Swine Flu, You Cannot Stop Us!
05/07/2009 13:57 EST (0148 GMT)No doubt, the Type A H1N1 influenza originated from Mexico poses a fair challenge for the global economy which is now making its way recovering from the financial crisis. And at the same time, the life and business of people around us are thus being changed.
As early as the advent of financial crisis in 2008, the World Bank projected that if there's pandemic influenza 3 trillion US dollars will be paid by the world. And there would be a total 5% shrink of all the countries' GDP followed.
Not to mention the most two serious affected countries in the world: Mexico and the U.S. Previously, the financial secretary of Mexico has announced that the outbreak of Type A influenza (swine flu) may pose a grave impact on Mexico's economy. Also, some economists forecast the worst case for America would be a 0.3% shrink on GDP of 2009.—the biggest drop since World War II.
Across the ocean, Chinese people are also deeply concerned of this flu's impact on China's economy. The head of China Banking Regulatory Commission, Liu Mingkang admitted the pandemic flu is a big frustration on the recovery of world economy, even China's.
Since last week, when the influenza broke out in Mexico and America, the share prices of the new Ng Fung, Shunxin Agriculture, New Hope and other listed companies related with pig raising industry in the A share all fell sharply. On the other hand, companies of negative correlation with the epidemic like some bio-med companies and e-business listed companies all reached the high limit in the share market.
As a matter of face, summarizing the impact on economy during grave epidemic in history, we will find out the winners and losers are relatively remaining unchanged. Industries like aerospace, traveling and related stock raising would bear negative influence while industries like bio-med, e-business and other modern service industry would see brand-new opportunities for development.The acute Zhejiang businessmen would definitely minimize the damage of epidemic and seize new development opportunities. Ma Yun and his Alibaba set a good example. Being great influenced by the SARS in 2003, Alibaba made its fame through this crisis.
As for people in old times, epidemic is a tomb since they can do nothing to stop but wait for the death. In contemporary times, we fight the evil but few win. In today's society, the epidemic tests the ability of tackling problems of governments and the coordination between countries.
We believe, after addressing the SARS crisis successfully in 2003, out government and enterprises would confront the Type A H1N1 influenza with more calm and confidence. As a result, although the epidemic brought negative influence to our society, but it will and can not stop Zhejiang and even China out of the bog of global financial crisis.
