The Big Picture: Coronavirus & Impact on Economy

The human cost of the coronavirus outbreak is climbing across China and beyond. The economic cost is also mounting. That damage is, for the most part, not due to the virus itself, but due to efforts to prevent it from spreading. There are strict restrictions on moving out of Wuhan, where the outbreak began, a city with a population of 11 million. The lockdown, also now extended to other parts of Hubei province, prevents business-related travel as well as the movement of goods and workers. The impact is not confined to China. International retailers have closed operations in China. Several overseas airlines have stopped flights to China and international hotel chains have been offering refunds. And beyond that, there is growing concern about integrated international supply chains. Hyundai, of South Korea, has suspended its car production because of problems with the supply of parts from its operation in China - an early warning sign of possible extensive disruption ahead. On this edition of The Big Picture we will analyse the impact of Coronavirus on the global economy.

Anchor: Frank Rausan Pereira
Producer: Sagheer Ahmad

Guests:
Nitin Desai, Former Chief Economic Adviser, GoI
Jayant Dasgupta, Former Ambassador, WTO
A. K. Bhattacharya, Editorial Director, Business Standard

[Godofschool]

Frank smile makes everyone day 😊😊😊 best in rstv with balanced views, .

[Rahulpriye]

The reason why frank is liked by many is because he always ask the exact questions which we upsc aspirants thought of & wanted to know😊

[jkshar]

On a lighter note Frank looks like bearded priest of Harappa 🙂

[sagaryadav]

Frank's smile makes every debate pleasant.

[funlifefun]

Health of a country=Strength of Economy of the country.

[amitojha]

It's always pleasure to listen Nitin Desai and Mr. Bhattacharya

[ashwin]

Very nice discussn...all of them wer superb. But Mr. Bhattacharya shud try to speak in flow without so many abberations nd pauses.

[shawnmendes]

Mr Bhattacharya stop shattering....🤐🤐🤐

[sentinel]

Once in life opportunity for India to bring assembly line to India. Indian Govt should get its act together and focus on that.🙏

[lovemelodies]

Everyone Preparing for Upsc
( Me UPSC 2021)

[jameshunt]

Not one health expert or someone from Kerala because they know economic costs of nipah virus

[djoys]

it is high risk to depend on China for supplies. It's time to have a strong production base in India.

Adam Smith's invisible hand will work on world trade & no company will wait to sustain long-losses to its production. Multinational companies will learn not to keep all their eggs in China. Traders & Markets will find alternate sources of goods & India has an opportunity here. The US has tariff-imposed 6800 Chinese goods worth $ 250B which include apparel, leather goods, shoes, luggage, TVs, refrigerators, washing machines, electrical goods, auto parts, chemicals, pharmaceuticals, kitchen & table ware (Crockery, Cutlery), stationery, carpets etc. Many of these items can be easily exported by India to the US.
India China trade is largely non complementary. China exports to India the same goods which India also produces but at cheaper rates harming Indian Industry while it imports raw materials like cotton, iron ore & agricultural items like rice, sugar, tea, soybeans from India...all low value items. US India trade is likely to be more complementary & balanced. India can easily replace many Chinese items tariff-imposed by the US. India needs advanced defense equipment, civilian aircraft & advanced medical equipment which US can easily provide balancing the two-way trade without harming Indian industry. India US trade can be very complementary & balanced unlike US-China trade which is non-complementary & one-sided making US vulnerable to Chinese blackmail

[shaunshivam]

There's a need to have a good buffer stock of essential imported goods in order to counter this kind of disruption in supply...
Apart from this... We should focus more on self reliance...
India🇮🇳 can also grab this opportunity to increase its presence in the world economy and especially in ASEAN countries..

[lawyercare]

Is there a global economic shift from China to other potential country when such disaster happened?

[merabharataurbhimahan]

World needs to slow down a bit and use less to live.. Divine signal..

[anjalisaini]

Coronavirushas affect on health and economy in whole world.

[sky_suraj]

Impact of globalisation: endemic can become pandemic. Economic downfall due to endemic can cause economic fluctuation across globe. One sneeze beyond border can increase your mobile cost. so pray for everyone health. Bhawatu sabba mangalam.

[bharatkumar-kvjx]

Desai sir, a request, please don't defame India every time by comparing India with every other country...
China may be great by constructing a hospital in 10 days n here it will take 10 years.

[anonymousnegii]

Every disaster is directly proportional to effect on worlds economy