Thursday, February 20, 2020
Waves of one sea
The Covid 19 virus outbreak has shown the world how immeasurably connected we are. The global system is at risk in so many aspects.
Apart from Wuhan putting 46 million people on lockdown, about 3700 passengers on board a cruise ship had to be quarantined for 2 weeks after one former passenger who alighted in Hong Kong was found to have the virus. More than 600 passengers have tested positive so far.
This outbreak could lead to US$5 billion in airline losses globally . Chinese tourists alone made nearly 150 million trips abroad and their spending overseas amounts to US$130 billion. Imagine an outbreak among a few people at the animal market in Wuhan has now affected the livelihood of millions around the world who depend on tourism, including the peddler who sells souvenirs outside a Thai temple frequented by tourists.
Shopkeepers, restaurant operators, grab and taxi drivers are struggling to stay afloat. One can imagine the domino effect when consumer spending drops drastically. Job losses seem inevitable without government support.
The global supply chain is at risk highlighting the reliance on China for parts and assembly. Companies around the world including Apple and Nissan are affected with some suspending production temporarily. An estimated 80% of all active pharmaceutical ingredients, the raw materials for drugs, are produced in China and India according to a senior advisor at Hasting Centre. "They include compounds used to treat everything from bacterial infection and cancer to heart disease and diabetes". With closed factories in China the inventory is running short and according to the University of Minnesota the issue is acute.
International education and related services was Australia's third largest export after coal and iron ore. Travel restrictions could cut A$6 to $8 billion for the first half of the year in a worst case scenario. Restaurants and beauty salons around RMIT university and Box Hill in Melbourne which are normally buzzing are now empty.
The above highlight the seamless boundaries in today's world and our inter dependence and connectedness.
"We are all the leaves of one tree
We are all the waves of one sea"
Thich Nhat Hanh
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