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The Coronavirus – Challenges and Opportunities

来源: CHINA FOREX 2020 Issue 1
The coronavirus is a serious challenge but ultimately it will be overcome.

The novel coronavirus outbreak has aroused global concern. More than 50 countries have reported confirmed cases of the virusthough most have been within China's borders. Hubei province has been hit particularly hard.

Latelythe words heard most often from the publicthe media and government officials around the world seem to be a mix of anxietypaniccareful analysis and wild speculation. Most comments delivered support for the victims and encouragement for the doctorsnurses and researchers struggling to contain this sudden outbreak. Some comments have been less constructivehowever.

The problems exposed in the public health emergency management system are considerable and deserve serious attention. Improvements must be made in order to prevent minor diseases from becoming major health problems. In future there must be a quicker response with more transparency. Meanwhilewhat is needed is a functional system that can take decisive action and execute clear instructions that are implemented promptly. The incorporation of biosecurity into the national security system will be a critical step in constructing security barriers for public health.

In terms of spiritual strengthChina has described the fight against the epidemic as a people's warin which the cohesion of 1.4 billion Chinese people has indeed been impressive. The epidemic emerged just ahead of the Chinese Spring Festival when most Chinese are normally on the move during this most important holiday on the Chinese lunar calendarThis yearhoweverfor epidemic preventiontravel and all forms of public entertainment have been suspendedwhich are showing a considerable impact now. When trouble occurs in one placehelp arrives from all quarters. The Chinese people are working together to overcome their difficulties.

In terms of economic developmentthe blow to the economy from the coronavirus is severe but not devastating. There will be a rebound in economic activity. Misfortune never travels alone. The coronavirus has emerged just as the Chinese economy is confronting trade disputes and domestic economic downward pressureand it brings more challenges to the Chinese government and the nation. Under the hard work and cooperation among peoplethe economy of China is on the way to post-virus rebound as the virus has been effectively controlled. On the timeline of economic developmentthe coronavirus is merely one "point" which is short-lived. Development is the core issue and that will continue to be so.

Pantone,the company famous for color standardization and its "color of the year" pronouncements,has said this year's choice is blue. With the  coronavirus outbreak,that seems appropriate as the year has started off with a melancholy feeling. But mixed in with the sadness there is also hope that efforts to counter the epidemic will prevail and that clear blue skies lie ahead.