Source: Taiwan Economic Daily
Economic Daily News
The situation of the new crown pneumonia's epidemic in mainland China seems to have been preliminary control, but outside China, from Asia, the Middle East to Europe, and the Americas, it is quite impressive, and it is quite trendy.
Former US Assistant Secretary of State Campbell recently said at the Hudson Institute of the U.S. Think Tank that at the beginning of the incident, China took incredible and strict measures to give us time.But I don't think that we firmly seize this opportunity and make full use of this time.Campbell's words, of course, refer to the city, provinces, villages, and roads in mainland China in a very severe and thorough way to do their best to control the epidemic and prevent the spread.
At the same time, some Western countries led by the United States, including Italy, Russia, etc., and they stunned that a large number of people and goods between China and China were suspended. Many countries watched it coldly, watching the fire from the other side, or ridiculous and down the stones.In fact, this is what Campbell is regrettable and distressed. Many countries do not firmly seize the opportunity and make necessary prevention preparations.
Although the Chinese government's practices are strict, the purpose is to try to control the virus in every individual area to prevent the spread; China's countermeasures are not only good for China, but also to all countries.Of course, this is expensive in terms of production, consumption, and circulation, but obviously there is no choice.
In essence, the 2020 epidemic crisis is fundamentally different from the previous financial and economic crises.The East Asian financial turmoil in 1997 and the 2008 Century Financial Tsunami all originated from a huge bubble. After the bubble was broken, the demand was beaten back to its original shape.Pain and long.But in general, the problem is only on the demand, and the supply structure of various countries and the world is not much damaged.
This time the epidemic crisis is different, and the problem is all supply.The global supply structure is widely cut off by the country, between the country, the provincial (state) and the province (state), the city, the city, the village, and the village.It can be said that the global supply structure is undergoing comprehensive and systematic destruction. In these cases, the world is rare.
Since the problem is concentrated on the supply surface rather than the demand surface, the Federal Federation (FED) has unexpectedly significantly cut interest rates and rescue the market, and the capital market has not responded positively.Because both monetary policies and fiscal policies belong to the total demand management policy, and they are targeted at total demand.When the total demand is low, the policy expansion; when the total demand is high, the policy is tight.It should be said that many countries including the United States are headache and have failed to apply the right medicine.
In contrast, after the epidemic was preliminary control, Mainland China has done its best to promote the resumption of production and re -production, and compete with time to minimize the destruction of the supply chain and maintain the survival opportunities of all difficult companies in the residence as much as possible.If so, not only in China and even the global economy will be unbearable.
Raise some media reports.Wuhan's automobile industry brings together the five major vehicle series of the United States, Japan, France, Britain, and China. There are more than 600 related companies, and more than 13,000 auto parts enterprises in China; Wuhan has pressed the suspension chain.Panic.The mobile phone is another example. Zhengzhou Foxconn supplies the total iPhone output of more than 60%. Foxconn is difficult to produce, and the iPhone global supply chain will break the chain.
Outside of the manufacturing industry, the agricultural disaster is also very serious, because China is not only the world's largest factories, but also the world's second largest market.Not long ago, New Zealand poured all the 100 tons of live lobsters that had just been caught back to the sea, because there was nowhere to be frozen to hoard; Chile's cherry and other fruits accumulated like mountains, all of which were sold at low prices.These are the results of Chinese consumers suspended for a month of consumption due to the broken supply chain.
Of course, in addition to industry and agriculture, the service industry has not been spared.Chinese tourists are located at home, and airlines, cruise ships, hotels, restaurants, and travel agencies of various countries have to take a small month, but they can't close the door.This is why currency and fiscal policies are not the focus. The real key is to resume work and re -production, and during this period, everything may be baptized.
According to reports, after preliminary control of the epidemic, Mainland China has begun to provide medical objects and medical experts in Japan, South Korea, Iran, and Italy, which is also equivalent to rewarding some friendly countries that have helped China.A new crown pneumonia epidemic, fully reflects that the community of human destiny in the global situation is no longer an abstract concept.
