The impact of the coronavirus on international trade
Jeremy Schwartz, CFA, Executive Vice President, Global Head of Research
On last week’s “Behind the Markets” podcast, we had two interesting conversations on very timely and topical issues.
The first was with Professor Yanzhong Huang, a global health care expert and senior fellow at the Council on Foreign Relations.
The second was with Ken-Hou Lin, co-author of the new book Divested: Inequality in the Age of Finance.
While last year’s market-moving headlines surrounded China trade-related issues, the beginning of February has been dominated over the fallout from the coronavirus.
Professor Huang shared his perspective on China’s response thus far. One important factor he highlighted as China tries to get its people back to work and off their extended holiday (and quarantines) involves the shortage of face masks. China can produce about 20 million per day, which is half of the world’s capacity, but more than 1.8 billion per day are in demand. This mask issue will be one bottleneck for how quickly China gets fully back to work.
Finance as a Cause of Inequality?
Professor Lin’s book is a broad look at factors that he believes fostered the movement toward inequality we’ve faced over the last 30 to 40-years.
- Professor Lin discussed the rise in corporate profits for the Financials sector and how it used to average 15% but has grown to average 25%.
- The average Financials sector worker makes 40% more than the non-Financials sector worker.
The book makes some strong statements, such as:
“Finance is supposed to serve the economy by allocating capital to its most productive uses. It has morphed into a snake ruthlessly devouring its own tail.”
And:
“Instead of smoothing economic fluctuations and managing uncertainties, finance generates mistrust and intensifies precariousness among American families.”
We discussed on the podcast what might restore trust in finance, and Professor Lin settled on transparency.
WisdomTree agrees wholeheartedly, and one of reasons we’ve embraced the exchange-traded fund (ETF) structure is the transparency of fees and transparency of holdings the ETF requires. We think some of the nontransparent ETF discussions taking place today are a step backward in re-establishing trust.
Professor Lin’s book is a timely and important reflection of discussions happening in this year’s election with remnants of the Occupy Wall Street movement. All of us in finance must do better to restore the trust Professor Lin believes we lost.To listen to these conversations, please follow the links below:
This article first appeared on the WisdomTree blog on February 11.
Photo Credit: Kevin Gill via Flickr Creative Commons
Source: https://investing.interactiveadvisors.com/2020/02/the-impact-of-the-coronavirus-on-international-trade
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Whistler Blowers, Insiders
YAWN – really worth the effort – A Shortage In Facemasks
Same Old Same Old Rinse & Repeat FEAR PORN PROPAGANDA PLAYBOOK – IN PLAY – YET AGAIN
WHY NOT PUSH REAL TRUTH e.g according to experts -vs- the 2000 deaths and 75,000 infected HYPED PROPAGANDA SIDE
….There are probably >>> 10X as many
ie >>> 3/4 MILLION >>> that will have been infected
- BUT – the symptoms …. ARE QUOTE >>>>> “SO MILD – THAT NOBODY NOTICED”
Read some FACTS with links to the SOURCED EXPERTS !!
…………………………………………………………………….
EMPHASIS >>> ITS SO INSIGNIFICANT AS A VIRUS… THAT
Real Experts state – there are probably…. 10X as many people infected – that have symptoms >> TOO MILD TO EVEN NOTICE
- than those…. that are being recorded
SO THAT’s >>> 3/4 of a MILLION infected – but – THEIR SYMPTOMS ARE TOO MILD….. TO EVEN NOTICE !!!
…………………………………………………………….
LETS GET INITIAL OFFICIAL GOVERNMENT CONFIRMATION (Fuller Details Lower Down on THE ACTUAL NUMBERS)
CANADIAN GOVERNMENT / HEALTH CANADA
QUOTE “coronaviruses are common …..and are typically associated ….with mild illnesses,
similar to the common cold. (Unquote)
QUOTE >>> Those who are infected with COVID-19 may >>>>have little to >>> NO symptoms.
You may… NOT KNOW ……you have symptoms ….of COVID-19
because they are similar to …. a COLD or flu. (UNQUOTE)
https://www.canada.ca/en/public-health/services/diseases/2019-novel-coronavirus-infection/symptoms.html
…………………………………………………………………………………………………
>>> BREAKING >>> MUST READ >>> BREAKING >>> MUST READ !!
UK GOVERNMENT >>> OUTS >>> POPEYE – PRATTchett & LISA HAVEN >>> As FEAR MONGERORS – SPREADING FEAR PORN !!
QUOTE “For those who are in contact …. with a suspected case ….in a childcare or educational setting, >>>> no restrictions…. or special control measures ….. are required (Unquote)
…………………………………………………………………………………………………………………………………………….
FULL QUOTE 17 Feb Public Health England and the Department for Education
have…… issued headteachers and childcare providers …with fresh guidance
Schools and nurseries ….do not need to close…. or send pupils home
…. in the event of…. contact with someone …. suspected of having … the coronavirus,
according to new guidelines to be issued to schools across the UK this week.
For those who are in contact …. with a suspected case ….in a childcare or educational setting,
>>>> no restrictions…. or special control measures ….. are required
https://www.theguardian.com/world/2020/feb/16/headteachers-are-told-to-stay-calm-and-keep-schools-open
For most – THE Actual Symptoms are JUST ….
- A RUNNY NOSE
- A COUGH
- A SORE THROAT / Fever (high temperature).
The vast majority of patients – at least 97 per cent, – will recover from these >>>> without any issues…. or medical help.
……………………………………………….
LOS ANGELES TIMES
Thousands of people in China and elsewhere ….have been infected ….. but have had…
>>>> such mild reactions that >>>> no one even noticed,
- said Dr. Tom Inglesby, director of the Center for Health Security at the Johns Hopkins Bloomberg School of Public Health.
https://www.latimes.com/science/story/2020-01-24/china-coronavirus-panic
The UK’s BBC News COMMENTS – Re INFECTED – HAVING SUCH MILD REACTIONS >>> NO ONE NOTICED >>> FROM THE LARGEST STUDY TO DATE (The paper by the CCDC, released on Monday and published in the Chinese Journal of Epidemiology, looked at more than 44,000 confirmed cases of Covid-19 in China as of 11 February
………………………………….
– So Known Infections 72,436 x 10 = 724,000 Who Will Have Had Symptoms – Too Mild – To Notice – YES >> ¾ Million
…………………………………..
QUOTE >>> Re The Known 72,436 infections
- Scientists have estimated there could be …..10 times as many people infected ….. as are ending up in the official statistics.
That ALSO means the….. overall death rate IN THE REST OF CHINA (Outside Hubei) is likely to be
>>> lower than the 0.4% (rest of China) reported in this study (ie 10X LOWER – Making the death rate potentially ONLY 0.04)
https://www.bbc.co.uk/news/world-asia-china-51540981
Its a lightweight WIMP in Viral Terms
………………………….……………………………..
AND ALSO
EXPERT OPINION FROM – HEALTHLINE.COM
The bottom line
Extensive news coverage of the new coronavirus outbreak …. can make the situation
>>> seem much worse …. than it actually is.
>>> Influenza virus …. still causes>>>> far more >>> illness and death worldwide.
EXPERTS also emphasize – that this outbreak >>>> is significantly …… less dangerous
>>>> than previous….. coronavirus epidemics…. . like SARS and MERS.
https://www.healthline.com/health-news/dont-freak-out-about-the-coronavirus-just-yet#The-bottom-line
…………………………………………………………………………………………………………………………………..
THE NATIONAL POST
A recent article by University of Hong scientists published >>>>> by the journal Lancet states …..
Based on the number of reported deaths when the paper was published Friday,
Coronavirus would actually produce….. a mortality rate of >>>> just 0.2 per cent — akin to that >>> of regular influenzas.
“We don’t freak out about seasonal flu, …..we experience it every year,”
said Matthew Miller, a microbiologist who studies viruses at McMaster University.
“The people most likely to die from seasonal flu are …….the elderly and the very young
… The same is very likely to be true …….with this …… new coronavirus outbreak.
The people who are at highest risk …..are the people at the highest risk >>>> for any type of infection.”
There seems to be so much…. active disinformation spread,” said Falzarano.
“Things coming out …. >>>> are just nonsense, ….. and then are picked up ….by the media.”
https://nationalpost.com/health/new-coronavirus-may-be-no-more-dangerous-than-the-flu-despite-worldwide-alarm-experts
Experts DAILY MAIL NATIONAL NEWSPAPER 10th Feb 2020
What does the virus do to you? …… What are the symptoms?
Once someone has caught the COVID-19 virus it may take between two and 14 days, or even longer, for them to show any symptoms.
IF … and when …they do become ill, …. typical signs include
- A RUNNY NOSE
- A COUGH
- A SORE THROAT / Fever (high temperature).
The vast majority of patients – at least 97 per cent, ….. based on available data – will recover from these >>>> without any issues or medical help.
https://www.dailymail.co.uk/health/article-7987001/Death-toll-killer-coronavirus-10-TIMES-higher-average-Chinas-Hubei-province.html
SYMPTOMS A Runny Nose, Sore Throat, A Cough & A Raised Temperature & OVER 97% Fully Recover With NO Medical Help.
So There You Have It – CoronaVirus – Ranks the lowest of the low, the bottom of the bottom
in a weakest of the weak league of it’s own – when it comes to viral threat & dangers
The REST is Just CLICK BAIT & FEAR PORN PROPAGANDA