6 Current developments
Being
the most developed country in the world, we cannot protect our own health care
workers with limited supplied of masks and protective gears. Unless you are a
dedicated Trump’s fan, you should tell that Trump has not been doing a good job
in fighting this virus. How many have died because of his delay in fighting
this virus? His speeches are full of self-promotion and not accepting the ideas
from his expert advisers.
We
have to ask China, a developing country, to donate and sell us the
desperately-needed supplies. We’re lucky that China has controlled the virus
and have manufacturing capacity for these supplies.
There
are potential lawsuits against China on this virus. Until they are
clear, I would not invest in China (FXI in my case). Most countries including
ours will take better preventive actions for the next pandemic.
Affecting China
With Australia, United Kingdom,
U.S. want to punish China to pay for our damages due to this virus. It will
certainly be won in the U.S. court but not in a Chinese court. China will not
pay for any damages. Here are some proposals from U.S.:
·
Forgive our debts to China. Many foreign
countries would dump our debts. The status of USD as a reserve currency would
be shaken.
·
Freeze China’s assets in U.S. No country would
have assets in U.S.
·
Confiscate or delist Chinese stocks listed in
U.S.
China will not agree to any of
the above. There is a good chance the virus was started in U.S. Should U.S. pay
for the losses from the 2008 financial crisis and the 2009 H1N1 virus spread
from U.S.? They will win in the U.S. court of course, but the real objective is
to reduce the positive impact of China’s aids to the world on this virus.
The obvious counteractions are
doing the same to U.S. companies in China. It would lead to decoupling and even
a military war. Our leaders will risk for a war when their election is in
jeopardy.
China should be careful on the
donations. Ensure N95 masks are up to the U.S. standard (98% protection instead
of 95%) and / or there is a clause of no liability. Our system is making money
by the parasites also known as lawyers.
Holland accused China on the
quality of the donated aids. They should be directed to other countries and
China should not give them anything free any more. They use it as a tool for political
Chinese bashing. When they order, they should understand the 3 types of masks
and should have samples before shipment. Some test kits should be transported
in refrigerators. Here is a response from CGTN and
how the West/U.S. demonizes China.
Affecting globalization
We cannot depend all our
manufacturing on China. For example, 3M produces most masks in the world and
many of their factories are in China. Most active drug ingredients are from
China. We need the sources are from several sources: China, at least one other friendly
source and the U.S. The last two may not be profitable, but they are for real
national security.
Affecting our economy
The 2 trillion aid will be paid
back somehow and someday. Our national debt will break another record. It will take
a long recession and a long time to recover the market. Many countries will
reduce USD as a reserve currency.
We have to make sure the 2T aid
will not be used to pay for bonuses to executives and / or buybacks (to boost
the stock price of the company and hence the profits of executives’ stock
options). Cheat us twice, shame on us.
I expect at least 20% peak for
unemployment.
Affecting our society
We have not prepared how to help
the homeless. On-line schooling is not adequate for the poor who do not have
internet, slow internet or no PC. The minority suffers more. Some have to work
and some live in crowded houses.
Affecting our military
The U.S. military is at a halt
after finding out 200 or so soldiers in a carrier are coronavirus positive. Is it
a big hole?
Affecting our health
The number of deaths and the
infected have passed China. We do not have inventory and manufacturing capacity
to the required medical supplies.
China’s data could be far smaller
than the actual. However, I watched many YouTube videos taken by citizens and
they showed they’re partially recovering as of 4/1/2020.
China has the experience from
SARS and knows how to deal with it. Our leader told us not to wear masks
initially due to our limited supply. Most Asians in many countries including
China wear masks in the street. Even the best masks are not bullet-proof and
staying home is the best bet.
Affecting our leadership
Initially Trump took it less
seriously and it led to many unnecessary deaths. We do not want to learn from
China. Is saving face more important than our lives?
Trump is not a ‘wartime’ leader.
Most of his talks were used to promote himself and his reelection. He has not
listened to his advisors. He played politics on medical supplies on NY as NY,
NJ and CT did not vote for him.
Moving 3M back from China, the
world’s largest mask manufacturer, is too late for virus.
Can GE, Ford, Tesla make
ventilators good and fast enough in such short notice? Is it easier to ignore
our dumb nationalism and order them from China?
States compete with each other in
getting the medical supplies and usually pay far higher prices. Is it the
Federal’s job to buy and distribute them or setting up agreed prices?
We have been ill-prepared for
this virus. After this virus, please better prepare for the next one; this is
not the last one.
CDC have not done a good job.
First, the initial test kits are too expensive for general public use. Second,
not wearing masks is a wrong advice. Dr. Fauci has done a great job even
risking offending his boss.
As of 4/4/2020, the medical ships
have only a few patients. What’s wrong?
Heroes are born with crises.
Thanks to all the medical workers, medical researchers and essential workers.
Governor Cuomo, Dr. Fauci, Patriots owners and many others who show leadership.
The captain of a carrier was
fired due to warning on the virus. A hero or a victim? The one who fired him
should be fired.
Affecting the world
Most countries have not prepared
for this virus. Hopefully, they will be better prepared for the next one.
Affecting drug / vaccine development
We have been experiencing
light-speed development of the drugs and vaccines today. Vaccines can be
developed in two weeks and drugs in a month. The new drugs will be given to
dying patients and most likely some drugs will be mass produced and used in
China first.
Traditional Chinese medicines have been found useful in some cases. I bet Yu who discovered a cure for malaria is finding the cure for this virus too. Plasma from recovered patients could be a breakthrough. However, it would take up at least 6 months for the general public (shorter time for vaccines). Here is one YouTube for the drug.
Traditional Chinese medicines have been found useful in some cases. I bet Yu who discovered a cure for malaria is finding the cure for this virus too. Plasma from recovered patients could be a breakthrough. However, it would take up at least 6 months for the general public (shorter time for vaccines). Here is one YouTube for the drug.
I believe hydroxylcholoroquine (referred to HC now) may have some effect. There
was a big debate in the White House. They found a lot of HC on stockpile. Dr. Fauci
argued against using it due to not testing it enough. Sweden tested it and bans
using it due to the many side effects.
The following is from my
classmate who was a retiree from pharmacy.
Here are the healthcare providers comment on HC use:
Why Trump push for its use is beyond me. China has already
tried it, and Nigeria banned its use on Ebola & covid19 use.
Trump wants to use it against Dr.
Fauci, because he has his personal stake in the malaria-drug maker Sanofi,
according to this article:
So far, I put more confidence in
the other 2 drugs, Avigan tablet, made in Japan since 2014, and (Gilead’s) Remdesivir.
Avigan has been tried on Wuhan mild to moderate infected patients with some
early promising results, testing negative after the 4th day of use. Yesterday,
Japan and China announced joint collaboration on Avigan's
covid19 effectiveness data.
Affecting our environment
Will the used, disposable masks
an environment disaster? Recycle could be the answer.
#Filler: Miss
Mia
In my first job just after the
Vietnam War, every one tried to date my beautiful office mate Mia except me. If
we married, then her name would be Mia Pow. She would be very popular, or very
unpopular without showing her beautiful face. In any case, when she becomes a
mother, she will be Mamma Mia.
BTW. I was the “comfort man” due
to the gender gap during the Vietnam War.
--------------------
The above is from my book "China: Trade War and Coronavirus".
https://www.amazon.com/dp/B086R1586C
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