from them. The [medical] supplies keep coming, which is what we need right now.”
The official said also that while the teams of experts sent by Beijing were mainly there to observe and offer advice, the gesture was still appreciated.
Another Asian official said the tardy response by Western governments in handling the outbreak had given China an advantage, despite its initial lack of transparency over the outbreak.
“The West is not doing a better job on this,” he said, adding that his government had taken cues from Beijing on the use of propaganda in shaping public opinion and boosting patriotic sentiment in a time of crisis.
“Because it happened in China first, it has given us time to observe what works in China and adopt [these measures] for our country,” the official said.
Experts in the region said that Beijing’s intensifying campaign of “mask diplomacy” to reverse the damage to its reputation had met with less resistance in Asia.
Why China’s ‘mask diplomacy’ is raising concern in the West
“Over the past two months or so, China, after getting the Covid-19 outbreak under control, has been using a very concerted effort to reshape the narrative, to pre-empt the narrative that China is liable for this global pandemic, that China has to compensate other countries,” said Richard Heydarian, a Manila-based academic and former policy adviser to the Philippine government.
“It doesn’t help that the US is in lockdown with its domestic crisis and that we have someone like President Trump who is more interested in playing the blame game rather than acting like a global leader,” he said.
Shahriman Lockman, a senior analyst with the foreign policy and security studies programme at Malaysia’s Institute of Strategic and International Studies, said that as the US had withdrawn into its own affairs as it struggled to contain the pandemic, China had found Southeast Asia a fertile ground for cultivating an image of itself as a provider.
China’s first-quarter GDP shrinks for the first time since 1976 as coronavirus cripples economy
Beijing’s highly publicised delegations tasking medical equipment and supplies had burnished that reputation, he said, adding that the Chinese government had also “quite successfully shaped general Southeast Asian perceptions of its handling of the pandemic, despite growing evidence that it could have acted more swiftly at the early stages of the outbreak in Wuhan”.
“Its capacity and will to build hospitals from scratch and put hundreds of millions of people on lockdown are being compared to the more indecisive and chaotic responses seen in the West, especially in Britain and the United States,” he said.
Coronavirus droplets may travel further than personal distancing guidelines
Lockman said Southeast Asian countries had also been careful to avoid getting caught in the middle of the deteriorating relationship between Beijing and Washington as the two powers pointed fingers at each other over the origins of the new coronavirus.
“The squabble between China and the United States about the pandemic is precisely what Asean governments would go to great lengths to avoid because it is seen as an expression of Sino-US rivalry,” he said.
“Furthermore, the immense Chinese market is seen as providing an irreplaceable route towards Southeast Asia’s post-pandemic economic recovery.”
Aaron Connelly, a research fellow in Southeast Asian political change and foreign policy with the International Institute for Strategic Studies in Singapore, said Asian countries’ dependence on China had made them slow to blame China for the pandemic.
“Anecdotally, it seems to me that most Southeast Asian political and business elites have given Beijing a pass on the initial cover-up of Covid-19, and high marks for the domestic lockdown that followed,” he said.
“This may be motivated reasoning, because these elites are so dependent on Chinese trade and investment, and see little benefit in criticising China.”
China and Vietnam ‘likely to clash again’ as they build maritime militias
The cooperation with its neighbours as they grapple with the coronavirus had not slowed China’s military and research activities in the disputed areas of the
South China Sea – a point of contention that would continue to cloud relations in the region, experts said.
Earlier this month an encounter in the South China Sea with a Chinese coastguard vessel led to the sinking of a fishing boat from Vietnam, which this year assumed chairmanship of Asean.
And in a move that could spark fresh regional concerns, shipping data on Thursday showed a controversial Chinese government survey ship, the Haiyang Dizhi 8, had moved closer to Malaysia’s exclusive economic zone.
The survey ship was embroiled in a months-long stand-off last year with Vietnamese vessels within Hanoi’s exclusive economic zone and was spotted again on Tuesday 158km (98 miles) off the Vietnamese coast.
Source: SCMP
Posted in 10, 13, 15, 16, 17, 18, 1976, 27, 44, 50%, 54, according, across the world, again, against, April, areas, arriving, ASEAN, Asian, Association of Southeast Asian Nations (ASEAN), ASYMPTOMATIC CASES, at, authorities, avoid, ‘mask diplomacy’, battling, Beijing, Beijing’s, biggest, blame, blame game, borders, Britain, build, burnished, cabinet, cases, cautioning, central, central district, chairmanship, China, China's, China’s National Health Commission, Chinese capital, chinese government, Chinese market, City, clinical, closer, closing, coast, coastguard vesse, coastguard vessel, combating, compensate, confirmed, confirmed cases, considered, contain, contention, control, controversial, coronavirus, coronavirus cases, cough, countries, country’s, COVID-19, COVID-19 outbreak, cripples, crisis, criticism, cross infections, Data, day, deadly spread, death toll, deaths, declines, delegations, despite, destabilising, Disease, disputed areas, districts, domestic, down, earlier, eastern, economic recovery, economically, economy, elsewhere, embroiled, epicentre, epidemic, everybody, exclusive economic zones, experiences, eyes, facing, fall, family gatherings, fever, first time, fishing boat, flare-up, foreign policy and security studies programme, Friday, from, GDP, global leader, global pandemic, Government, Guangzhou, Haiyang Dizhi 8, handling, Hanoi’s, Harbin, health commission, Heilongjiang, high-risk, Home, hospitals, However, hubei province, hundreds, imported, imported infections, including, infected, Institute of Strategic and International Studies, interested, International Institute for Strategic Studies, investigations, irreplaceable, Japan, Japanese Prime Minister, Japanese Prime Minister Shinzo Abe, Jiaozhou, km, last, leaders, local, locally, lockdown, low-risk, lowest, mainland, Mainland China, Major, Malaysia’s, March, medical equipment and supplies, medium-risk, miles, military and research activities, millions, months-long, moved, narrative, new, nine, Northeastern, Notably, now, number, off, Official, officials, on guard, outbreak, patients, People, perceptions, Philippine, playing, political, politicians, Post, post-pandemic, pre-empt, Premier Li Keqiang, present, President Trump, prevent, previous, province, provincial capital, provincial government, publicly, published, punished, quarantine, questioned, quickly, quoted, reached, rebooting, rebound, recent, reluctant, remaining, reported, reporting, reputation, research fellow, reshape, resurgence, role, route, Russia, Saturday, saying, scratch, seen, senior analyst, shandong province, shipping data, showed, shrinks, since, Singapore, sinking, Sino-US rivalry, slow, social media, socially, soon enough, South China Sea, South Korea, Southeast Asia, Southeast Asian political change and foreign policy, southern city, spotted, spread, squabble, stalled, stand-off, State Council, statement, stood, stop, subsequent, Suifenhe, Sunday, surge, survey ship, symptoms, tally, task, test positive, Three, Thursday, Total, towards, transmitted, Transparency, travellers, Tuesday, two, Uncategorized, United States, vice governor, vice mayor, Vietnam, Vietnamese, Vietnamese vessels, virtual summit, Virus, Washington, website, weeks, were, Western, within, Wuhan, year |
Leave a Comment »
18/04/2020
- China’s Skyrizon Aircraft Holdings bought a majority stake in Motor Sich, but the shares were frozen in 2017 pending an investigation by Ukraine’s security service
- Washington and Beijing have competed for influence in Ukraine since its relations with Moscow soured when Russia annexed the Crimea peninsula in 2014
Chnia’s Skyrizon says it will appeal a Kiev court’s decision to block its purchase of Ukrainian aircraft engine maker Motor Sich. Photo: Getty Images
A court in Kiev has rejected an appeal by Chinese investors to unfreeze the shares of a Ukrainian aircraft engine maker, a setback for the Chinese company that sought to buy the Ukrainian firm in a deal opposed by the United States.
China’s Skyrizon Aircraft Holdings bought a majority stake in Motor Sich, but the shares were frozen in 2017 pending an investigation by Ukraine’s security service (SBU). Washington wants the deal scrapped.
The US and China have competed for influence in Ukraine since its relations with Moscow soured when Russia annexed the Crimea peninsula in 2014.
In its ruling, the court kept the shares frozen, citing the SBU investigation into whether selling Motor Sich sabotages national security by allowing sensitive technology into foreign hands. The ruling was dated March 13, shared with the parties this week.
Skyrizon plans further appeals, said a lawyer involved in the case, speaking anonymously due to the political sensitivity of the case. Zelensky’s office, the US embassy and the Chinese embassy did not respond to requests for comment. Motor Sich and the SBU declined to comment.
Motor Sich severed ties with Russia after the annexation of Crimea. Photo: Wikipedia
Motor Sich severed ties with Russia, its biggest client, after the annexation of Crimea. The wrangle over its future has held up efforts to find new markets, and supporters of a quick resolution say it is now operating at less than half capacity.
“Motor Sich has become a hostage to the geopolitical situation,” former prime minister Anatoliy Kinakh, chairman of an industrial union which has called for the government to resolve the dispute quickly, said.
The state’s anti-monopoly committee has launched its own investigation and says it is waiting to receive more documents before deciding whether to sanction the sale.
President Volodymyr Zelensky’s administration has had to balance strengthening ties to Beijing with keeping the United States, its biggest military aid donor, onside. In recent weeks, Beijing and Washington have both offered aid to Ukraine to fight the
coronavirus.
At the moment it is a very difficult task when we have the biggest powers in the world and their interests are in conflict in Ukraine,” Oleksandr Danylyuk, a former top security official under Zelensky, said.
Source: SCMP
Posted in 2014, 2017, administration, Aerospace, Aid, aircraft engine maker, allowing, annexed, anonymously, anti-monopoly committee, appeal, balance, Beijing, biggest, both, bought, China’s, Chinese appeal, Chinese embassy, competed, coronavirus, court, court’s decision, Crimea peninsula, deal, dispute, documents, fight, firm, foreign hands, frozen, geopolitical situation, Government, influence, investigation, investors, keeping, Kiev, launched, Lawyer, majority, military aid donor, Moscow, Motor Sich, National security, offered, onside, opposed, political sensitivity, President Volodymyr Zelensky’s, purchase, quickly, recent, rejects, relations, resolve, Russia, sabotages, sale, sanction, security service, security service (SBU), sensitive, shares, Skyrizon, Skyrizon Aircraft Holdings, soured, stake, strengthening, Technology, ties, to block, Ukraine, Ukraine’s, Ukrainian, Uncategorized, unfreeze, United States, US embassy, Washington, weeks, Zelensky |
Leave a Comment »
17/04/2020
- Fu Chengyu, the former chairman of China National Offshore Oil Corporation (CNOOC), says hostility towards Beijing will increase after the coronavirus
- US will try to ‘thwart China’s rise’ and economic fallout from Covid-19 will be worse than the global financial crisis, says Fu
Former Sinopec chairman Fu Chengyu says China will face a more hostile world post coronavirus. Photo: EPA
The world is set to become more hostile for China after the coronavirus as the risk of “black swan” events gathers for Beijing, a heavyweight in China’s state oil industry has warned, reflecting growing wariness about the geopolitical environment among political and business elites.
Fu Chengyu, the former chairman of both China National Offshore Oil Corporation (CNOOC) and Sinopec Group, painted an ominous picture of increasing antagonism from the United States and damaging unforeseen events, known as black swans, like Covid-19
at an online symposium organised by business magazine Caijing.
The US would “mercilessly” suppress China in the fields of economics, trade, finance and technology, and Washington was set on taking advantage of the coronavirus pandemic to “forge a less favourable international environment for” the nation, Fu said this week.
“We’ve smelled the odours and new plots against China are in formation,” he said.
After the epidemic, the external environment for our survival will be more severe – Fu Chengyu
“After the epidemic, the external environment for our survival will be more severe … we must prepare for the worst and do our best to achieve the best possible results.”
While Fu has retired from his posts at state companies, he is an influential voice in
with decades of experience and contacts in the US petroleum sector.
Fu was a counterpart of Rex Tillerson, who was chairman of ExxonMobil from 2006 to 2017, and served as US State Secretary under President Donald Trump until March 2018.
While at the helm of CNOOC in the early 2000s, he felt political heat from Washington over a US$18.5 billion takeover bid for the American oil company Unocal in 2005, which the company was subsequently forced to withdraw.
China says no evidence to suggest coronavirus virus came from Wuhan’s lab
“The crisis stemming from the coronavirus pandemic won’t be over in just one or two years … the impact will last longer than the 2008 global financial crisis,” he said.
He added that China would face numerous “black swan” risks in the future.
President Xi Jinping warned in 2019 that China must be on guard for black swan risks as well as “grey rhino” events, referring to an obvious threat that is often neglected.
Geopolitics is getting worse and worse, and we need to be very careful. The US will try various ways to thwart China’s rise, and energy is an important area
To respond to the economic fallout from the coronavirus, China must do more to create a self-sustaining domestic economy, Fu said, and in particular reduce input prices for gas and electricity and boost public services such as health care and education.
“Geopolitics is getting worse and worse, and we need to be very careful,” Fu said. “The US will try various ways to thwart China’s rise, and energy is an important area.”
The US could potentially form a new oil export alliance with Saudi Arabia and Russia to make it possible to cut oil supplies to China, he said.
“China must be prepared for such a scenario, and even when supplies are cut off, we can have some basic self-protection.”
Source: SCMP
Posted in "severe", 2005, 2006, 2008, 2017, 2018, 2019, advantage, against, American oil company, ‘thwart China’s rise’, “grey rhino”, “mercilessly”, Beijing, black swans, business magazine, Chairman, China, China National Offshore Oil Corporation (CNOOC), CNOOC, contacts, coronavirus, Coronavirus pandemic, COVID-19, crisis, cut, damaging, economic fallout, Economics, education, Electricity, energy, epidemic, experience, external environment, ExxonMobil, favourable, fields, Finance, forge, formation, gas, gathering, geopolitical environment, GeoPolitics, global financial crisis, global value chains, growing wariness, Health care, heightened tensions, hostility, increase, increasing antagonism, input prices, international environment, March, nation, neglected, new plots, obvious threat, odours, oil export alliance, oil industry, oil supplies, oil titan, ominous picture, on guard, online symposium, painted, pandemic, petroleum sector, political heat, prepared, President Donald Trump, President Xi Jinping, Public services, Rex Tillerson, Risks, Russia, Saudi Arabia, scenario, self-protection, self-sustaining domestic economy, Sinopec Group, smelled, suppress, survival, Technology, Trade, Uncategorized, unforeseen events, United States, Unocal, US, US State Secretary, warns, Washington, week, world trade landscape |
Leave a Comment »
16/04/2020
WASHINGTON (Reuters) – U.S. President Donald Trump said on Wednesday his government is trying to determine whether the coronavirus emanated from a lab in Wuhan, China, and Secretary of State Mike Pompeo said Beijing “needs to come clean” on what they know.
The source of the virus remains a mystery. General Mark Milley, chairman of the Joint Chiefs of Staff, said on Tuesday that U.S. intelligence indicates that the coronavirus likely occurred naturally, as opposed to being created in a laboratory in China, but there is no certainty either way.
Fox News reported on Wednesday that the virus originated in a Wuhan laboratory not as a bioweapon, but as part of China’s effort to demonstrate that its efforts to identify and combat viruses are equal to or greater than the capabilities of the United States.
This report and others have suggested the Wuhan lab where virology experiments take place and lax safety standards there led to someone getting infected and appearing at a nearby “wet” market, where the virus began to spread.
At a White House news conference Trump was asked about the reports of the virus escaping from the Wuhan lab, and he said he was aware of them.
“We are doing a very thorough examination of this horrible situation that happened,” he said.
Asked if he had raised the subject in his conversations with Chinese President Xi Jinping, Trump said: “I don’t want to discuss what I talked to him about the laboratory, I just don’t want to discuss, it’s inappropriate right now.”
Trump has sought to stress strong U.S. ties with China during the pandemic as the United States has relied on China for personal protection equipment desperately needed by American medical workers.
As far back as February, the Chinese state-backed Wuhan Institute of Virology dismissed rumors that the virus may have been artificially synthesized at one of its laboratories or perhaps escaped from such a facility.
Pompeo, in a Fox News Channel interview after Trump’s news conference, said “we know this virus originated in Wuhan, China,” and that the Institute of Virology is only a handful of miles away from the wet market.
“We really need the Chinese government to open up” and help explain “exactly how this virus spread,” said Pompeo.
“The Chinese government needs to come clean,” he said.
The broad scientific consensus holds that SARS-CoV-2, the virus’ official name, originated in bats.
Trump and other officials have expressed deep skepticism of China’s officially declared death toll from the virus of around 3,000 people, when the United States has a death toll of more than 20,000 and rising.
He returned to the subject on Wednesday, saying the United States has more cases “because we do more reporting.”
“Do you really believe those numbers in this vast country called China, and that they have a certain number of cases and a certain number of deaths; does anybody really believe that?” he said.
Source: Reuters
Posted in American, “needs to come clean”, bats, Beijing, bioweapon, capabilities, Chairman, China, China’s, Chinese President Xi Jinping, combat, coronavirus, death toll, emanated, examination, February, Fox News, Fox News Channel, General Mark Milley, Government, identify, infected, investigating, Joint Chiefs of Staff, lab, laboratory, lax safety standards, medical workers, Mike Pompeo, mystery, News conference, originated, pandemic, personal protection equipment, reported, secretary of state, someone, spread, Trump, Tuesday, U.S., U.S. intelligence, U.S. President Donald Trump, Uncategorized, United States, virology experiments, Virus, Washington, Wednesday, wet market, White House, Wuhan, Wuhan Institute of Virology |
Leave a Comment »
15/04/2020
TAIPEI (Reuters) – Taiwan waded into the hotly contested politics of the Pacific on Wednesday, donating face masks and thermal cameras to its four diplomatic allies there to combat the coronavirus in a region where China is challenging traditional power of the United States.
The small developing nations lie in the highly strategic waters of the Pacific, dominated since World War Two by the United States and its friends, who have been concerned over China’s moves to expand its footprint there.
Democratic Taiwan has faced intense pressure from China, which claims the island as its territory with no right to state-to-state ties, and is bent on wooing away its few allies.
Taiwan has only 15 formal allies left worldwide after losing two Pacific nations, the Solomon Islands and Kiribati, to China in September.
Beijing has ramped up its diplomatic push into the Pacific, pledging virus aid and medical advice.
In its own aid programme, Taiwan has donated 16 million masks to countries around the world.
“We are a very small country, so it’s easier for us to work with Taiwan than mainland China,” Neijon Edwards, the Marshall Islands ambassador to Taiwan, told Reuters at the donation ceremony in Taipei.
China has been too overbearing, she added.
“It’s pressing too much, and it’s been trying to come to the Marshall Islands, several times, but up to this time we haven’t even opened the door yet.”
While the masks presented at the ceremony are going to Taiwan’s Pacific allies, all its 15 global allies are sharing the thermal cameras.
“Today’s ceremony once again shows that Taiwan is taking concrete actions not only to safeguard the health of Taiwanese people but also to contribute to global efforts to contain COVID-19,” said Foreign Minister Joseph Wu.
Though Pacific Island states offer little economically to either China and Taiwan, their support is valued in global forums such as the United Nations and as China seeks to isolate Taiwan.
China has offered to help developing countries including those of the Pacific, and many see Chinese lending as the best bet to develop their economies.
But critics say Chinese loans can lead countries into a “debt trap”, charges China has angrily rejected.
The debt issue was a serious problem and would only lead to the spread of Chinese influence regionwide, said Jarden Kephas, the ambassador of Nauru.
“They will end up dominating or having a lot of say in those countries because of the amount of debt,” he told Reuters, wondering how the money could ever be repaid. “We are not rich countries.”
Source: Reuters
Posted in 15, 16, aid programme, allies, Ambassador, Beijing, challenging, China, China’s, claims, combat, coronavirus, countries, Country, COVID-19, debt trap, democratic, developing nations, diplomacy, diplomatic, diplomatic push, dominated, donated, donating, donation ceremony, expand, face masks, footprint, foreign minister, formal allies, four, friends, hotly contested, intense, island, isolate, Kiribati, losing, Mainland China, Marshall Islands, masks, Medical advice, million, moves, Nauru, overbearing, Pacific, pledging, Politics, power, pressure, ramped up, region, Reuters, right, September, Solomon Islands, strategic waters, Taipei, Taiwan, Taiwanese, territory, thermal cameras, traditional, two, Uncategorized, United Nations, United States, virus aid, wades, Wednesday, wooing, World, World War Two, worldwide |
Leave a Comment »
13/04/2020
- China’s famed Yiwu International Trade Market, a barometer for the health of the nation’s exports, has been hammered by the economic fallout from Covid-19
- Export orders have dried up amid sweeping containment measures in the US and Europe and restrictions on foreigners entering China have shut out international buyers
The coronavirus pandemic has severely dented wholesale trade at the Yiwu International Trade Market in China. Photo: SCMP
The Yiwu International Trade Market has always been renowned as a window into the vitality of Chinese manufacturing, crammed with stalls showcasing everything from flashlights to machine parts.
But today, as the coronavirus pandemic rips through the global economy, it offers a strikingly different picture – the dismal effect Covid-19 is having on the nation’s exports.
The usually bustling wholesale market, home to some 70,000 vendors supplying 1,700 different types of manufactured goods, is a shadow of its former self.
Only a handful of foreign buyers traipse through aisles of the sprawling 4-million-square-metre (43 million square feet) complex, while store owners – with no customers to tend to – sit hunched over their phones or talking in small groups.
A foreign buyer visits a stall selling face masks. Photo: Ren Wei
“We try to convince ourselves that the deep slump will not last long,” said the owner of Wetell Razor, Tong Ciying, at her empty store. “We cannot let complacency creep in, although the coronavirus has sharply hampered exports of Chinese products.”
Chinese exports plunged by 17.2 per cent in January and February combined compared to the same period a year earlier, according to the General Administration of Customs. The figure was a sharp drop from 7.9 per cent growth in December.
After riding out a supply shock that shut down most of its factories, China is now facing a
second wave demand shock, as overseas export orders vanish amid sweeping containment measures to contain the outbreak around the globe.
Nowhere is that clearer to see than in Yiwu. The city of 1.2 million, which lies in the prosperous coastal province of Zhejiang, was catapulted into the international limelight as a showroom for Chinese manufacturing when the country joined the World Trade Organisation in 2001.
Coronavirus: Is the gig economy dead, and should the self-employed worry?
Before the pandemic, thousands of foreign buyers would flock to the mammoth trade market each day to source all manner of products before sending them home.
But the outbreak, which has claimed the lives of more than 113,000 people and infected more than 1.9 million around the world, is proving a major test for the market and the health of the trade dependent city.
Imports and exports via Yiwu last year were valued at 296.7 billion yuan (US$42.2 billion) – nearly double the city’s economic output.
Businesses, however, are facing a very different picture in 2020. Most traders at the market say they have lost at least half their business amid the pandemic, which was first detected in the central Chinese city of Wuhan last year.
Just take a look at the situation in Yiwu and you will understand the extent of the virus’ effect on China’s trade with foreign countries – Tianqing
“Yiwu is the barometer for China’s exports,” said Jiang Tianqing, the owner of Beauty Shine Industry, a manufacturer of hair brushes. “Just take a look at the situation in Yiwu and you will understand the extent of the virus’ effect on China’s trade with foreign countries.”
Jiang said his business was only just hanging on thanks to a handful of loyal customers placing orders via WeChat.
“I assume it will be a drawn-out battle against the coronavirus,” he said. “We are aware of the fact that developed economies like the US and Europe have been severely affected.”
The Yiwu market reopened on February 18 after a one-month long hiatus following the Lunar New Year holiday and the government’s order to halt commercial activities to contain the spread of the outbreak.
Jiang Tianqing, owner of hair brush company Beauty Shine Industry. Photo: Ren Wei
But facing the threat of a spike in imported cases, Beijing banned foreigners from entering the country in late March – shutting out potential overseas buyers.
Despite the lack of business, local authorities have urged stall owners to keep their spaces open to display Yiwu’s pro-business attitude, owners said.
“For those bosses who just set up their shops here, it would be a do-or-die moment now since their revenue over the next few months will probably be zero,” said Tong. “I am lucky that my old customers are still making orders for my razors.”
The impact of the coronavirus is just the latest challenge for local merchants, who normally pay 200,000 yuan (US$28,000) per year for a 10-square-metre (108 square feet) stall at the market.
Traders were hard hit by the
trade war between China and the United States when the Trump administration imposed a 25 per cent tariff on US$200 billion of Chinese imports last year.
At the time, some Chinese companies agreed to slash their prices to help American buyers digest the additional costs.
“But it is different this time,” said Jiang. “Pricing does not matter. Both buyers and sellers are eager to seal deals, but we are not able to overcome the barriers [to demand caused by the virus].”
Even when businesses can secure orders, it is a struggle to deliver them
Ma Jun, a manager with a LED light bulb trading company, said the only export destination for her company’s products was war-torn Yemen because it was the only country with ports still open.
It is a public health crisis that ravages not just our businesses, but the whole world economy – Dong Xin
Dong Xin, an entrepreneur selling stationery products, said he could not ship the few orders he had because “ocean carriers have stopped operations”.
“It is a public health crisis that ravages not just our businesses, but the whole world economy,” he said. “The only thing can do is to pray for an early end to the pandemic.”
Most wholesale traders in the Yiwu market run manufacturing businesses based outside the city, so a sharp fall in sales has a ripple effect on their factories, potentially resulting in massive job cuts.
Workers pack containers at Yiwu Port, an inland port home to dozens of warehouses. Photo: Ren Wei
At Yiwu Port, an inland logistics hub full of warehouses where goods from the factories are unpacked and repacked for shipping abroad, container truck drivers joke about their job prospects.
“We used to commute between Shaoxing and here five times a week, and now it is down to twice a week,” said a driver surnamed Wang, describing the trip from his home to the shipping port, just over 100km away.
“At the end of the day, we may not be infected with the coronavirus, but our jobs will still be part of the cost of the fight against it.”
Source: SCMP
Posted in 2001, 25, abroad, aisles, banned, barometer, Beauty Shine Industry, Beijing, businesses, Buyers, catapulted, China, China’s, Chinese manufacturing, commute, complex, containers, containment, coronavirus, Coronavirus pandemic, Country, COVID-19, crammed, different picture, Dozens, dried up, economic fallout, entering, Entrepreneur, Europe, everything, export, export orders, face masks, factories, famed, February, flashlights, Foreigners, global, global economy, goods, grinds, hair brush company, halt, health, Home, imposed, infected, inland, international, International Trade Market, January, job cuts, jobs, joke, LED light bulb, limelight, logistics hub, Lunar New Year holiday, machine parts, mammoth, Manufacturing, March, massive, measures, ocean carriers, orders, outbreak, overseas, pack, pandemic, per cent, phones, Port, public health crisis, ravages, repacked, second wave, selling, Shaoxing, ship, shipping, shipping port, showcasing, Showroom, Stalls, stationery products, store owners, strikingly, sweeping, Tariff, trade war, traders, trading company, traipse, truck drivers, Trump administration, Uncategorized, United States, unpacked, vanish, vendors, warehouses, WeChat, whole, wholesale, workers, world economy., world trade organisation, Wuhan, Yemen, Yiwu Port, Zhejiang |
Leave a Comment »
12/04/2020
- Between January 20 and April 4, PM2.5 levels across the country fell by more than 18 per cent, according to the environment ministry
- But observers say that as soon as the nation’s factories and roads get back to normal, so too will the air pollution levels
Blue skies were an unexpected upside of locking down cities and halting industrial production across China. Photo: AFP
China’s air quality has improved dramatically in recent weeks as a result of the widespread city lockdowns and strict travel restrictions introduced to contain the
. But experts say the blue skies could rapidly disappear as factories and roads reopen under a government stimulus plan to breathe new life into a stalled economy.
According to the Ministry of Ecology and Environment, between January 20 and April 4 the average concentration of PM2.5 – the tiny particles that pose the biggest risk to health – fell by 18.4 per cent from the same period of last year.
Meanwhile, the average number of days with good air quality – determined as when the air pollution index falls below 100 – rose by 7.5 per cent, it said.
Satellite images released by Nasa and the European Space Agency showed a dramatic drop in nitrogen dioxide emissions in major Chinese cities in the first two months of 2020, compared with a year earlier.
According to Nasa, the changes in Wuhan – the central China city at the epicentre of the initial coronavirus outbreak – were particularly striking, while nitrogen dioxide levels across the whole of eastern and central China were 10 to 30 per cent lower than normal.
The region is home to hundreds of factories, supplying everything from steel and car parts to microchips. Wuhan, which has a population of 11 million, was placed under lockdown on January 23, but those
restrictions were lifted on Wednesday
.
Air pollution is likely to return to China’s cities once the lockdowns are lifted. Photo: Reuters
Nitrogen dioxide is produced by cars, power plants and other industrial facilities and is thought to exacerbate respiratory illnesses such as asthma.
The space agency said the decline in air pollution levels coincided with the restrictions imposed on transport and business activities.
That was consistent with official data from China’s National Development and Reform Commission, which recorded a 25 per cent fall in road freight volume and a 14 per cent decline in the consumption of oil products between January and February.
Guangzhou cases prompt shutdown in ‘Little Africa’ trading hub
Liu Qian, a senior climate campaigner for Greenpeace based in Beijing, said the restrictions on industry and travel were the primary reasons for the improvement in air quality.
According to official data, in February, the concentrations of PM2.5, nitrogen dioxide and sulphur dioxide – a toxic gas that comes mostly from industrial burning of coal and other fossil fuels – all fell, by 27 per cent, 28 per cent and 23 per cent, respectively.
“The causes of air pollution are complicated, but the suspension of industrial activity and a drop in public transport use will have helped to reduce levels,” Liu said.
As the epicentre of the Covid-19 pandemic has shifted to the
United States and
, human and industrial activity in China is gradually picking back up, and so is air pollution.
Lauri Myllyvirta, lead analyst with the Centre for Research on Energy and Clean Air in Helsinki, said that levels of nitrogen dioxide pollution, measured both by Nasa satellites and official stations in China, started inching back up in the middle of March and had returned to normal levels by the end of the month.
That coincided with the centre’s findings – published on Carbon Brief, a British website on climate change – that coal consumption at power plants and oil refineries across China returned to their normal levels in the fourth week of March.
How the Wuhan experience could help coronavirus battle in US and Europe
Ma Jun, director of the Institute of Public & Environmental Affairs, a Beijing-based charity, said a stimulus plan to kick-start the economy would have a significant impact on air pollution.
“Once industrial production is fully resumed, so are the emission levels,” he said. “Unless another outbreak happens and triggers another lockdown, which would be terrible, the improvement achieved under the pandemic is unstable and won’t last long.”
After the 2008 financial crisis, Beijing launched a 4 trillion yuan (US$567.6 billion) stimulus package that included massive infrastructure investment, but also did huge damage to the environment. In the years that followed, air pollution rose to record highs and sparked a public backlash.
Even before the
Covid-19 outbreak, China’s economy was slowing – it grew by 6.1 per cent in 2019, its slowest for 29 years – and concerns are now growing that policymakers will go all out to revive it.
“Local governments have been under huge pressure since last year, and there are fears that environmental regulations will be sidelined [in the push to boost economic output],” Ma said.
But Beijing had the opportunity to get it right this time by investing more in green infrastructure projects rather than high-carbon projects, he said.
“A balance between economic development and environmental protection is key to achieving a green recovery, and that is what China needs.”
Source: SCMP
Posted in 20, 2020, 4, air pollution, air quality, April, Asthma, ‘Little Africa’, back, balance, Beijing, blue skies, brought, business activities, car parts, Carbon Brief, cars, charity, China, China’s economy, Chinese cities, climate campaigner, Coal, concentrations, consumption, coronavirus epidemic, coronavirus outbreak, COVID-19, COVID-19 outbreak, Covid-19 pandemic, decline, drop, eastern and central China, environment ministry, Environmental protection, environmental regulations, epicentre, Europe, European Space Agency, everything, exacerbate, expect, factories, February, fossil fuels, get back, green infrastructure projects, green recovery, Greenpeace, Guangzhou, Helsinki, high-carbon projects, Home, Human, hundreds, improvement, industrial activity, industrial burning, industrial facilities, industry, Institute of Public & Environmental Affairs, January, last, levels, local governments, lockdowns, March, microchips, months, NASA, National Development and Reform Commission, Nitrogen dioxide, oil products, PM2.5, PM2.5 levels, policymakers, power plants, primary reasons, public transport, region, respiratory illnesses, restrictions, road freight, roads, shifted, sidelined, slowing, so too, space agency, Steel, supplying, suspension, tiny particles, to normal, toxic gas, trading hub, Transport, travel, Uncategorized, United States, Wednesday, Wuhan |
Leave a Comment »
10/04/2020
BEIJING (Reuters) – China will promote the sales of export products in domestic markets, as foreign trade faces unprecedented challenges due to the coronavirus pandemic, an assistant commerce minister said on Friday.
As the coronavirus spreads to almost all of China’s trading partners, the world’s second-largest economy is set to reach a grim milestone for full year growth, with the pace of expansion likely to be the slowest since the Cultural Revolution ended in 1976. And, the export sector is facing millions of job losses and factory shutdowns.
“Due to the rapid spread of the epidemic in the world, foreign demand has slumped and the biggest difficulty facing foreign trade companies is the plunge in orders,” said Ren Hongbin, the assistant minister at the Ministry of Commerce.
He said firms across the board have had their orders cancelled or delayed, and new orders are “very hard to sign”.
“The uncertainty about the pandemic has become the biggest uncertainty for foreign trade development.”
Forecasters expect China’s 2020 growth could be nearer the 2.0% mark – the slowest in over 40 years – due to the sweeping impact of the pandemic both at home and overseas. The economy grew 6.1% last year.
China’s overseas shipments fell 17.2% in January-February from the same period a year earlier, marking the steepest fall since February 2019. Imports sank 4% from a year earlier.
Among the government measures to support the sector, China is accelerating efforts to build online trade fairs and guiding exporters to work with e-commerce retailers for sales in domestic markets and coordinating with its trading partners to stabilise supply chains, said Ren.
The Canton Fair, China’s oldest and biggest trade fair due to take place online, will feature live-streaming services for participants, Li Xingqian, another commerce ministry official, told the same briefing. The fair was originally scheduled to begin on April 15, but was postponed due to the coronavirus outbreak.
China is willing to boost trade relations with other countries, including the United States, under the new circumstances, said Ren, adding that Beijing hopes to work together with Washington to promote bilateral trade.
Both countries have been engaged in a near two-year long trade war with tit-for-tat tariffs on each other’s goods, before negotiators called a truce with an interim trade deal in January.
Source: Reuters
Posted in 0, 1, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 1976, 2, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 3, 30, 31, 4, 5, 6, 7, 8, 9, April, batters, Beijing, bilateral trade, cancelled, Canton Fair, challenges, China, China’s, Commerce minister, companies, coronavirus, coronavirus outbreak, Coronavirus pandemic, Cultural Revolution, delayed, domestic markets, domestically, encourages, epidemic, export goods, export products, export sector, Factory, February, foreign demand, foreign trade, global, imports, interim trade deal, January, job losses, live-streaming services, milestone, millions, Ministry of Commerce, Negotiators, oldest and biggest trade fair, online, orders, overseas shipments, pandemic, plunge, promote, Sales, shutdowns, slumped, spreads, tit-for-tat tariffs, Trade, trade war, trading partners, Uncategorized, uncertainty, United States, unprecedented, Virus, Washington, World, world’s second-largest economy |
Leave a Comment »
09/04/2020
- ‘I felt excited and proud of myself,’ says restaurant owner and former volunteer ambulance driver Xiang Yafei
- ‘I didn’t feel afraid at all. In my mind, it’s already a successful vaccine,’ he says
Wuhan restaurant owner Xiang Yafei says he wasn’t afraid to be a coronavirus vaccine guinea pig. Photo: Handout
With more than 1.5 million confirmed cases around the world and over 88,000 deaths, the race to develop a vaccine for the
coronavirus is hotting up.
According to the World Health Organisation, about 35 companies and academic institutions are currently working on candidate products. Among the front-runners are China’s CanSino Biologics and Moderna Therapeutics in the United States, both of which have begun phase one clinical trials.
In China, those tests, which started on March 19, involve 108 volunteers from Wuhan, the city in which the virus that causes Covid-19 was first detected.
Among them is 30-year-old restaurant owner Xiang Yafei, who spoke to the South China Morning Post about his experiences so far.
Why did you apply to be a vaccine trial volunteer?
I had been doing various voluntary jobs since the end of January when
Wuhan was put under lockdown. In the middle of March, one of my friends who knew about the vaccine study asked if I would be interested in joining.
At first I was afraid because there was uncertainty [about the vaccine]. I asked around and some of my friends said there was some risk to being a candidate as I’d be injected with some kinds of virus, but I felt better after I did some research about it online.
Before joining the clinical trials, Xiang worked as a volunteer ambulance driver. Photo: Handout
Also, because the vaccine was developed by the Academy of Military Medical Sciences [a research unit of the People’s Liberation Army] and CanSino, I thought its safety should be guaranteed, as I have confidence in the PLA because several of my relatives are former soldiers. So I agreed to join the trial but didn’t tell my parents because I didn’t want to worry them.
I went to the research team’s office on March 16 and filed my application – that was before they officially announced they were recruiting volunteers on the internet. While I was at the office, I was lucky to meet Major General Chen Wei, the team leader, who explained about the development of the vaccine and assured me that it wouldn’t damage my body. That boosted my confidence.
China ‘leads world in coronavirus research’, followed by US
When did you receive your injection and how did you feel at that time?
I was given mine on the morning of March 19 and immediately put into quarantine for 14 days at a PLA facility. My number in the volunteer group is 006, meaning I was the sixth person to get the vaccine. Before the injection, I underwent a strict physical check-up. I later learned that more than 5,200 people had applied to be volunteers.
Receiving the vaccine was no different to any other injection I’d had before in my life. I didn’t feel any pain and it only lasted about 10 seconds.
But in my heart, I felt excited and proud of myself. I understand that the vaccine will be an important part in battling this coronavirus and testing it is part of the preparations before it can be put on the market.
Xiang (right) said team leader Chen Wei (left) told him about the development of the vaccine and assured him he would come to no harm. Photo: Handout
As volunteers, our job is to work together with the scientists. After all, academician Chen [the major general is also a member of the Chinese Academy of Engineering] and six members of her team have also been injected with the vaccine, and she was the first person to receive it.
They didn’t show any bad symptoms, so at that moment, I didn’t feel afraid at all. In my mind, it’s already a successful vaccine.
And how has your health been since receiving the vaccine?
I had a fever, 37.6 degrees, for the first two days. It was like catching a normal cold, with symptoms of fatigue and drowsiness. But from the third day, my condition improved and I was basically in good health.
The 108 volunteers are divided into three streams, with each receiving either a low, medium or high dose of the drug. I was in the low group so only got one dose. Volunteers in the medium group also got one and the high group were given two shots. As far as I know, everyone was fine after receiving their injections.
When will your trial result be available?
After my quarantine period ended on April 2, I was given a CAT scan and the researchers took a sample of my blood for testing. They said it would be two weeks before they could tell if there were coronavirus antibodies in my bloodstream.
I am not sure if they will tell me the result, but over the next five months I have to do four more blood tests to see if I have antibodies and how long they might remain in my blood.
What did you do to keep yourself entertained during the quarantine period?
It was just rest for me. Before then I’d been a volunteer ambulance driver in Wuhan, working every day taking coronavirus patients to hospital. I’d been really busy for more than a month, so the 14-day quarantine period gave me a chance to relax and catch up on some sleep.
I really enjoyed my time there thanks to the meals I was given, which were nutritious and varied.
The volunteers had to stay in their rooms and we were not allowed to visit each other. We were also told to check our temperature every day and to report any symptoms. I read books and exercised in my room. Some of the volunteers practised calligraphy, some played football with their toilet paper rolls, some jogged, some composed songs, and some made videos about their life in quarantine and uploaded the clips to social media. We did everything just in our own rooms.
Chinese firm CanSino Biologics is one of the front-runners in the race to develop a vaccine for the coronavirus. Photo: Handout
So what was it like working as an ambulance driver?
It was a race against time trying to get people to hospital as quickly as I could. But I felt a real sense of purpose.
At first, I didn’t want to do such work. I was scared because all the patients had been confirmed or were suspected of being infected, and they were contagious.
I was told that no one wanted to be an ambulance driver, but I had a licence to drive a minivan so I decided to do it. I think we young people should make a contribution to society, especially during this difficult time and in our home city and home province, so I applied.
Also, [each day at work] I took a gourd with me. It is called hulu in Mandarin and has auspicious implications in Chinese, as hu sounds similar to fu, which means good luck.
How was your restaurant business affected by the epidemic?
I lost about half a million yuan (US$70,000) because of it. I decided to shut my restaurant down on January 21, two days before the official lockdown, because there had been rumours it was coming and I wanted my workers to be able to leave Wuhan and return to their hometowns.
Right now I’m making preparations to reopen my restaurant, which means a lot of cleaning and disinfecting, and thinking about serving all my customers again.
So how did you feel when the lockdown was lifted on Wednesday?
The situation in Wuhan is getting better. We are proud of what we did for this city. We hope the coronavirus cases can drop to zero soon and our lives can get back to normal.
Source: SCMP
Posted in academic institutions, Academy of Military Medical Sciences, afraid, ambulance driver, auspicious implications, calligraphy, candidate products, CanSino, CanSino Biologics, China’s, Chinese, cleaning, companies, composed songs, coronavirus cases, COVID-19, customers, detected, disinfecting, drop, excited, football, former, fu, good luck, gourd, guinea pig, his, hometowns, hu, hulu, jogged, lives, lockdown, made videos, Major General Chen Wei, making, Mandarin, means, mind, Moderna Therapeutics, myself, normal, owner, People’s Liberation Army, preparations, proud, quarantine, quarantine period, read books, relax, reopen, Restaurant, similar to, social media, sounds, south china morning post, story, tells, thinking, trials, Uncategorized, United States, uploaded, Vaccine, volunteer, workers, working, World Health Organisation, Wuhan, zero |
Leave a Comment »
CHINDIA ALERT: You'll be living in their world, very soon 