Markets worldwide were breathing collective sighs of relief this week amid news that First Citizen’s Bank had acquired Silicon Valley Bank (SVB) after more than two weeks of uncertainty and financial distress that has infected Europe and rattled Asia.
Indonesia confirmed its first Covid-19 case on March 2 and now has the highest fatality toll from the disease in Southeast Asia – and second only to China in Asia – meaning the country now faces its biggest political and economic challenge since the 1997 Asian Financial Crisis.
Tensions continue to simmer in the South China Sea as Covid-19, or ‘the coronavirus’ remains headline news. Will the viral outbreak drive the region closer together or farther apart? Either way, it’s possible that Vietnam stands the most to gain.
The coronavirus is not yet a pandemic, but China is so key to the global economy that a Chinese “local epidemic event” is global in its ramifications.
A novel coronavirus is swiftly emerging as a global health risk that will have significant economic, social and political repercussions. The 2019-nCoV, or the Wuhan coronavirus, undoubtedly has access to every corner of the planet – and it is unfolding in a new age of information that will heighten the fear factor.
Taiwan’s advantages as a place to do business are manifold: it’s strategically located within easy reach of China, Japan, South Korea, Hong Kong, Thailand, Vietnam, Cambodia and Malaysia. It has a massive industrial base – Taiwan is the world’s fourth largest electronics producer – with significant research and development (R&D) supported by public spending. It also has a highly educated and skilled workforce.