The Wuhan Coronavirus Affects Global Trade
The Wuhan coronavirus (2019-nCoV) has now claimed over 1,000 lives in mainland China since its outbreak late last year. Coronavirus is a large family of viruses that affect the respiratory system. The virus exhibits symptoms from mild/moderate colds to lower-respiratory tract illnesses, such as pneumonia and bronchitis.
In addition to the many lives lost, the economic cost has climbed dramatically as China’s businesses are grinding to a halt with 16 cities and over 50 million people on lockdown. To say that global supply chains are disrupted is an understatement.
China’s economy is a very important part of world trade. When their economy slows, we all feel the effects. As one of the world’s most populous nations, not only are their goods and trade integral to the global economy, but the Chinese are top spenders in tourism and consumer goods.
The coronavirus was first detected in Wuhan but is not limited to China. Twenty-four (24) other countries have now reported the virus including the United States. The numbers infected are over 40,000.
Previous experience with respiratory viruses (MERS-CoV and SARS-CoV) suggest that these novel coronaviruses may have been transmitted from animals to humans. Transmission through food is unlikely; no known cases have been linked to food. However, investigations into the source and the transmission are continuing.
Two very prominent Food Events that are scheduled for this region are posting the following Event Notices:
FHA-Food & Beverage will take place from March 31 – April 3, 2020 at Singapore Expo as scheduled. The safety of our customers and our staff is always our top priority. We encourage everyone to stay vigilant, monitor the news, and do not hesitate to contact us at enquiry@foodnhotelasia.com should you have any questions regarding your upcoming visit to Singapore for FHA-Food & Beverage.
FIC-Food Ingredients China reports: …In response to and to cooperate with the Chinese government’s work on the prevention and control of the current pneumonia epidemic of new coronavirus and in order to protect the health and safety of our exhibitors and visitors, we are sorry to announce that FIC 2020, scheduled to be held Mar 17-19, 2020, will be postponed to a later date.
Good hygiene and sanitation are important ways we can minimize our risk and avoid further spreading of this novel coronavirus. As your partner in food trade, Interra International keeps tabs on the pulse of global trade and supply chain, providing you the best recommendations for your food sales and purchases. Visit our website or call our professional staff today for more information on becoming global food trade partner.
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