Viw Magazine

Men's Weekly

.

  • Written by Richard Holden, Professor of Economics, UNSW

The health implications of the Wuhan coronavirus (now called “Covid-19”) outbreak are, obviously, deeply concerning.

At the time of writing, it had infected more than 50,000 people and killed more than 1,300. Cities and cruise ships are in lockdown. Major trade shows like the Mobile World Congress have been cancelled. Even the Dalai Lama has indefinitely postponed all public appearances.

It has been widely noted that the crisis is having a large economic effect, not only on China but on countries such as Australia.

Those ripple effects stem from the fact that, compared to the time of the SARS outbreak in 2003, China is both a much larger economy and vastly more interconnected with the rest of the world.

Take Australia’s connections. China is Australia’s largest source for international students, with nearly 190,000 Chinese studying in our tertiary institutions. China is also Australia’s largest source of tourists and biggest trading partner.


Read more: We depend so much more on Chinese travellers now. That makes the impact of this coronavirus novel


Even if other countries don’t have the same level of exposure, the whole world is now radically interconnected. Global supply chains for products from cars to mobile phones run across multiple countries.

The components of an iPhone, for example, come from manufacturers in the United States as well as China, Taiwan, South Korea, Japan, Germany, Italy and the Netherlands.

The tectonic technological forces that have driven globalisation also mean an unprecedented “black swan” health crisis can quickly turn into a full-blown economic crisis.


Read more: How does the Wuhan coronavirus cause severe illness?


Digital technology to the rescue

Against this backdrop, it is striking that the same technological forces behind global interconnectedness are key to coping with the coronavirus crisis.

An example comes from the Alibaba Group – arguably China’s leading e-commerce company. It is using everything from food delivery to cloud computing to help combat the crisis.

One of the first things that happens in a crisis is demand surges for goods and services in limited supply – face masks, for example.

Alibaba has encouraged sellers on its platforms to increase the supply of masks and other in-demand equipment. It has also used its influence to discourage the kind of price-gouging often seen during natural disasters.

On top of that, consider what life is like for about 11 million people in Wuhan, a city where normal life has ground to a halt as people avoid going out. How do they get groceries and other essentials?

A week before Chinese New Year, demand for takeaway food and other services increased 129%, according to Alibaba.

Deploying platforms

It’s worth pausing to reflect on how much worse the quarantine imposed on Wuhan and surrounding areas would be without the technology that makes transport and logistics today so sophisticated.

Keeping medical staff well cared for in Wuhan has also been crucial.

Leveraging Alibaba’s 18 Freshippo techno supermarkets in Wuhan, the group has set up a dedicated food-delivery team to provide free food and safe drinking water to local hospitals, rescue teams, reporters and volunteers. The group’s Amap Taxi operation has organised a volunteer force to provide free transport for all medical staff 24 hours a day. Alibaba’s travel platform “Fliggy” is be used to offer free accommodation to medical staff – a total of more than 10,000 rooms.

Finally, Alibaba’s cloud-computing business Ali Cloud – similar to Amazon Web Services – has helped health authorities track the outbreak and its spread. It has provided unlimited computing capacity to global medical researchers to accelerate the finding of a cure for the virus. It is also collaborating with Zhejiang Province’s Disease Control Centre to develop an artificial intelligence gene-analysis system that could could slash diagnosis time from two hours to half an hour.

At a time when globalisation is being sharply questioned, it is important to remember the upsides as well as the downsides of an interconnected world.


Read more: Fear spreads easily. That's what gives the Wuhan coronavirus economic impact


Yes, radical global interconnectedness makes the world more vulnerable to financial and public health crises. Yet those same forces have also lifted roughly 2 billion people out of extreme poverty in the past 30 years.

Those same technological forces drive the e-commerce platforms, cloud computing and artificial intelligence that help mitigate the effects of these crises.

Richard Holden was an invited speaker at the Luohan Academy Annual Digital Economy Conference in 2019.

Authors: Richard Holden, Professor of Economics, UNSW

Read more https://theconversation.com/vital-signs-a-connected-world-makes-this-coronavirus-scarier-but-also-helps-us-deal-with-it-131662

Sydney Gets Fired Up: Fireball Whisky Launches ‘Motel Fireball Inn’

The number one shot in Australia (and the USA) is turning up the heat!  Fireball Whisky is bringing the party to Sydney with the launch...

Why Headless CMS Is Essential for Global B2B Sales Enablement

B2B selling is more global, digital and complex than ever. B2B buyers want accurate, timely and needs-based information no matter where th...

Top Tips for Successfully Completing Training and Passing Driving Tests

Learning to drive can feel exciting and a little overwhelming at the same time. Whether you’re preparing for your very first driving test ...

Why Location Still Rules in Real Estate

When people talk about real estate, the phrase location, location, location always comes up. It might sound like a cliché, but it’s still...

The Ultimate Guide to Renting: Landlord and Tenant Rights

Renting a property can be a smooth and rewarding experience when both landlords and tenants understand their rights and responsibilities. Cl...

The Pros and Cons of Renting vs. Owning a Home

Deciding between owning and renting a home is a huge financial choice a lot of people have to deal with in their lifetime. While homeownersh...

Innovative Ways to Showcase Your Products and Services Effectively

You don’t have to be in these waters to know that marketing has always been a game of attention. Attention is expensive, even more than go...

How to Choose the Right Real Estate Agent for You

Whether you’re buying or selling a property, having a real estate agent on your side can be a game-changer. They know the ins and outs of ...

Finding True Connection in the Rush of Modern Life

Life in major cities is full of opportunities, yet many residents find themselves feeling disconnected and isolated. Despite being surrounde...

Finding Balance: Fun, Safety, and Connection in Modern Nightlife

Modern nightlife has evolved into more than just dancing and music—it’s a cultural space where people seek entertainment, connection, an...

Essential Skills and Tips for First-Time Volunteers Abroad

So, you have decided to embark on a jubilant adventure of volunteering abroad? Congrats, you are in for a real treat! Not only that, but who...

Essential Considerations When Choosing a Family Home

Finding the right home for your family is one of the biggest and most important decisions you'll ever make. It's about more than just a buil...

Considerations When Renovating or Expanding Your Property

Renovating or expanding your property can be an exciting journey, offering the opportunity to tailor your home or investment to meet evolvin...

Elevating Your Social Life: Experiences Beyond the Ordinary

In a world where so much of our daily routine feels predictable, people are increasingly searching for experiences that add meaning to life...

Essential Gardening Accessories for a More Comfortable Outdoor Lifestyle

Gardening should be fun and relaxing, not a chore. Having the right things with you can make a huge difference. This guide will show you sim...

Best Practices for Managing High-Volume Material Movement in Industrial Settings

If there is one thing that is the backbone of a large industry, that’s undoubtedly the ideal management of material movement. For any high...

8 Best Things to Do Near Ballarat, VIC

Ballarat isn’t just a city with a gold rush past—it’s a hub of adventure, history, nature, and amazing local experiences. Whether youâ...

Different Approach Proves Better Results in Addiction Counselling

Addiction is one of the biggest issues for relationships. It not only puts strain on the one struggling, but the people around them too. E...

5 Timber Decking Mistakes That Could Cost You Thousands

Dreaming of relaxing on your brand-new deck, soaking up the Aussie sunshine? A timber deck can be a fantastic addition to any home, creati...

7 Ways Disability Services Can Transform Lives

Imagine a life where you feel empowered, supported, and truly connected to your community. For individuals living with disabilities, this ...