As the number of COVID-19 infections spirals out of control, countries around the world have reported major shortages of ventilators, respirators, test kits, surgical masks,
Covid-19 is spreading from China to other regions, causing human suffering and economic disruption.
As trade takes a hit across the globe falling victim to COVID-19, some shipowners have sounded out an SOS asking for some leeway in meeting the IMO 2020 directive.
Questions have been raised about whether the spread of the disease could have been stopped more effectively if China had been more open.
With the onslaught of COVID-19 on China’s production capacity, the economic impacts are felt not only in China, but also around the world.
Some Chinese citizens are comparing their government’s initial delayed response to the outbreak with the Chernobyl disaster.
Impacted by prolonged trade disputes, the global economy suffered its lowest growth in a decade, slipping to 2.3 per cent in 2019.
OECD Survey projects growth above 6% this year and next, and sees continuing convergence with more advanced economies.
Demand for electronic components used in Internet-of-Things devices drove exponential growth in trade.
Over the past six years, total trade between China and other countries participating in the BRI has exceeded US$6 trillion, and China’s investment in these countries has surpassed $80 billion.
China is trying to avoid debt traps for countries that sign up for its signature “Belt and Road” development initiative.
Nepal has been seeking sea access from India as well as China to boost its international trade.
The strongest clusters of emerging markets are in the Arabian Gulf and Southeast Asia, thanks to business-friendly conditions and core strengths.
The mega US$1.4 billion Colombo Port City project is co-developed by the Sri Lankan government and China’s CHEC Port City Colombo under the Belt and Road Initiative.
China remains a committed global partner for peace, economic growth and upholding international order; advocates increasing the economic pie, rather than fighting over how to divide it up.
A China-Singapore land-sea trade corridor has linked 155 ports in 71 countries and regions worldwide.
Chinese regulators have updated part of its domestic emission control area regulations with effect from 1 January 2019 but has not yet placed a full ban on open-loop scrubbers.
The opening of China’s market is likely to increase competitiveness of Chinese businesses and could improve Chinese consumption, which could serve as a future driver of global growth.
The World Bank approved a US$8.2 million grant to support China’s efforts to improve efficiency and reduce carbon emissions from the freight sector.
It will yield environmental benefits by promoting a green mode of transport and producing renewable energy.
Chinese shippers could use Davao as an import-export base and call there along the way to countries further south.
China invests in 42 overseas ports under Belt and Road project.