Sunday, May 3, 2009
Don't invest in Swine Flu.
The recent swine flu health scare that is sweeping the globe is showing signs of reprocusions in several markets around the world. Almost 20 nations, including China and Russia, have imposed bans on the importation of pigs and pork products from Canada, the US and Mexico says an article by BBC. "The outbreak in Mexico and its rapid spread to other countries could interrupt trade and investment, exacerbating the worldwide recession for an uncertain period," says an analysis from Moody's. Countries with a fair share of amount of tourism and food trade are being and will be hit hard by this virus. Several countries have already put restrictions on importing and exporting food. Scientists have found no evidence in the virus being transmitted through food ingestion. Many people believe these bans could hurt the global markets. But it is urged that the flu not be used as an excuse for declining in trading. Unnecessary trade restrictions will hurt coutries that are effected by their exporting of foods. Egypt has already slaughtered 350,000 pigs as a result of the scare which has left Egypt citizens in rather a "rioty" mood. What makes this virus so worrisome is that the media is portraying it as such. Many people die from the flue each year, we won't really be able to tell how deadly this particular strain is until winter comes around. Countries in the southern hemisphere are already worried as it is winter there. Mexico, a failed state as it is, has had a few "crappy" past few months. From drug battles, to high crime rates such as murder, and now it's citizens are catching the flu. Japan has contained almost 400 people in a hotel as a Mexican citizen who is traveling to Japan has been found to have the flu. As long as people play it safe, and not have long contact with someone sneezing, wash your hands, we will be ok. Trade restrictions should not be the first action.
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