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Friday, 14 February 20
WHY THE WORLD ECONOMY WILL BE FACING CHINA'S CORONAVIRUS FOR A LONG TIME - CNBC
 Everywhere we look we see the headlines and commentators talking about the coronavirus and its impact on tourism, trade and investment between China and the West — and China and the U.S., in particular. However, there are far-reaching effects that have not been contemplated fully beyond the intuitive assessment.
Things move slowly. China has long been known as a country with patience, which in business language translates to longer lead times in the transactional arena, sometimes exhaustive negotiations, and relationships are built over time. Many of these relationships are created in the environment of trade shows, conferences, information exchange platforms, and trade delegations. China has finely tuned this method of cross-border introductions and it is a continuous process.
Combined with this is the growth of the multinational business presence in China. Major retailers, manufacturers, pharmaceuticals, biotech, automotive and other sectors are firmly planted in China with technology and personnel. Now, with the essentially closed border with China, the rest of the world waits and watches. To the business community, this is unsettling, to say the least, because there is no accurate predictor of when a vaccine may be found or when the world threat eradicated. Even when those pronouncements are ultimately made by Beijing there is the inherent distrust of information disseminated by the Chinese government.
So what does all of this mean for cross-border business in the short and long term?
An aerial view reveals that the movement of people and technology and deal closure have simply come to a halt. When the Chinese government, or other governments, or the WHO pronounce that it is safe to travel to China again, that will not be the end of it. There has been a worldwide reaction to the scare. The tradeshow and related cancellations have occurred not only in China but throughout Asia and into Europe. Therefore, a wide swath of activities are upended across all business sectors.
The rate of new cases slowed on Wednesday. As of this writing, there have been more than 45,000 cases of Covid-19 and over 1,100 deaths. Businesses from cruise ships to luxury brands and air travel, as well as global markets like oil, have all been hit. There can be no question that it will be a slow and painful process moving back to normalcy. Professional offices remain closed indefinitely, and 90% of businesses are closed or at dramatically reduced hours. Theaters, factories and others where people congregate are closed.
We are all familiar with the recent comparisons of coronavirus with SARS, but there is no real comparison. SARS was perceived as essentially a Hong Kong-centric event and everyone wondered if that would be the death of the HK economy, coming a few years after the handover. Moreover, social media and its impact on global interaction were just launching, and China’s interaction with the world economy was in its infancy.
Transparency will be the key to short term confidence which will lead to a long-term recovery. This is despite short-term pain and embarrassment. All governments can learn a lesson from this, but Beijing has yet to learn it. It may very well be that Wuhan, as ground zero for the Coronavirus, never recovers. The headlines today paint Wuhan as a pariah city, in a wartime battle and in lockdown. The Chinese Chernobyl. These characterizations will not be easily shed. Wuhan, as the capital of Hubei province, has positioned itself as a foreign investment hub and has developed trade, manufacturing and export and development zones to highlight its growth and position within China. Companies will have to assess whether or not their investments should remain in Wuhan or be moved.
Considering China’s impact on the world economy, China will not be off limits to future investment forever. Instead, there will be wariness and unbridled caution for the foreseeable future. Businesses will seek alternatives to avoid commercial and liability issues.
In the best case, returning to normal is not a reasonable expectation in the short term. In the long term, China must take all steps necessary to demonstrate its commitment to transparency regarding all factors relating to the virus. In today’s economy, there are many alternatives for trade and investment and China must recognize that its global trade partners need regular and repeated reassurances. Additionally, China will need to inject substantial financial incentives into the economy to balance against commercial and optical risks.
In the best of circumstances, this process will take six to nine months to see the way forward to a stable and commercially feasible reintroduction of business, confidence and renewed investment. This will require unrelenting adjustments as events require. There is no single action or vaccine that will erase the impact of the coronavirus. A group of actions are needed to restore the zeal and excitement for consumer, business, investment and tourism.
Anything less will create a lingering atmosphere of caution and distrust.
Source: CNBC
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Friday, 14 February 20
IS THE US COAL INDUSTRY COMPLETELY BURNED OUT? -FORBES
This is the fourth of a multi-part series on the state of the main sources of energy in the US and how they compare globally. The series will cover ...
Friday, 14 February 20
FITCH RTGS: GLOBAL PORTS VULNERABLE TO CORONAVIRUS - RELATED VOLUME DECLINES
Global ports will see reduced trade volumes as a result of the coronavirus, COVID-19, which would become more severe should Chinese production take ...
Thursday, 13 February 20
INDIA: MAJOR PORTS SHOW MUTED GROWTH IN CARGO AS THERMAL COAL VOLUME SLIDES 15% - BUSINESS STANDARD
A sharp slide of 15 per cent in thermal coal volumes weighed on the performance of major ports during the period of April-January of FY20. The majo ...
Wednesday, 12 February 20
REFINING SET FOR A CHALLENGING 2020 - WOOD MACKENZIE
Downstream isn’t the glamorous end of the oil business. And in Big Oil, it’s typically dwarfed by upstream. Yet having been forced to r ...
Wednesday, 12 February 20
COAL INDIA WILL EXCEED LAST YEAR'S PRODUCTION FIGURES: OFFICIAL - PTI
Despite coal production being hampered at Dipka mines due to prolonged rains, Coal India Ltd will exceed last year’s production figures, a to ...
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- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- The University of Queensland
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
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