Page 44 - 2021 White Paper
P. 44
1 White Paper on the Business Environment in China
Afghanistan are the most pessimistic: the share shows that medium- to long-term measures
of firms in those countries anticipating extreme are playing an increasingly important role in the
losses in profits and jobs lie above the regional Covid-19 policy mix, with the aim of reorientation
average. A large number of firms in Cambodia and of businesses to better prepare them for the ‘new
Pakistan also expect record-high layoffs, although normal’ in the post-Covid world. The underlying
they are less pessimistic in terms of profits. Firms rationale is that recovery from this shock will not
in Viet Nam, Malaysia and Thailand tend to be allow for a return to pre-crisis business as usual
more optimistic in general. The share of firms (Bekmirzaev, Looking).
that expected a sharp decline of both profits and
jobs is lower in those countries than the regional Vaccines
average. The pandemic’s short-term economic
impacts on industrial production tend to reflect the Even before coronavirus broke out in 2019,
stringency of governments’ containment policies. pharmaceutical companies were working on
Countries that introduced stricter containment designs for vaccines they could quickly adapt
measures also experienced sharper drops in to a pandemic strain of virus. Their work paid
industrial activity. Results at the firm level support off in some of the new Covid-19 vaccines being
this conclusion too. The share of firms anticipating tested and prepared for rollout has illustrated.
massive layoffs rose with the level of stringency International collaboration was vital to quickly
of the country’s containment policies. Nine Asian producing a Covid-19 vaccine to save lives
countries can be grouped according to the relative worldwide. Since the outbreak of the novel
stringency of their containment measures and the coronavirus, multiple groups of researchers
expected impact on jobs compared to regional around the world have been working hard to find
averages. It is assumed that countries that have the cure or treatment as early as possible. Some
adopted very stringent measures (e.g. Bangladesh, were more successful than others. Every region
Mongolia and Afghanistan) experienced massive needed the vaccine. Some countries tried to make
job cuts, while employment loss in countries with their own while others cooperated and negotiated
less stringent measures in place is expected to for their supply.
be low (e.g. Malaysia and Viet Nam). Interestingly,
some countries have implemented very stringent Dina Ben-Yehuda, dean of the medicine
containment measures but only registered a school at Hebrew University of Jerusalem, said
low impact on jobs (e.g. Thailand and to a lesser one country could hardly achieve success single-
extent Pakistan), while countries that adopted handedly in the vaccine development. "We need
less stringent policies recorded high job losses international collaboration to save the world. And
(e.g. Indonesia and Cambodia). This indicates that I hope that nobody will forget it," she stressed.
containment policies may explain part of the story, Ben-Yehuda praised China for transparency
but certainly to do not tell the entire story. Other in sharing its research findings regarding the
factors clearly play a role in the heterogeneous coronavirus that caused the Covid-19 pandemic.
economic impact the pandemic is having on "The fact that Chinese physicians and scientists
manufacturing firms across countries. To weather felt a responsibility to publish everything, even
the economic downturn caused by Covid-19, the bad results, helped many people around the
manufacturing firms around the globe needed world and saved lives," said Ben-Yehuda. China
government financial assistance and support. shared the initial information about the virus DNA
Many governments have already implemented with all other countries so that every one of them
a wide range of policies, including exchange rate could work on vaccines and treatments. This kind
adjustments and balance of payment measures, as of collaboration should continue for the benefit of
well as monetary and fiscal policies. A UNIDO survey all humankind, according to the professor. Oren
of policymakers in 20 African countries found that Zimhony MD, head of the infectious diseases unit
a wide range of policies has been implemented in at Kaplan Medical Center, said the international
different countries. Tax deregulation and deferral collaboration now on creating a vaccine is
as well as debt payment relief measures are among stronger than ever. There are approximately eight
the most frequently mentioned policies. Evidence
44
Afghanistan are the most pessimistic: the share shows that medium- to long-term measures
of firms in those countries anticipating extreme are playing an increasingly important role in the
losses in profits and jobs lie above the regional Covid-19 policy mix, with the aim of reorientation
average. A large number of firms in Cambodia and of businesses to better prepare them for the ‘new
Pakistan also expect record-high layoffs, although normal’ in the post-Covid world. The underlying
they are less pessimistic in terms of profits. Firms rationale is that recovery from this shock will not
in Viet Nam, Malaysia and Thailand tend to be allow for a return to pre-crisis business as usual
more optimistic in general. The share of firms (Bekmirzaev, Looking).
that expected a sharp decline of both profits and
jobs is lower in those countries than the regional Vaccines
average. The pandemic’s short-term economic
impacts on industrial production tend to reflect the Even before coronavirus broke out in 2019,
stringency of governments’ containment policies. pharmaceutical companies were working on
Countries that introduced stricter containment designs for vaccines they could quickly adapt
measures also experienced sharper drops in to a pandemic strain of virus. Their work paid
industrial activity. Results at the firm level support off in some of the new Covid-19 vaccines being
this conclusion too. The share of firms anticipating tested and prepared for rollout has illustrated.
massive layoffs rose with the level of stringency International collaboration was vital to quickly
of the country’s containment policies. Nine Asian producing a Covid-19 vaccine to save lives
countries can be grouped according to the relative worldwide. Since the outbreak of the novel
stringency of their containment measures and the coronavirus, multiple groups of researchers
expected impact on jobs compared to regional around the world have been working hard to find
averages. It is assumed that countries that have the cure or treatment as early as possible. Some
adopted very stringent measures (e.g. Bangladesh, were more successful than others. Every region
Mongolia and Afghanistan) experienced massive needed the vaccine. Some countries tried to make
job cuts, while employment loss in countries with their own while others cooperated and negotiated
less stringent measures in place is expected to for their supply.
be low (e.g. Malaysia and Viet Nam). Interestingly,
some countries have implemented very stringent Dina Ben-Yehuda, dean of the medicine
containment measures but only registered a school at Hebrew University of Jerusalem, said
low impact on jobs (e.g. Thailand and to a lesser one country could hardly achieve success single-
extent Pakistan), while countries that adopted handedly in the vaccine development. "We need
less stringent policies recorded high job losses international collaboration to save the world. And
(e.g. Indonesia and Cambodia). This indicates that I hope that nobody will forget it," she stressed.
containment policies may explain part of the story, Ben-Yehuda praised China for transparency
but certainly to do not tell the entire story. Other in sharing its research findings regarding the
factors clearly play a role in the heterogeneous coronavirus that caused the Covid-19 pandemic.
economic impact the pandemic is having on "The fact that Chinese physicians and scientists
manufacturing firms across countries. To weather felt a responsibility to publish everything, even
the economic downturn caused by Covid-19, the bad results, helped many people around the
manufacturing firms around the globe needed world and saved lives," said Ben-Yehuda. China
government financial assistance and support. shared the initial information about the virus DNA
Many governments have already implemented with all other countries so that every one of them
a wide range of policies, including exchange rate could work on vaccines and treatments. This kind
adjustments and balance of payment measures, as of collaboration should continue for the benefit of
well as monetary and fiscal policies. A UNIDO survey all humankind, according to the professor. Oren
of policymakers in 20 African countries found that Zimhony MD, head of the infectious diseases unit
a wide range of policies has been implemented in at Kaplan Medical Center, said the international
different countries. Tax deregulation and deferral collaboration now on creating a vaccine is
as well as debt payment relief measures are among stronger than ever. There are approximately eight
the most frequently mentioned policies. Evidence
44
