Economy
Info
There are no articles in this category. If subcategories display on this page, they may have articles.
We have 384 guests and no members online
I first visited China in November 1986. I was representing the New South Wales Government on a multinational mission to our Sister State Guangdong. My photo taken for the trip is still in the State archive [click here]. The theme was regional and small business development. The group heard presentations from Chinese bureaucrats and visited a number of factories in rural and industrial areas in Southern China. It was clear then that China was developing at a very fast rate economically.
In my paper Love in the time of Coronavirus I suggested that an option for managing Covid-19 was to sequester the vulnerable in isolation and allow the remainder of the population to achieve 'Natural Herd Immunity'.
Both the UK and Sweden announced that this was the strategy they preferred although the UK was soon equivocal.
The other option I suggested was isolation of every case with comprehensive contact tracing and testing; supported by closed borders to all but essential travellers and strict quarantine.
New Zealand; South Korea; Taiwan; Vietnam and, with reservations, Australia opted for this course - along with several other countries, including China - accepting the economic and social costs involved in saving tens of thousands of lives as the lesser of two evils.
Yet this is a gamble as these populations will remain totally vulnerable until a vaccine is available and distributed to sufficient people to confer 'Herd Immunity'.
In the event, every country in which the virus has taken hold has been obliged to implement some degree of social distancing to manage the number of deaths and has thus suffered the corresponding economic costs of jobs lost or suspended; rents unpaid; incomes lost; and as yet unquantified psychological injury.
Except of course, that a lot of politicians and bureaucrats have put in a lot of air miles and stayed in some excellent hotels in interesting places around the world like Kyoto, Amsterdam and Cancun.
In the interim technology has come to our aid. Wind turbines, dismissed here, have become larger and much more economic as have PV solar panels. Renewable energy options are discussed in more detail elsewhere on this website.
Climate change has wide ranging implications for the World, ranging from its impacts on agriculture (through drought, floods, water availability, land degradation and carbon credits) mining (by limiting markets for coal and minerals processing) manufacturing and transport (through energy costs) to property damage resulting from storms. The issues are complex, ranging from disputes about the impact of human activities on global warming, to arguments about what should be done and the consequences of the various actions proposed. The following paper explores some of the issues and their potential impact.