Cashing in on chaos May 1, 2020 (WiC 493)
“They just say they don’t have material, and when you pay them five times more, or 10 times, then they get material”
Sharvil Patel, managing director of drugmaker Zydus Cadila, tells the Financial Times that Chinese suppliers of raw materials have been price gouging. The Indian company is the largest producer of hydroxychloroquine, an anti-malarial drug that has seen soaring demand since Donald Trump promoted it as a “game-changer” in Covid-19 treatment.
Jaw dropping Apr 24, 2020 (WiC 492)
“The scale and breadth of China’s economic contraction are staggering. There is little prospect of China driving a revival of global growth”
Eswar Prasad, an economics professor at Cornell University and the former head of the International Monetary Fund’s China division, tells the Wall Street Journal that the 6.8% drop in Chinese GDP in the first quarter was shockingly high.
Going up? Apr 17, 2020 (WiC 491)
“These situations create the need to actually get the workforce back and therefore the infrastructure spend will rise. All the indications are that China is going ahead at full speed”
Alister Dormer, head of Hitachi’s rail and mobility businesses, tells the Financial Times that the Japanese conglomerate’s elevator factory in China has resumed production. Hitachi anticipates a wave of infrastructure spending in China as Beijing stimulates the economy after the coronavirus outbreak.
Facing the future together Apr 10, 2020 (WiC 490)
“We plan to ship over one million by the end of this week and over one million per week after that”
Apple CEO Tim Cook announces that the tech firm has designed a new face mask for hospital workers, which is being made both in China and the US. Initial distribution will be in America, with the first Apple masks delivered to a hospital in the Santa Clara Valley last week.