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Severe Acute Respiratory Syndrome (SARS) broke out in Hong Kong, China, then in the U.S., Canada and other countries.
A pneumonia-like illness, most cases are in China, but fear of the spread of the disease is impacting the business climate in Asia and around the world.
Originally, the Chinese government denied the disease existed, and dragged its feet in public response, even to the point of putting out false news releases denying any problem. Now, what was a small local outbreak of SARS threatens and impedes the global economy.
What China did leaves a discouraging taste in the mouth, and Americans doing business there need to be reminded that this oppressive regime affects all who do business with the Chinese.
President Bush has authorized a quarantine of victims in America, a practice being implemented in Canada as well. Hopefully, a no-nonsense approach in treating the 80 cases of SARS reported in the U.S. should halt the spread of the contagion here.
Of 2,300 cases worldwide, 80 have died, creating an international fear not seen in recent memory. Show rooms in major Chinese cities are empty of customers, real estate sales are slowing and business meetings are curtailed or being cancelled.
In Hong Kong, business has been affected, with the most popular business travel spots empty of traffic. Business people are canceling global trips out of fear; even airline attendants are wearing masks.
Morgan Stanley has revised downward the current economic growth of Asia by 10%, as a result of the feared epidemic.
The consequences could have been better minimized if the Chinese government had been open about the sickness at the onset of SARS; but then openness is not ordinarily a trait of the Chinese government.
Now fear of it has spread via the media to every place else. Warnings could have been issued and precautions better taken if the Chinese had been forthright. It makes you wonder: how many are sick or have died as a result their negligence?
Steve Marr is the former CEO of the fourth largest import-export firm in the U.S., a company which facilitated international trade for many of the largest companies in America. Currently, Steve consults with businesses and ministries utilizing ancient Biblical principles for success in today’s marketplace. Contact Steve at [email protected].
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