Covid-19 Short & Long-Term Macroeconomic Lessons [WATCH]
Real-time Business Impact of Coronavirus session [On-Demand]
With the understanding that human health is most important, macroeconomist Freya Beamish joins us to discuss short and long-term lessons being learned about the business impact of coronavirus.
Covid-19 Short & Long-Term Macroeconomic Lessons
The session begins by drawing key similarities and distinctions between the global macroeconomy during the SARS outbreak in comparison to the global macroeconomy at this moment.
Freya specifically touches on the size of the Chinese economy, "that China has increased several times over since 2003 and they don't call it the world's manufacturing hub, the world's factory, for nothing."
Real-time lessons learned for global corporate enterprise
She also discusses China's newer role in generating demand, "whether that's sustainable or not has increased many times as well. So there is for commodities exporters' and for intermediate goods export is and more recently even the household sector has been more important in terms of generating demand growth."
We dive in on re-engineering supply chains and Freya notes, "the reasons for staying within China when it is that uncompetitive are slowly dropping away and this type of a shock might be what tips companies over the edge in taking that kind of a big decision."
Other points of discussion include:
- Myriad metrics which can showcase the state of affairs in China to ensure a true understanding of real-time events.
- The affect of coronavirus on the prospect of a US/China Phase II trade deal
- How China's approach to innovation might not pay off in full
- The fact that China has expanded from solely an export product market to a dynamic market of products and services