Tag: COVID-19 pandemic

  • Cash is fuel, profit is king

    Cash is fuel, profit is king

    During the naira crisis in 2023, I could not buy foodstuffs because market women refused to collect transfer payments. The restaurant beside my house also rejected electronic transfer payments. Although in accountancy, there is no difference between cash held in a bank and a fiat currency, as I lay in bed with an empty stomach that night, I admitted that cash in hand is king in times of uncertainty.

    The World Bank 2021/2022 data revealed that Nigeria is a low-cash economy (when compared with other countries) in terms of physical cash in circulation. According to data from the Nigeria Inter-Bank Settlement System, out of Nigeria’s adult population of 160 million, 99.8 million do not have bank accounts as of January 10, 2024. There is a significant portion of the unbanked, underbanked and the informal sector that primarily relies on physical cash for their financial transactions. Culturally, Nigerians prefer physical cash to money transfers and gift-giving. It is a sign of goodwill and trust.

    Nigeria has had a history of bank fraud. Nigerian banks lost N2.09bn to fraud in Q4 2023, according to a report from the Financial Institutions Training Centre. The report also revealed a total of 12,405 fraud cases. Mobile fraud swallowed N356.57m, Automated Teller Machine fraud totalled N40.47m, POS fraud rose by 95.01 per cent surge, and web fraud increased by 50.49 per cent. These frauds have reduced public confidence in the banking system and resulted in Nigerians withdrawing their deposits and keeping their money in physical cash.

    The CBN data showed that Nigeria’s currency in circulation in March 2024 was N3.87tn and the currency outside banks was N3.63tn. Many Nigerians are hoarding physical cash while others have become reluctant to deposit their cash in banks. In almost every club and owanbe in Nigeria today, money exchangers are usually present with mint notes to trade and make a profit. In some businesses, whoever comes in with cash in hand to buy is often given discounts, free shipping or extra products. In Nigeria, employee wages are mostly paid in cash.

    In business, cash is valuable because it allows businesses to survive economic downturns. Except there is a coup and the value of money is reduced, cash is a simpler method of dealing with retail sales. In Nigeria, fiat currency is superior to cash reserves held digitally with a bank. Many companies still prefer cash payment to any other form of payment.

    Statistics of payment method reported by Jumia in 2017 showed that 67 per cent of Nigerians prefer to pay by cash on delivery. Cash payment reduces the paperwork and time needed to visit the bank. It allows for the immediate use of the cash and avoidance of taxes, and bank charges that accompany other forms of payment in Nigeria. Cash payment is more reliable. It is easier and faster to spot a fake currency than a fake alert in Nigeria.

    The more easily available the cash is, the easier a business will be to pay its operating expenses, even if revenues are low. Without an adequate amount of cash, you may lose potential business opportunities. For example, during the COVID-19 pandemic and the recent japa wave, there were numerous distress sales. Many assets were sold for very low prices. Only those who have cash can maximise these opportunities.

    In the field of investment, the time value of money states that a naira today is worth more than a naira tomorrow. As you invest in stocks, mutual funds, real estate and cryptocurrency, it is smart to have a portion of your portfolio in liquid assets or cash savings in your bank. Although cash is no longer considered entirely risk-free due to the impact of inflation, cash can help to lower your portfolio risk.

    You may have a net worth in multimillions, if you do not have cash, you may be financially stranded and beggarly. Cash is king in not only saving you from late fees and interest payments but also in paying your bills faster and maintaining a high credit score. Events will not always go as exactly as you budgeted in your business plan. Hence, businesses need cash to meet unplanned emergencies such as legal issues, natural disasters, system crashes, prolonged power outages, and medical emergencies.

    Only 36 per cent of Nigerians have emergency cash that can last at least 90 days. Financial experts recommend that households should have at least three to six months of living expenses set aside in an emergency fund. Individuals with good health and stable employment may save less cash in their emergency fund while people with an unpredictable income like freelancers should save more cash in their emergency fund. Personal preference and peace of mind also determine how much you may want to save in your emergency fund. As the cost of living and basic items increase, the money you have previously saved in your emergency fund should increase likewise. Your emergency funds may be saved to earn some interest.

    Cash is not the same as profit. Cash is needed every day, while profits may not be recorded every day. Profit is the ability to offer your product or service at a price that brings sufficient gain to pay your expenses and keep you in business. When you overestimate profit and underestimate cash, you are digging the grave of your business. Without cash, profits are meaningless.

    Although in the long term, cash flow and profit are expected to roughly even out, cash is more important than profit, in the short term. In the long term, profit is king. An unprofitable business with cash will thrive longer than a profitable business without cash. Bills are paid every day against cash, not net income. According to the CB Insights report, 29 per cent of startups that fail are still profitable on paper, but just ran out of cash. Indeed, revenue is vanity, profit is sanity but cash is reality.

    Surprisingly, too much idle cash is one of the reasons businesses fail. It is important to strike the balance because keeping too much cash idle will make your cash lose value due to rising inflation and you will continuously forfeit potential opportunity to earn higher returns if the cash was invested. If you are too conservative, you will miss out on some risks in new opportunities. In business, cash is the fuel. Fuel is not everything but without fuel, you will be stranded, no matter the worth and brand of your car.

  • COVID-19 pandemic negative impact on Nigeria economy not harsh – Tinubu

    COVID-19 pandemic negative impact on Nigeria economy not harsh – Tinubu


    …Reason for rising cost of governance in Nigeria – Gov Lalong

     By Gabriel Udeh, Kaduna 

    A Chieftain and leader of the All Progressive Congress (APC) Asiwaju Bola Ahmed Tinubu has commended President Muhammadu Buhari for carefully steering the country through the pandemic and ensured that the negatives impact of the pandemic on Nigerians and economy has not been so harsh as expected.

    He however stated that the economy’s relapse into recession has ended but Nigerians must admitted that the economy remains weak with too much unemployment and resources left idle.

    Tinubu who made the remarks in a speech as Chairman of the 2021Sardauna annual memorial lectures held in Arewa house Kaduna, recalled that COVID-19 pandemic came admits local challenges with it’s debilitating impact on the global and domestic economies, including Nigeria.

    On the topics of the lectures: Reduction of the cost of Governance for inclusive growth and youth development in northern Nigeria in a post COVID-19 era”, Tinubu conceded, describing it as more than timely, given the spate of Security challenges now Primary causes of disrepair and frustration among Nigerians.

    He said that frustration and despair were in the large part  caused by Chronic poverty and the breakdown in social institutions wrought by such long-standing suffering of old and young. 

    He also said that cost governance is always a key factor in socio economic development of any Nation, it is however also one side of an important coin.

    “We must not look at the vost alone. We must weigh the cost against the benefits derived therefrom”, he said.

    Tinubu also state that “For  example, one can pay a high cost on a productive enterprise but reap a higher benefit. Such would be considered good investment. “However, one can pay a low
    cost but reap no benefit at all because the endeavour was inherently unproductive. 

    “This would be a waste. Thus, we must be careful in what we say and truly mean when we talk of the costs of governance.
    “The development of any populous nation has always been dependent on the ability of government to allocate sufficient funds to projects and programs that create and encourage enduring growth and employment.
    “We must reject that mode of thinking that assumes government expenditure is inherently unproductive as well as harmful to the overall economy.

    “It is not the fact that government expenditure is intrinsically wrong any more than one can say all private sector activity is economically”, he said.
     Also in a lecture presented by Governor of Plateau State and Chairman northern States Governors forum Mr Simon Lalong, the governor said it’s expedient to discuss reasons for rising cost of governance in Nigeria particularly northern Nigeria 

    He said some of the underlying factors of the cost of governance in Nigeria include insecurity, insurgency, huge bills and wages, corruption, government support for political parties and huge overhead and personnel cost  among others.

    Governor Lalong who is also a guest lecturer went through the history of Nigeria system of governance since independence and it’s implication on the cost of governance.

  • China continues to contribute to global economic recovery from COVID-19 pandemic

    By Yan Yu, People’s Daily Overseas Edition

    Chinese President Xi Jinping attended the World Economic Forum (WEF) Virtual Event of the Davos Agenda via video link and delivered a special address entitled “Let the Torch of Multilateralism Light up Humanity’s Way Forward”on Jan. 25.

    “Yet we remain convinced that winter cannot stop the arrival of spring and darkness can never shroud the light of dawn. There is no doubt that humanity will prevail over the virus and emerge even stronger from this disaster,” he said.

    His remarks have infused vitality into the world that is haunted by the COVID-19 pandemic.

    In recent years, whenever global development encounters headwinds or cold currents, China is always there to contribute its wisdom and strength to helping the world move forward.

    The country stayed committed to its original aspirationand took on its responsibilitiesin the eventful year of 2020, serving as a driver of international anti-epidemic cooperation as well as a locomotive of the global economic recovery.

    In the face of the raging COVID-19, China has done its best to provide assistance for other countries and facilitate solidarity and international cooperation for the global fight against the epidemic while ensuring strict implementation of epidemic prevention and control measures on its own land.

    Itreleased the genome sequence of the novel coronavirusand other key informationat the earliest possible time, and made a cash donation of $50 million to the World Health Organization (WHO).

    The country provided assistance to over 150 countries and 13 international organizations, sent 36 medical expert teams to countries in need, and stayed strongly supportive and actively engaged in international cooperation on COVID-19 vaccines.

    Besides, China has provided countries around the world with over 200 billion face masks, 2 billion protective suits and 800 million testing kits.

    By working in solidarity with other countries amid the pandemic, the country has put into action its proposal and initiative of building a global community of health for all.

    As it endeavored to bring its own economic development back on track after the outbreak of the pandemic, China has remained steadfast in facilitating global economic recovery by promoting joint response to the pandemic.

    Thanks to its various measures rolled out for the resumption of work and production amid the pandemic, the country emerged as the world’s only major economy to achieve positive economic growth and positive growth in foreign trade in goods last year, whenits GDP exceeded 100 trillion yuan (about $15.5 trillion), and its total value of foreign trade and that of exportsboth hit a record high.These achievements have greatly boosted confidence in global economic recovery.

    The year 2020 has also witnessed the continuous expansion of China’s “circle of friends” for free trade and the country’s consistent support for global multilateral trading system. Last year,the countrysigned the Regional Comprehensive Economic Partnership (RCEP) agreement with relevant parties, andcompleted investment agreement negotiations with the European Union (EU) as scheduled.

    While speeding up economic development at home, China came up with the idea ofestablishinga new development pattern whereby domestic and foreign markets can boost each other, with the domestic market as the mainstay, trying to share its fruits of development with other countries and contribute to the steady growth ofthe world economy.

    The countryhosted a series of important international trade events in 2020, including the 2020 China International Fair for Trade in Services, the 128th China Import and Export Fair, and the 3rd China International Import Expo, openingits door wider to the rest of the world.

    China will continue to take an active part in international cooperation on COVID-19, implement a win-win strategy of opening-up, promote sustainable development, advance science, technology and innovation, and promote a new type of international relations, Xi stressed in his speech.These remarks not only represent China’s strategies for dealing with global challenges, but also the country’s promise and determination to continue shouldering its responsibilities as a major country.

    “There is only one Earth and one shared future for humanity,” Xi said.

    It’s believed that China will continue to make greater contributions to global efforts to get rid of the shadow of the pandemic and achieve economic recovery, and join hands with the rest of the world to move toward a community with a shared future for mankind.

  • COVID-19: Senate wants FG to provide bailout fund for airline operators

    COVID-19: Senate wants FG to provide bailout fund for airline operators

    The Senate on Monday urged the Federal Government to provide substantial bailout fund to airline operators in the country to revamp the aviation sector in view of the effect of COVID-19 pandemic.

    The Chairman of Senate Committee on Aviation, Sen. Smart Adeyemi (APC – Kogi West) made the call in Abuja at a public hearing for a repeal of six executive bills for the aviation agencies.

    The bills were designed to amend the enabling act establishing the aviation agencies for optimal performance in line with global best practices in aviation sector.

    Adeyemi said there was an urgent need to support the airline operators in the country given the effect of COVID-19 on the sector.

    He noted that the aviation industry was the fastest-growing sector of the Nigerian economy in spite the setback caused by the COVID -19 pandemic.

    “Let me take this unique opportunity to call on the Federal Government to explore the possibility of providing bailout funds for the airline operators.

    “The outbreak of the COVID -19 is a global and on-going pandemic and countries all over the world are providing bailout funds for airline operators.

    “Certainly, the aviation industry was the most affected by this virus attack and therefore need all the support possible to resuscitate the Industry.

    “ In the absence of this, so many airlines will struggle to stay in business or worst still, be forced to withdraw their services.

    “Bailout funds will mitigate the devastating and also discourage operators from cutting corners as the consequences can only be better imagined.”

    Adeyemi said the essence of the public hearing was to garner input, encourage cross fertilisation of ideas based on experience of technocrats from the aviation industry.

    “We must do this constructively by putting to maximal use, our individual and collective skills and knowledge towards these bills which are fundamental to the development of the aviation industry

    “The repeal and re-enactment of these six executive bills are aimed at enhancing the operational framework and removal of the seeming ambiguities that inhibit the international best practices within the air transport sector.

    “The aviation industry is a dynamic world in itself. Consequently, continuous changes and upgrades must be made to meet safety needs and promote economic growth.

    “ We must, therefore, continue to strive to go beyond expectations if we are to achieve the best aviation solutions possible,” he said.

    He said issues of safety, poor regulatory functions, viability, operational costs and affordability amongst others should be addressed urgently.

    “There must be responsiveness to the needs of the people and accuracy to procedures so as to ensure that the industry is the most effective, secure and safe means of transportation in Nigeria,” he added.

    On his part, the Minister for Aviation, Sen. Hadi Sirika said that the Federal Government has approved the release of Four billion naira for the airline operators to cushion effect of COVID-19 pandemic on their operations.

    He also said additional One billion naira had also been approved for other business operators in the sector.

    According to him, modalities were being worked out to disburse the fund to the operators.

    Sirika said, although the sector was experiencing its share of challenges, efforts were on to further move the sector forward through the implementation of the aviation road map.

    “We are implementing the aviation road map approved by Mr President and we are seeing the result of the road map.

    “Aviation happened to be the second fastest growing sector of the economy in 2018 and in 2019 it became the fastest growing sector in Nigerian economy.

    “These are figures from Federal Ministry of Finance, Budget and National Planning and National Bureau of Statistics (NBS).”

    He also said that the airline operators in the country were not remitting the fund due to his ministry, emphasising that Nigerian Civil Aviation Authority (NCAA) operates on cost of recovery basis.

    Sirika said that government was currently being owed substantial amount of money running into billions of Naira by the airline operators in the country.

    “These are monies that should be remitted to us to enable us to operate and train more inspectors to ensure safety.”

    Contributing, the representative of the Airline Operators of Nigeria (AON), Mr Chinasa Unaegburam, called for a downward review of the five per cent charged airline operators by the Ministry of Aviation.

    She also called for the inclusion of a representative of the airline operators on the board of NCAA.

    Uaegburam said the issue of money owed by airline operators should be a matter that could be resolved by the Federal Government and the airline operators.

  • Chinese products forward global efforts to fight COVID-19 pandemic

    Chinese products forward global efforts to fight COVID-19 pandemic

    Five foreign military airplanes landed in Shanghai on a same day to pick up coronavirus
    prevention supplies; the world’s largest transport aircraft joined the international convoy to
    transport medical supplies from China; passenger flights around the world were dispatched to
    China for medical materials.
    That is just a small part of the “air fleet” recently landing in China and then carrying batches of
    China-produced materials to respective destinations.
    The short supply of medical materials remains an urgent task that needs to be addressed by global
    countries in the sudden outbreak of the COVID-19 pandemic. To cope with the situation, China,
    while ensuring strict implementation of containment measures at home, is doing all it can to
    supply the world with medical materials, offering important “strategic” replenishment for the
    global efforts to fight the pandemic.
    According to incomplete statistics, in March and April, China had exported 27.8 billion pieces of
    masks, 130 million protective suits, 73.41 million COVID-19 test kits, 12.57 million sets of
    infrared thermometers, 49,100 breathing machines, 124,000 patient monitors, 43.63 million pairs
    of protective goggles, and 854 million pairs of surgical gloves.
    “China boasts the largest manufacturing industry on Earth, with a fast-growing capacity to build
    medical devices and a history of making the goods the world needs at record speed,” said a
    Canadian newspaper.
    It’s still remembered that the head of a Suzhou-based company worked day and night and slept
    only two hours per day just to complete the order of 200 sets of disinfecting devices placed from
    Wuhan, as his employees were not able to return to work because of the traffic restrictions
    implemented to curb the spread of the virus during the epidemic. The man said the work was tiring
    but worthy : it can protect people and save their lives.
    Life comes above everything. That is a simple value of the Chinese, and also the positive energy
    carried in the Chinese products. To fight the virus and race against death, China has overcome
    difficulties and made all-out efforts to promote work resumption of related enterprises in places
    where condition permitted. It also mobilized enterprises to engage in cross-industrial production.
    Carmakers, smart phone manufacturers, garment factories and even solar equipment producers
    shifted their production to masks.
    A WTO report indicated that 80 countries have prohibited or limited the exportation of medical
    supplies such as masks and gloves since the outbreak. However, such ban has never been
    implemented in China, even when the country was at the hardest time fighting the disease.
    Since April, the export of China’s anti-pandemic supplies has shown a conspicuous growing trend,
    with a daily volume of around 1 billion yuan ($140.1 million) earlier this month to the current 3
    billion yuan. Behind the growing trend is the Chinese people’s profound understanding of a shared
    future for mankind, as well as the responsibility of Chinese enterprises in the global war against
    the virus. Many Chinese enterprises noted that they would produce what’s needed in the
    pandemic.
    No hesitation is allowed in the urgent task of fighting the pandemic. After assisting Wuhan in
    February, China’s jumbo cargo aircraft Y-20 once again headed up to the sky for its first-ever
    overseas mission – sending medical supplies to Pakistan. Sending the badly-needed materials to
    the place in dire need demonstrated China's resolution and concrete action to assist the global
    efforts fighting the pandemic.
    Besides, China is also doing its best to make purchase channels of anti-pandemic materials
    unimpeded. The Chinese government encouraged airline companies to transport cargos with

    passenger flights, increased the number of trips of the China-Europe freight service, and opened
    international seaways to ensure supplies of medical materials. Multiple cities have launched green
    channel for the transportation of medical supplies, striving to minimize the time for customs
    clearance.
    At the critical moment of the global anti-pandemic war, medical supplies produced in China are
    being sent to foreign destinations everyday at the fastest speed. So far, these supplies have been
    exported to 194 countries and regions, offering huge support and strong guarantee for the global
    community to fight the disease.
    Even the slightest mistake can not be tolerated in the pandemic where people’s lives are at stake.
    China is doing all it can do to ensure the quality of products with higher standards and stricter
    inspection. The so-called quality problems of Chinese anti-pandemic materials hyped by certain
    Westerners were caused by the differences between Chinese and foreign standards, between their
    habits, and even by misoperation.
    Even so, China’s Ministry of Commerce, General Administration of Customs, State
    Administration for Market Regulation and National Medical Products Administration have twice
    rolled out policies in a month to enhance quality supervision on production, circulation and export
    of medical and non-medical anti-pandemic materials, to better ensure that Chinese products
    contribute to global efforts with high quality and in a safer and more effective manner. It indicated
    the high importance attached by these Chinese departments to people’s lives.
    The global war against the pandemic tests the capability of both scientific research and material
    supply. In this war, “made in China” products are increasing the world’s reserve of medical
    supplies at a high efficiency, sparing no effort to secure a victory over the major infectious disease.

  • China gives satisfactory response to COVID-19 pandemic

    China gives satisfactory response to COVID-19 pandemic

    People’s Daily
    China has made great strategic achievements in prevention and control of COVID-19
    while the disease continues to rage around the globe.
    The pandemic is a rare global crisis and a common challenge confronting mankind.
    China, as the first country in the world to report the disease to the international
    community and to fight the pandemic, has mobilized all the people and resources in
    the country and made huge sacrifices to contain the disease.
    It is one of the first countries in the world to bring the situation at home under control,
    building a defense line for the region and benefiting global efforts to prevent and
    control the disease with valuable experience.
    Things will never be difficult till they are done. Now, more and more people have
    come to realize how crafty and dangerous the virus can be. However, three months
    ago, no one had probably expected the disease to sweep across the world in such a
    violent way.
    To cope with such a sudden attack and menacing crisis, China had faced unimaginable
    risks and difficulties, including to prevent and control a virus that it hadn’t even had a
    clear understanding of, to curb the spread of the virus during the travel rush of the
    Chinese New Year, to leave no patient unattended, and to identify effective treatment
    methods and medicines.
    Some called China’s battle against COVID-19 a miracle in the history of mankind’s
    fighting against infectious diseases, saying that China has taken a closed-book exam
    before other countries in the world and managed to contain the rampant virus when
    less than 0.006 percent of its people were infected.
    Such an “answer sheet” of China is hard-won and heart-touching. It has recorded the
    painstaking efforts of the country.
    Since the initial stage of the pandemic, Chinese President Xi Jinping has referred to
    the crisis as a big test for the Chinese nation, and guided relevant efforts and deployed
    resources for the battle against the pandemic in person.
    On the first day of the Chinese Lunar New Year, Xi chaired a meeting of the Standing
    Committee of the Political Bureau of the Communist Party of China (CPC) Central
    Committee to facilitate further research, deployment, and mobilization for prevention
    and control of COVID-19, particularly treatment of patients.
    On Jan. 23, two days before the meeting, the epidemic prevention and control
    headquarters of Wuhan, capital of central China’s Hubei Province and also the
    previous epicenter of the COVID-19 epidemic, shut down the city’s outbound
    channels at airports and railway stations and put the whole city under lockdown.
    On Jan. 22, three medical teams from the Chinese People’s Liberation Army were

    dispatched to Wuhan to aid the city in its fight against COVID-19.
    In China’s nationwide efforts to fight the epidemic, the whole society has shared the
    consensus that early identification, early reporting, early quarantine, and early
    treatment is the most effective way to curb the spread of the disease.
    The country has treated COVID-19 patients in designated hospitals, dispatched
    leading medical experts to the front line of the battle, and concentrated resources and
    strengths on treating patients and saving lives.
    A total of 42,000 medical staff were sent from various parts of the country to Hubei
    Province to help with COVID-19 fight.
    To relieve pressure on hospitals in Wuhan, China built two makeshift hospitals, the
    Huoshenshan Hospital and Leishenshan Hospital, to treat COVID-19 patients in the
    city. Both of the two hospitals were built in ten days.
    “In face of this unknown virus, China has taken the most courageous, flexible and
    aggressive control measures,” said a report of the World Health Organization (WHO).
    China’s epidemic prevention and control measures have successfully broken the virus’
    chains of transmission and prevented hundreds of thousands of people from being
    infected, indicated a research report published on Science Magazine.
    The “answer sheet” of China has witnessed the steadfastness and perseverance of
    Chinese people.
    Like other countries suffering from COVID-19, China is also a victim of the
    pandemic, pointed out a commentary of The Straits Times, a well-established English
    newspaper in Singapore.
    While many Chinese people were infected with the virus and lost their lives during
    this unprecedented pandemic, a lot of staff members working on the front line also
    died at their posts.
    In an effort to curb the spread of the disease, China pressed the pause button on its
    economy and society, became the first country in human history to lock down a
    megacity with more than ten million inhabitants, and activated the first-level public
    health emergency response across the country.
    The world owes Wuhan people thanks, read the headline on a cover of a Serbian
    magazine.
    Chinese people have contributed to humanity by sacrificing many aspects of their
    normal lives to prevent the virus from spreading to others, said United Nations (UN)
    Secretary-General Antonio Guterres.
    The “answer sheet” of China has reflected China’s sense of responsibility and
    determination to share weal and woe with the world.

    China has attached great importance to and actively promoted international
    cooperation regarding the global fight against COVID-19 all along.
    The country has been reporting to the WHO information about the epidemic since
    Dec. 31, 2019, one month before the WHO declared that the disease constitutes a
    Public Health Emergency of International Concern.
    In response to some Western politicians’ groundless accusations against China,
    Richard Horton, editor-in-chief of famous medical journal The Lancet, put it clearly
    that the information that came from China at the end of January was “absolutely
    clear” and “we wasted February when we could have acted.”
    At the critical moment of the global fight against the pandemic, China has dispatched
    medical expert teams to those countries in need to help with their efforts to prevent
    and control the disease; medical supplies produced in China have been transported to
    various regions around the world, and China’s updated diagnosis and treatment plan
    for COVID-19 has been widely shared among various countries.
    Virus knows no boundaries or races. Everyone knows that the global battle against
    COVID-19 would not end as long as the disease is not under control in all countries.
    With great sacrifices and contributions to the world during the pandemic, China has
    fully demonstrated its sense of responsibility as a major country, lived up to the
    expectations of the international community, and shown its resolve to jointly
    safeguard global public health security with various countries through practical
    actions to promote openness and cooperation.
    Countries, although miles apart, are under the same sky, and together they stand, they
    share armors.
    The COVID-19 pandemic has dramatically demonstrated the global critical
    significance of “shared future” thinking, said Robert Lawrence Kuhn, chairman of the
    Kuhn Foundation in the U.S. , referring to the vision of building a community with
    shared future for mankind proposed by Xi.
    “‘Shared future’ is an evocative phrase, offering a much-needed new way of thinking
    for the world, conveying a great hope,” said Kuhn. These remarks of Kuhn are
    believed to have represented shared opinions of people of foresight in the world.
    The hope Kuhn mentioned not only come from the perseverance that Chinese people
    have shown in their battle against the pandemic at home, but also the joint efforts of
    various countries to achieve the victory over the crisis in solidarity.

  • China gives satisfactory response to COVID-19 pandemic

    China gives satisfactory response to COVID-19 pandemic

    China has made great strategic achievements in prevention and control of COVID-19
    while the disease continues to rage around the globe.
    The pandemic is a rare global crisis and a common challenge confronting mankind.
    China, as the first country in the world to report the disease to the international
    community and to fight the pandemic, has mobilized all the people and resources in
    the country and made huge sacrifices to contain the disease.
    It is one of the first countries in the world to bring the situation at home under control,
    building a defense line for the region and benefiting global efforts to prevent and
    control the disease with valuable experience.
    Things will never be difficult till they are done. Now, more and more people have
    come to realize how crafty and dangerous the virus can be. However, three months
    ago, no one had probably expected the disease to sweep across the world in such a
    violent way.
    To cope with such a sudden attack and menacing crisis, China had faced unimaginable
    risks and difficulties, including to prevent and control a virus that it hadn’t even had a
    clear understanding of, to curb the spread of the virus during the travel rush of the
    Chinese New Year, to leave no patient unattended, and to identify effective treatment
    methods and medicines.
    Some called China’s battle against COVID-19 a miracle in the history of mankind’s
    fighting against infectious diseases, saying that China has taken a closed-book exam
    before other countries in the world and managed to contain the rampant virus when
    less than 0.006 percent of its people were infected.
    Such an “answer sheet” of China is hard-won and heart-touching. It has recorded the
    painstaking efforts of the country.
    Since the initial stage of the pandemic, Chinese President Xi Jinping has referred to
    the crisis as a big test for the Chinese nation, and guided relevant efforts and deployed
    resources for the battle against the pandemic in person.
    On the first day of the Chinese Lunar New Year, Xi chaired a meeting of the Standing
    Committee of the Political Bureau of the Communist Party of China (CPC) Central
    Committee to facilitate further research, deployment, and mobilization for prevention
    and control of COVID-19, particularly treatment of patients.
    On Jan. 23, two days before the meeting, the epidemic prevention and control
    headquarters of Wuhan, capital of central China’s Hubei Province and also the
    previous epicenter of the COVID-19 epidemic, shut down the city’s outbound
    channels at airports and railway stations and put the whole city under lockdown.
    On Jan. 22, three medical teams from the Chinese People’s Liberation Army were

    dispatched to Wuhan to aid the city in its fight against COVID-19.
    In China’s nationwide efforts to fight the epidemic, the whole society has shared the
    consensus that early identification, early reporting, early quarantine, and early
    treatment is the most effective way to curb the spread of the disease.
    The country has treated COVID-19 patients in designated hospitals, dispatched
    leading medical experts to the front line of the battle, and concentrated resources and
    strengths on treating patients and saving lives.
    A total of 42,000 medical staff were sent from various parts of the country to Hubei
    Province to help with COVID-19 fight.
    To relieve pressure on hospitals in Wuhan, China built two makeshift hospitals, the
    Huoshenshan Hospital and Leishenshan Hospital, to treat COVID-19 patients in the
    city. Both of the two hospitals were built in ten days.
    “In face of this unknown virus, China has taken the most courageous, flexible and
    aggressive control measures,” said a report of the World Health Organization (WHO).
    China’s epidemic prevention and control measures have successfully broken the virus’
    chains of transmission and prevented hundreds of thousands of people from being
    infected, indicated a research report published on Science Magazine.
    The “answer sheet” of China has witnessed the steadfastness and perseverance of
    Chinese people.
    Like other countries suffering from COVID-19, China is also a victim of the
    pandemic, pointed out a commentary of The Straits Times, a well-established English
    newspaper in Singapore.
    While many Chinese people were infected with the virus and lost their lives during
    this unprecedented pandemic, a lot of staff members working on the front line also
    died at their posts.
    In an effort to curb the spread of the disease, China pressed the pause button on its
    economy and society, became the first country in human history to lock down a
    megacity with more than ten million inhabitants, and activated the first-level public
    health emergency response across the country.
    The world owes Wuhan people thanks, read the headline on a cover of a Serbian
    magazine.
    Chinese people have contributed to humanity by sacrificing many aspects of their
    normal lives to prevent the virus from spreading to others, said United Nations (UN)
    Secretary-General Antonio Guterres.
    The “answer sheet” of China has reflected China’s sense of responsibility and
    determination to share weal and woe with the world.

    China has attached great importance to and actively promoted international
    cooperation regarding the global fight against COVID-19 all along.
    The country has been reporting to the WHO information about the epidemic since
    Dec. 31, 2019, one month before the WHO declared that the disease constitutes a
    Public Health Emergency of International Concern.
    In response to some Western politicians’ groundless accusations against China,
    Richard Horton, editor-in-chief of famous medical journal The Lancet, put it clearly
    that the information that came from China at the end of January was “absolutely
    clear” and “we wasted February when we could have acted.”
    At the critical moment of the global fight against the pandemic, China has dispatched
    medical expert teams to those countries in need to help with their efforts to prevent
    and control the disease; medical supplies produced in China have been transported to
    various regions around the world, and China’s updated diagnosis and treatment plan
    for COVID-19 has been widely shared among various countries.
    Virus knows no boundaries or races. Everyone knows that the global battle against
    COVID-19 would not end as long as the disease is not under control in all countries.
    With great sacrifices and contributions to the world during the pandemic, China has
    fully demonstrated its sense of responsibility as a major country, lived up to the
    expectations of the international community, and shown its resolve to jointly
    safeguard global public health security with various countries through practical
    actions to promote openness and cooperation.
    Countries, although miles apart, are under the same sky, and together they stand, they
    share armors.
    The COVID-19 pandemic has dramatically demonstrated the global critical
    significance of “shared future” thinking, said Robert Lawrence Kuhn, chairman of the
    Kuhn Foundation in the U.S. , referring to the vision of building a community with
    shared future for mankind proposed by Xi.
    “‘Shared future’ is an evocative phrase, offering a much-needed new way of thinking
    for the world, conveying a great hope,” said Kuhn. These remarks of Kuhn are
    believed to have represented shared opinions of people of foresight in the world.
    The hope Kuhn mentioned not only come from the perseverance that Chinese people
    have shown in their battle against the pandemic at home, but also the joint efforts of
    various countries to achieve the victory over the crisis in solidarity.

  • China-Ethiopia relations to strengthen after pandemic: ambassador

    China-Ethiopia relations to strengthen after pandemic: ambassador

    Ethiopia’s Ambassador to China said he believed the China-Ethiopia partnership would strengthen after the COVID-19 pandemic, stressing that China-Africa relations have always been based on mutual respect and benefit.

    As for the influence of the Belt and Road Initiative (BRI) projects in the country, Ambassador Teshome Toga Chanaka told the Global Times in an exclusive interview that “social distancing and other measures aimed at protection and control of the virus might affect the timely completion but for sure the projects are working in progress.”
    Ethiopia’s BRI projects include the Addis Ababa-Djibouti Railway, the economic corridor, and the
    development of the industrial park. “Many economic movements and other projects execution will be slowed but we hope that as soon as the situation improves implementation will be enhanced,” said the diplomat. China and Africa have been working together closely in tackling the coronavirus and “the pandemic will strengthen
    China-Africa friendship, solidarity and cooperation in the coming times,” Chanaka said.
    China-Ethiopia cooperation amid pandemic There are roughly 30,000 confirmed COVID-19 cases across the African continent, with Ethiopia reporting over 123, according to public statistics. Experts warned the continent might face an outbreak disaster and humanitarian crises due to the fragile health care systems of several nations.
    The UN and World Health Organization (WHO) warned that COVID-19 is on a rise in Africa and if measures could not be taken to enhance prevention and control, the damage would be severe.
    “As Africa has fragile healthcare facilities, efforts should be made to enhance the continent’s capacity to investigate alerts, treat patients in isolation facilities and improve infection, ensure prevention and control of COVID-19,” the ambassador said.
    Some observers questioned that compared to other developed countries and regions, the relatively
    low confirmed COVID-19 cases might not tell the whole story, as Ethiopia doesn’t have enough
    test kits to conduct mass testing.
    In response, the Ethiopian diplomat told the Global Times that their government is working
    relentlessly to strengthen national efforts to enhance its emergency preparedness and response
    through the establishment of a task force at the national and regional levels, and has prepared
    isolation centers for detection and contact tracing with confirmed cases in and out of Addis Ababa,
    and deployed human resources to manage the isolation centers.
    Chanaka admitted the number of infected people might increase if mass testing is employed.
    The capacity is being built but has not reached to the required level, he said. “We are in need of
    foreign assistance and philanthropic support to procure medical supplies and equipment which
    will be used to fight the spread of the pandemic in our country.”
    According to Chanaka, the Centers for Disease Control and Prevention (CDC) from China and
    Ethiopia are now actively cooperating to build a strong African public health infrastructure by
    sharing information, providing expertise, and expanding resources.

    A team of 12 Chinese medical experts, including specialists in infectious diseases, respiratory and
    critical care, and public health, arrived at Ethiopia’s capital Addis Ababa on April 16 to assist the
    country in its fight against COVID-19.
    Chanaka praised China’s help by sharing its resources and experts.
    Ethiopian public health authorities identified items they are in critical shortage of such as
    ventilators, patient monitors, suction machine, oxygen face masks, test kits, and Personal
    Protective Equipment (PPE).
    Chanaka said the logistics are another challenge as flight services have stopped due to the
    outbreak. Ethiopian officials are working with pertinent Chinese government agencies to assist
    Ethiopia in this regard.
    No discrimination against Africans
    The diplomat noted that the year 2020 marks the Golden Jubilee of the establishment of formal
    diplomatic relations between China and Ethiopia, and they “have over the years forged strong
    partnership at all levels and in all sectors,” which “was further enhanced during the fight against
    COVID-19.”
    “Both believe the victory over COVID-19 and post pandemic equally require global strategy and
    unity,” he added.
    The envoy refuted reports by Western media outlets, claiming that Africans in China have faced
    discrimination because of the virus.
    He said that during the outbreak, there were over 4,000 African students in Wuhan, Central
    China’s Hubei Province and it was the community in Wuhan, the university, and the city
    administrations and volunteers who cared for and supported African students.
    “They were not discriminated because of their origins. There were many Africans who also lived
    in other parts of China as well during the spread of the various and not any sign of discrimination
    was reported,” said the ambassador.
    According to an AFP tally, a video started circulating on social media that purports to show a
    Kenyan couple involved in a fist fight with a Chinese couple in Wuhan, was later confirmed to be
    false. The incident occurred in the Bronx, New York City, in front of an Asian restaurant.
    Chanaka said the recent incident in Guangzhou, South China’s Guangdong Province was an
    unfortunate development, but it is a “localized one, which does not reflect the overall situation of
    Africans in China.”
    Assurances were given by both sides “to take appropriate measures that no such thing targeting
    Africans will happen and also agreed to jointly fight COVID-19,” he added.
    “From what we know about the virus it affects all humanity across the race. We need to fight the
    pandemic together as fellow human beings. We need to act soberly and reasonably… There is no
    need to react emotionally and in panic mood,” said the ambassador.
    The Ethiopian diplomat stated that China-Africa relation has shown progresses in political,
    economic, military, social and cultural aspects since the establishment of the Forum on China-
    Africa Cooperation (FOCAC) and BRI.
    Responding to questions related to his impression on China’s measures in the fight against the
    virus, the envoy told the Global Times that he has personally witnessed the national effort waged
    by China and the national coordination from the central government to the grass-roots level.

    The government, health workers, civilians, media, and other sectors of society have demonstrated
    to the world how to protect and control a national challenge, he noted.
    “China has done its part in an unprecedented way. Its mobilization capability and the people’s
    loyalty to comply with the directives of the government were extraordinary.”
    Chanaka stressed that it is the best lesson for Ethiopia and the rest of the world for them to learn
    from China’s experience and apply the knowledge to their situation.

  • COVID-19 pandemic could recede in June if taken seriously globally: Zhong Nanshan

    COVID-19 pandemic could recede in June if taken seriously globally: Zhong Nanshan

    China’s top COVID-19 expert Zhong Nanshan predicted on Thursday that the global pandemic
    could recede in June, but it depends on each country’s emphasis on virus prevention.
    Normally, the coronavirus is less active in summer, when temperatures are higher, said Zhong at a
    conference.
    He predicted the pandemic could recede by the end of June if countries put more efforts into
    preventing the spread of the virus.
    Many countries should attach great emphasis to virus prevention, like China, and keep the public
    on high alert instead of treating it just like flu, said Zhong, warning that the pandemic will be
    prolonged if countries keep underestimating its power.
    The death rate of COVID-19 overseas is about 3.2 percent, and countries are facing a situation
    similar to that of Wuhan at the early stages of the outbreak, which signals that the virus is failing
    to gain enough attention outside China, he said.
    China needs to play a bigger role in communicating with the global community, including
    providing more timely clinical treatment experience to countries hit by the disease, according to
    Zhong.
    He said China is shifting attention to preventing imported infections. Many of the imported
    infections are asymptomatic, with only symptoms of a normal cold, and this suggests other
    countries are not paying enough attention to the pandemic and that China needs to strengthen its
    monitoring of imported cases, he said.
    “It is impossible to work out an effective cure within two months. However, there are ways to stop
    further deterioration of the situation, on the one hand by enhancing self-control and on the other
    by strengthening communication with other countries. The pandemic cannot be tamed if it gets out
    of control globally,” Zhong said.