• Latest
  • Trending

China shows ability to rapidly contain coronavirus, but it still needs quality-focused development, says U.S. expert

May 24, 2020
India to Supply Fuel to Sri Lanka Only After Advance Payment

India to Supply Fuel to Sri Lanka Only After Advance Payment

July 6, 2022
Sri Lanka offers special port facilities to Bangladeshi vessels

Sri Lanka offers special port facilities to Bangladeshi vessels

July 6, 2022
India top lender to Sri Lanka in 2022 so far, displacing China

India top lender to Sri Lanka in 2022 so far, displacing China

July 6, 2022
Central banks are increasingly keen on the yuan, according to a new survey. Lucas Schifres/Getty Images

China’s yuan is making headway a global reserve currency, with 85% of central banks keen on holding the asset

July 6, 2022
Zimbabwe’s central bank said it would start selling gold coins

Zimbabwe to introduce gold coins as local currency tumbles

July 6, 2022
Two ships docked at Colombo Port begin unloading fuel

India to supply fuel to Sri Lanka only after advance payment

July 6, 2022
Ranil-Wickremesinghe Sri Lankan PM

I can turn around Sri Lanka’s economy: PM Ranil Wickremesinghe

July 6, 2022
Prime Minister Boris Johnson

UK PM Boris Johnson in crisis as top ministers quit

July 6, 2022
Electricity

Power cut schedule for July 6 in Sri Lanka

July 5, 2022
Sri Lanka current economic crisis is similar to 1970s: New York Times article from 1974

Sri Lanka current economic crisis is similar to 1970s: New York Times article from 1974

July 5, 2022
Rain. Image credits - Max Bender @maxwbender / Unsplash

Why Australia is battling floods again

July 5, 2022
The highest paying jobs without a degree in 2022

The highest paying jobs without a degree in 2022

July 5, 2022
  • About Us
  • Advertisements
  • Privacy Policy
  • Contact
Wednesday, July 6, 2022
No Result
View All Result
NewsIn.Asia
  • Home
  • Around South Asia
    • All
    • Afghanistan
    • Bangladesh
    • Bhutan
    • China
    • India
    • Maldives
    • Myanmar
    • Nepal
    • Pakistan
    • Sri Lanka
    India to Supply Fuel to Sri Lanka Only After Advance Payment

    India to Supply Fuel to Sri Lanka Only After Advance Payment

    Sri Lanka offers special port facilities to Bangladeshi vessels

    Sri Lanka offers special port facilities to Bangladeshi vessels

    India top lender to Sri Lanka in 2022 so far, displacing China

    India top lender to Sri Lanka in 2022 so far, displacing China

    Central banks are increasingly keen on the yuan, according to a new survey. Lucas Schifres/Getty Images

    China’s yuan is making headway a global reserve currency, with 85% of central banks keen on holding the asset

    Two ships docked at Colombo Port begin unloading fuel

    India to supply fuel to Sri Lanka only after advance payment

    Ranil-Wickremesinghe Sri Lankan PM

    I can turn around Sri Lanka’s economy: PM Ranil Wickremesinghe

    Electricity

    Power cut schedule for July 6 in Sri Lanka

    Sri Lanka current economic crisis is similar to 1970s: New York Times article from 1974

    Sri Lanka current economic crisis is similar to 1970s: New York Times article from 1974

    Vaccine. Image credits - Swarnavo Chakrabarti / Unsplash

    Authorities in Sri Lanka issue a Covid wave warning

  • World
    • All
    • Japan
    • Russia
    • United Kingdom
    • United States
    Central banks are increasingly keen on the yuan, according to a new survey. Lucas Schifres/Getty Images

    China’s yuan is making headway a global reserve currency, with 85% of central banks keen on holding the asset

    Zimbabwe’s central bank said it would start selling gold coins

    Zimbabwe to introduce gold coins as local currency tumbles

    Prime Minister Boris Johnson

    UK PM Boris Johnson in crisis as top ministers quit

    Rain. Image credits - Max Bender @maxwbender / Unsplash

    Why Australia is battling floods again

    The highest paying jobs without a degree in 2022

    The highest paying jobs without a degree in 2022

    Pomegranate Juice

    Fifteen health benefits of pomegranate juice

    Queen Elizabeth

    Five ways the monarchy has benefited from colonialism and slavery

    Why is the UK economy suffering more than other countries?

    Why is the UK economy suffering more than other countries?

    Covid health guidelines. Image credits - Phil Hearing / Unsplash (Representational image)

    Covid: UK hospital cases set to rise, says health chief

  • Business
  • Politics
  • Sports
  • Entertainment
    • All
    • Books
    • Gaming
    • Movie
    • Music
    • Series
    Kamal Haasan's Vikram is on a rampage.

    Kamal Haasan’s Vikram is the highest-grossing film in Singapore, UK and UAE

    Harry Potter and the Philosopher's Stone

    ‘Harry Potter and the Philosopher’s Stone’ celebrates 25 magical years

    Salman Khan

    Plot to kill Bollywood actor Salman Khan revealed

    Shah Rukh Khan's Jawaan, to be directed by Atlee, to scheduled for June 2023 release. (Photo: Twitter)

    Shah Rukh Khan announces new film ‘Jawaan’

    Chchutir diner Gaan by Bangladeshi singer Nondita

    Chchutir diner Gaan by Bangladeshi singer Nondita

    Song “Bechain Nazar Betaab Jigar”. Talat Mahmood. Film “Yasmin” 1955

    Song “Bechain Nazar Betaab Jigar”. Talat Mahmood. Film “Yasmin” 1955

    ‘KGF Chapter 2’

    ‘KGF Chapter 2’ becomes 3rd-highest-grossing Hindi film

    Popular Bollywood stars Ranbir Kapoor and Alia Bhatt were married Thursday in a private ceremony at their Mumbai residence. Image credits - Sujit Jaswal via AFP / Getty Images

    Bollywood stars Ranbir Kapoor and Alia Bhatt marry in Mumbai

    Lata Mangeshkar: Ae Chand Pyara. Film Khazaana 1951. Music C.Ramchandra. Lyrics Rajinder Krishan

    Lata Mangeshkar: Ae Chand Pyara. Film Khazaana 1951. Music C.Ramchandra. Lyrics Rajinder Krishan

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Science
    • Travel
    Pomegranate Juice

    Fifteen health benefits of pomegranate juice

    This April 2022 handout photograph provided by RR Auction shows cockroaches which were fed moon dust from the 1969 Apollo 11 mission, which were pulled from an auction listing after NASA said the cockroaches and a small vial of moon dust are property of the federal government. (Photo: AP)

    Give us back our moon dust and cockroaches: Nasa

    Moon. Image credits - Ganapathy Kumar / Unsplash

    China finds signs of water in moon’s ‘Ocean of Storms’

    What we should know when we speak of food security?

    What we should know when we speak of food security?

    Beetroot is rich in nitrates and is loaded with health benefits. (Photo: Getty Images)

    Drinking beetroot juice daily could help people with heart condition

    Close-up view of a cancer cell. Credit: Alexey Kotelnikov / Alamy Stock Photo

    Massive breakthrough as cancer vanishes for all patients in drug trial

    India hands over 3.3 tons of medical supplies to Lanka’s ambulance service

    India hands over 3.3 tons of medical supplies to Lanka’s ambulance service

    Lankan Prez orders LKR 1.8 billion (US$ 5 million) to be spent on drugs import  

    Lankan Prez orders LKR 1.8 billion (US$ 5 million) to be spent on drugs import  

    In this 1971 Center For Disease Control handout photo, monkeypox-like lesions are shown on the arm and leg of a female child in Bondua, Liberia. CDC | Getty Images

    The Covid conspiracies being recycled for monkeypox

    Exercise. Image credits - Victor Freitas @victorfreitas / Unsplash

    Best exercise time differs for men and women, says US study

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • Tech
    Bitcoin. Image credits - Onov3056

    Bitcoin slides below $20,000 to lowest level in 18 months

    Digital banking platform Revolut launches in Sri Lanka

    Digital banking platform Revolut launches in Sri Lanka

    Microsoft's Internet Explorer was first included with a Windows 95 upgrade pack. Image credits - Ina Fried/CNET

    End of an era: Microsoft retires Internet Explorer

    Cryptocurrency boom. Image credits - Executium @executium / Unsplash

    Cryptocurrency market value slumps under $1 trillion

    iPhone. Image credits - Tron Le @tronle_sg / Unsplash

    EU deal to force iPhones to use USB-C charger by 2024

    Whatsapp. Image credits - AARN GIRI / Unsplash

    WhatsApp to get edit button, undo messages and other features soon 

    Trending Tags

    • Sillicon Valley
    • Climate Change
    • Election Results
    • Flat Earth
    • Golden Globes
    • MotoGP 2017
    • Mr. Robot
  • Coronavirus
  • Videos
  • Home
  • Around South Asia
    • All
    • Afghanistan
    • Bangladesh
    • Bhutan
    • China
    • India
    • Maldives
    • Myanmar
    • Nepal
    • Pakistan
    • Sri Lanka
    India to Supply Fuel to Sri Lanka Only After Advance Payment

    India to Supply Fuel to Sri Lanka Only After Advance Payment

    Sri Lanka offers special port facilities to Bangladeshi vessels

    Sri Lanka offers special port facilities to Bangladeshi vessels

    India top lender to Sri Lanka in 2022 so far, displacing China

    India top lender to Sri Lanka in 2022 so far, displacing China

    Central banks are increasingly keen on the yuan, according to a new survey. Lucas Schifres/Getty Images

    China’s yuan is making headway a global reserve currency, with 85% of central banks keen on holding the asset

    Two ships docked at Colombo Port begin unloading fuel

    India to supply fuel to Sri Lanka only after advance payment

    Ranil-Wickremesinghe Sri Lankan PM

    I can turn around Sri Lanka’s economy: PM Ranil Wickremesinghe

    Electricity

    Power cut schedule for July 6 in Sri Lanka

    Sri Lanka current economic crisis is similar to 1970s: New York Times article from 1974

    Sri Lanka current economic crisis is similar to 1970s: New York Times article from 1974

    Vaccine. Image credits - Swarnavo Chakrabarti / Unsplash

    Authorities in Sri Lanka issue a Covid wave warning

  • World
    • All
    • Japan
    • Russia
    • United Kingdom
    • United States
    Central banks are increasingly keen on the yuan, according to a new survey. Lucas Schifres/Getty Images

    China’s yuan is making headway a global reserve currency, with 85% of central banks keen on holding the asset

    Zimbabwe’s central bank said it would start selling gold coins

    Zimbabwe to introduce gold coins as local currency tumbles

    Prime Minister Boris Johnson

    UK PM Boris Johnson in crisis as top ministers quit

    Rain. Image credits - Max Bender @maxwbender / Unsplash

    Why Australia is battling floods again

    The highest paying jobs without a degree in 2022

    The highest paying jobs without a degree in 2022

    Pomegranate Juice

    Fifteen health benefits of pomegranate juice

    Queen Elizabeth

    Five ways the monarchy has benefited from colonialism and slavery

    Why is the UK economy suffering more than other countries?

    Why is the UK economy suffering more than other countries?

    Covid health guidelines. Image credits - Phil Hearing / Unsplash (Representational image)

    Covid: UK hospital cases set to rise, says health chief

  • Business
  • Politics
  • Sports
  • Entertainment
    • All
    • Books
    • Gaming
    • Movie
    • Music
    • Series
    Kamal Haasan's Vikram is on a rampage.

    Kamal Haasan’s Vikram is the highest-grossing film in Singapore, UK and UAE

    Harry Potter and the Philosopher's Stone

    ‘Harry Potter and the Philosopher’s Stone’ celebrates 25 magical years

    Salman Khan

    Plot to kill Bollywood actor Salman Khan revealed

    Shah Rukh Khan's Jawaan, to be directed by Atlee, to scheduled for June 2023 release. (Photo: Twitter)

    Shah Rukh Khan announces new film ‘Jawaan’

    Chchutir diner Gaan by Bangladeshi singer Nondita

    Chchutir diner Gaan by Bangladeshi singer Nondita

    Song “Bechain Nazar Betaab Jigar”. Talat Mahmood. Film “Yasmin” 1955

    Song “Bechain Nazar Betaab Jigar”. Talat Mahmood. Film “Yasmin” 1955

    ‘KGF Chapter 2’

    ‘KGF Chapter 2’ becomes 3rd-highest-grossing Hindi film

    Popular Bollywood stars Ranbir Kapoor and Alia Bhatt were married Thursday in a private ceremony at their Mumbai residence. Image credits - Sujit Jaswal via AFP / Getty Images

    Bollywood stars Ranbir Kapoor and Alia Bhatt marry in Mumbai

    Lata Mangeshkar: Ae Chand Pyara. Film Khazaana 1951. Music C.Ramchandra. Lyrics Rajinder Krishan

    Lata Mangeshkar: Ae Chand Pyara. Film Khazaana 1951. Music C.Ramchandra. Lyrics Rajinder Krishan

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Science
    • Travel
    Pomegranate Juice

    Fifteen health benefits of pomegranate juice

    This April 2022 handout photograph provided by RR Auction shows cockroaches which were fed moon dust from the 1969 Apollo 11 mission, which were pulled from an auction listing after NASA said the cockroaches and a small vial of moon dust are property of the federal government. (Photo: AP)

    Give us back our moon dust and cockroaches: Nasa

    Moon. Image credits - Ganapathy Kumar / Unsplash

    China finds signs of water in moon’s ‘Ocean of Storms’

    What we should know when we speak of food security?

    What we should know when we speak of food security?

    Beetroot is rich in nitrates and is loaded with health benefits. (Photo: Getty Images)

    Drinking beetroot juice daily could help people with heart condition

    Close-up view of a cancer cell. Credit: Alexey Kotelnikov / Alamy Stock Photo

    Massive breakthrough as cancer vanishes for all patients in drug trial

    India hands over 3.3 tons of medical supplies to Lanka’s ambulance service

    India hands over 3.3 tons of medical supplies to Lanka’s ambulance service

    Lankan Prez orders LKR 1.8 billion (US$ 5 million) to be spent on drugs import  

    Lankan Prez orders LKR 1.8 billion (US$ 5 million) to be spent on drugs import  

    In this 1971 Center For Disease Control handout photo, monkeypox-like lesions are shown on the arm and leg of a female child in Bondua, Liberia. CDC | Getty Images

    The Covid conspiracies being recycled for monkeypox

    Exercise. Image credits - Victor Freitas @victorfreitas / Unsplash

    Best exercise time differs for men and women, says US study

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • Tech
    Bitcoin. Image credits - Onov3056

    Bitcoin slides below $20,000 to lowest level in 18 months

    Digital banking platform Revolut launches in Sri Lanka

    Digital banking platform Revolut launches in Sri Lanka

    Microsoft's Internet Explorer was first included with a Windows 95 upgrade pack. Image credits - Ina Fried/CNET

    End of an era: Microsoft retires Internet Explorer

    Cryptocurrency boom. Image credits - Executium @executium / Unsplash

    Cryptocurrency market value slumps under $1 trillion

    iPhone. Image credits - Tron Le @tronle_sg / Unsplash

    EU deal to force iPhones to use USB-C charger by 2024

    Whatsapp. Image credits - AARN GIRI / Unsplash

    WhatsApp to get edit button, undo messages and other features soon 

    Trending Tags

    • Sillicon Valley
    • Climate Change
    • Election Results
    • Flat Earth
    • Golden Globes
    • MotoGP 2017
    • Mr. Robot
  • Coronavirus
  • Videos
NewsIn.Asia
No Result
View All Result
Home Around South Asia China

China shows ability to rapidly contain coronavirus, but it still needs quality-focused development, says U.S. expert

Since switching suppliers is easier said than done, China will still remain a key player in the global supply chain

Editor by Editor
May 24, 2020
in China, Economy, Recommend
Reading Time: 4 mins read
3 0
A A
Share on WhatsApp

By Xinhua writers Xu Yuan, Deng Xianlai

Washington, May 24 (Xinhua): The fact that the spread of the novel coronavirus has been effectively contained in China is a demonstration of the country’s ability to handle a public health crisis, a U.S. economist and China expert has said.

In a recent interview with Xinhua, Stephen Roach, a senior fellow at Yale University’s Jackson Institute of Global Affairs, said he expects the qualitative — rather than quantitative — aspects of economic development to gain more discussion at the ongoing “two sessions” in China, namely, the third session of the 13th National Committee of the Chinese People’s Political Consultative Conference and the third session of the 13th National People’s Congress.

ADVERTISEMENT

Quality Focused Development Strategy

Calling the coronavirus-related lockdown in the central Chinese province of Hubei “pretty extraordinary,” Roach said the measures demonstrated “China’s ability to at least control initially a horrible, horrible outbreak.”

The scholar, who was the former chairman of Morgan Stanley Asia, said “the quality of economic growth means more than it ever has for China and for the world.”

“I would hope in the ‘two sessions’ the qualitative aspects of the growth objectives would be addressed more forcefully and more explicitly than they have in the past,” he said.

With respect to China’s status in the post-coronavirus global economic landscape, Roach said “the Chinese economy will do fine” if policymakers stick to the structural reform agenda initiated at the beginning of the century.

Roach’s suggestion is for China to continue pushing ahead with developing domestic consumption, transforming to a more service-based economy, and making progress on indigenous innovation — all of which are key components of the reform endeavors that Beijing has engaged in during the past decade.

Achieving these goals, according to the expert, would require the using of both monetary and fiscal tools judiciously.

As the coronavirus outbreak has forced countries worldwide to enforce domestic social isolation and close national borders, Roach believes that the shock in external demand for Chinese exports “will continue to be negative.”

Yet, he stressed that “the broad case for China in terms of maintaining its position, if not improving it, as a share of world (gross domestic production) should continue.”

Supply Chain Disruption

One of the most detrimental impacts of the coronavirus on the world economy is the disruption of global supply chains.

Roach said the coronavirus pandemic has raised concerns over supply chain stability and “the lack of security that a nation has in being dependent on someone else.”

“That ‘someone else,’ of course in a disproportionate way, is China, which has played a key role at the center of much of the supply chain activity that’s developed in the past 30 years,” Roach said.

Countries like the United States that have been urging companies to pull their supply chains out of China and bring productions back home will face such consequences as rising production costs and spiking commodity prices, the expert said.

Consumers, who Roach said will ultimately pay the additional prices induced by the shift of supply chains, “have counted on prices being low to make ends meet in a period when their income has been under decades of pressure.”

Supply chains are “sticky” and take a long time to build, said Roach, adding that it is the existence of this “real stickiness” that has made it impossible to alter supply chains arbitrarily or quickly.

“It’s not like just flipping a switch that you can decide to move your sourcing to this country or that country,” he said.

To Roach, changing supply chains is simply not the remedy for the current economic hardship, since the real problem is the failure in “building enough slacks into the supply chains,” which is long overdue. Slacks, he added, are rooms to absorb different types of pressure, be it health-related, economic or political.

“I think in the future we probably want to think more about building some slack into our supply chain if we’re prepared to stick (the shocks) out,” he said.

“W-Shaped Trajectory”

The coronavirus pandemic has hit the global economy so hard that the world is heading toward a recession not seen since the Great Depression in the 1930s.

The International Monetary Fund (IMF)’s latest forecast is for global GDP to shrink by 3 percent in 2020, with only China and India still predicted to gain positive growth.

Roach considered the IMF estimates to be “reasonably accurate” or “as good as any assessment you can get,” adding, however, the risk is that the actual number could be worse.

He said the IMF based its prediction on the premise that an immediate improvement in China will expand to other major economies in the latter half of this year.

“But to the extent that economies are better able to normalize activity on the supply side… (they) have more difficulty in normalizing activity on the demand side,” Roach said. “So I think the rebound is going to be very uneven at best.”

A fairly rapid rebound on the supply side coupled with a much more sluggish resumption on the demand side is an unfolding reality not only in China, but around the globe as well, said Roach, who foresees a choppy, w-shaped trajectory of global economic recovery in the post-pandemic era.

“You do get some improvement fairly quickly, but it doesn’t stick because of the vulnerability on the demand side of the equation,” said Roach.

Calling for vigilance against what he referred to as an “asymmetrical period” ahead, Roach nonetheless expressed his long-held optimism in the Chinese economy, saying the country “for over a dozen years has always been strategically prepared to address imbalances and matters of sustainability and instability.” (Xinhua reporter Hu Yousong contributed to the report.)

(The picture at the top is that of Yale University economist Stephen Roach) 

 

Related Posts

India to Supply Fuel to Sri Lanka Only After Advance Payment
Economy

India to Supply Fuel to Sri Lanka Only After Advance Payment

July 6, 2022
Sri Lanka offers special port facilities to Bangladeshi vessels
Bangladesh

Sri Lanka offers special port facilities to Bangladeshi vessels

July 6, 2022
India top lender to Sri Lanka in 2022 so far, displacing China
China

India top lender to Sri Lanka in 2022 so far, displacing China

July 6, 2022
Central banks are increasingly keen on the yuan, according to a new survey. Lucas Schifres/Getty Images
Around South Asia

China’s yuan is making headway a global reserve currency, with 85% of central banks keen on holding the asset

July 6, 2022
Zimbabwe’s central bank said it would start selling gold coins
Around The World

Zimbabwe to introduce gold coins as local currency tumbles

July 6, 2022
Ranil-Wickremesinghe Sri Lankan PM
Around South Asia

I can turn around Sri Lanka’s economy: PM Ranil Wickremesinghe

July 6, 2022
  • Electricity

    Power cut schedule for July 6 in Sri Lanka

    45019 shares
    Share 18023 Tweet 11248
  • Foreign Exchange Rates from Central Bank of Sri Lanka; USD, GBP, EUR, SGD, CAD

    1186 shares
    Share 481 Tweet 294
  • WATCH : Yohani’s first live performance in India

    784 shares
    Share 326 Tweet 191
  • Power interruption schedule released: Check your area power cut time

    736 shares
    Share 314 Tweet 176
  • Leader of Bohra community meets President

    668 shares
    Share 271 Tweet 165
  • About Us
  • Advertisements
  • Privacy Policy
  • Contact

© 2022 All rights reserved.

No Result
View All Result
  • Home
  • Around South Asia
    • Afghanistan
    • Bangladesh
    • Bhutan
    • China
    • India
    • Maldives
    • Myanmar
    • Nepal
    • Pakistan
    • Sri Lanka
  • Around The World
  • Breaking News
  • Business
    • Exchange
  • Climate Change
  • Governance
    • Crime
    • Diplomacy
    • Defense
    • Human Rights
    • Politics
    • Strategic Affairs
  • Lifestyle
    • Books
    • Entertainment
      • Arts
      • Cinema
      • Gaming
      • Music
      • Movie
      • Series
      • TV
    • Health
    • Fashion
    • Food
    • Travel
  • Culture
    • Ethnicity
    • Gender
  • Development news
  • Economy
  • Education
  • Environment
  • Coronavirus
  • History
  • National
  • Offbeat
    • Media
    • Music and arts across South Asia
  • Recommended
    • Headlines
    • Highlights
    • Top Picture
    • Top Story
  • Religion
  • Science
  • Sports
    • Football
    • Cricket
      • LPL
      • IPL
    • Tennis
    • Formula 1
    • NBA
  • Tech
    • Instagram
  • United Nations
  • Weather
  • World
    • Japan
    • Russia
    • United States
  • Videos

© 2022 All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

mersin eskort -

Meritroyalbet

-
Jojobet
- Süperbetin - eskisehir escort -

https://www.vudols.com/

- Sağlık Personeli - istanbul avukat