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Coronavirus Asia

Local markets in Asia retreat as US President Trump talks up revised trade war

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Local markets in Asia retreat as US President Trump talks up revised trade war | The Thaiger
PHOTO: Hong Kong stock market - China Daily
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Steep losses are the order of the day as local markets follow the lead from a sell off in New York after US President Trump foreshadowed a new round of trade sanctions on China. The US President and his Secretary of State Mike Pompeo have openly accused the Chinese government that the Covid-19 started in a lab in Wuhan, and that those responsible would be held to account.

Yesterday, the Secretary of State ramped up White House administration claims that China mounted efforts to hide the extent of the coronavirus spread, including concealing the severity of the situation, while stockpiling medical supplies.

In the wake of threats of economic retaliation, and their impact on US indices, Asian markets have already suffered steep losses today.

The claims have overshadowed better news indicating a further “levelling of the curve” of infections and deaths from Covid-19 in the US and around the world.

All three main indices on Wall Street tanked between 2.6 – 3.2%, having previously enjoyed their best month in decades in April. Hong Kong led this morning’s selloff, dropping more than 3%, while Seoul, Taipei, Singapore, Manila and Jakarta were all down more than 2%. However, Sydney edged up slightly.

President Trump is threatening to lump new tariffs on China over its handling of the virus outbreak, claiming he had seen evidence linking a Wuhan lab to the contagion. He did not made the contents of the report open to the media or public.

Analysts warned that after a strong rebound in April, fuelled by hopes that the worst of the disease has passed, equities could suffer a tumultuous May as corporate earnings and other indicators reveal the extent of the damage inflicted on the US economy.

Meanwhile the US economy is tanking and millions of Americans have already lost their jobs because of the Covid-19 crisis. Economists also fear another wave of losses on the markets and further pressure on the US dollar following the biggest bailout of the economy in history by the US Federal Reserve.

The threat of another long-winded trade war between the two economic superpowers is sparking further fears whilst the world economy is teetering on a major recession.

Oil prices dropped again after surging last week as top producers began to ease up on production following a deal agreed last month to slash output by 10 million barrels a day.

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Coronavirus Thailand

Despite special tourist visa approval, hoteliers remain skeptical about reopening

The Thaiger & The Nation

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Despite special tourist visa approval, hoteliers remain skeptical about reopening | The Thaiger

As news comes of the cabinet approving a special long-term tourist visa scheme, hoteliers are remaining skeptical about reopening due to the lack of clarity in the recent announcement, which will reportedly take effect next month. The president of the Thai Hotels Association’s southern chapter says more hoteliers will consider reopening if the government gives further information about the plan in terms of prospective markets, arrival dates, origin countries, and flights.

Such details would allow hotels to prepare themselves ahead of time to offer services as alternative state quarantine premises as at least 60 hotels in Phuket are awaiting approval to operate as such a facility.

Around 90 percent of Phuket hotels reportedly remain closed and are revising their plans on a monthly basis to ensure any future income will not fall behind operation costs. In Chon Buri, the Tourism Council says only half of the 200 registered hotels have reopened, with up to 20 hotels applying for ASQ certification.

Another issue keeps hoteliers on standby as most international flights are currently only operating at Bangkok’s Suvarnabhumi airport, giving foreigners entering Thailand limited options for undergoing a state quarantine. Apart from landing in the country’s capital, tourism-related agencies also have to find appropriate marketing campaigns that would target visitors willing to comply with the 14-day mandatory quarantine requirements upon arrival.

Areas outside of Bangkok will need special transportation allowances set up for those entering through Suvarnabhumi to be transferred to their end destinations without being exposed to large groups of people.

Otherwise, as seen in the North with only 30% of hotels having reopened-some with only a 10% occupancy rate, hoteliers await further details of the scheme which is reportedly set to run between October 2020 to November 2021.

SOURCE: Bangkok Post

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Trials and tribulations 3. Returning to Thailand in the Covid era – on the home straight

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Trials and tribulations 3. Returning to Thailand in the Covid era – on the home straight | The Thaiger

byDavid Jackson

Monday morning and I’m on the home straight assuming I pass my final Covid test that I took yesterday morning.The situation hasn’t been too bad over the weekend as I was allowed outside into the hotel’s garden area for 40 minutes each day. On Saturday the threat of rain caused the nurse to request my early return to my hotel room, presumably the paranoia of any possible illness caused her some consternation; luckily the rain didn’t materialise and I stayed outside, I am a Brit… rain happens!

It certainly feels good on the eyes to see infinity and to finally observe people going about their daily business in the adjacent street whilst safely socially distanced at 300m.The garden area here in this hotel is full of flowers and small trees so I have modified my room race track into an outside one although, regrettably, my times for ten laps are actually getting longer.

You can read David’s first and second articles about his time in quarantine.

Every Alternative State Quarantine (ASQ) Hotel is paired with a local hospital and the nurses keep a good eye on you via the Line app.Every morning and night you have to report your temperature and they especially enjoy asking about your stools… welcome to Thailand. Incidentally, and most definitely not in any way related to the previous statement, there has been plenty of fruit and vegetables provided in both the Thai and Farang meals.

I have been asked to go into greater detail about the processes involved in the home country prior to embarkation.I must make a disclaimer here since I imagine systems and procedures will be changing rapidly, but this was my process.I have not included costings because this would depend upon the point of origin and many other factors.

The flight for me was booked via Thai Airways although the initiator of the paperwork for this flight was, in my case the Royal Thai Embassy in London.I eventually managed to book an ASQ myself after some stress because I was convinced there were not initially enough available.

In my case I did not need a visa since I already had a work permit and my exit/re-entry visa from a few months ago was still valid.The embassy will then issue you with a Certificate of Entry document so they know exactly when you are arriving in order to arrange the welcome committee (see my first article from last week). Incidentally I did everything online and there are some excellent staff at this embassy who really are working way beyond their remit so treat them well because they sincerely want to facilitate your return.

So, you now have a date and confirmed flight so stage two needs to begin.For me, I needed an additional insurance although I imagine many repatriates will already be covered, the key statement which should be shown on the certificate is Covid Cover to USD 100,000 and the welcome party will scrutinise this piece of paper so make sure it is bona fide.I used a Thai company via an agent and this contract was efficiently turned around in less than 48 hours.

The final two products are time specific.A ‘free of covid’ certificate undertaken via the PCR (aka. swab-up-nose) method plus fit-to-fly certificate.The rules are a validity of 72 hours prior to checking in for the flight and the embassy eventually confirmed a revised statement of 72 hours from the result and date of the certificate, not when the swab was taken. For me my covid test certificate was dated one day too early yet the doctor writing the fit-to-fly was happy to write a statement confirming the Covid test and dated it all within the 72 hour period.

This is what you need in specific order (excluding visa)…

  1. Flight
  2. Hotel
  3. Insurance
  4. Certificate of Entry (free from Thai embassy)
  5. Covid Free Certificate
  6. Fit to Fly certificate, or letter from a doctor (online in my case)

It was not cheap so do your maths; I have a job here in Thailand and certainly did not want to let down my boss, colleagues and students, so I 100% had to return. I personally do not think any of this is sustainable long term since the process which I followed, plus the 15 days lack of freedom, are brutal.Nevertheless, the hotels have done a grand job at making this happen so I imagine there will be some reverse pressure to maintain the 14 day quarantine for the time being if only to recoup some of this investment.

What an incredibly difficult year. The world is in a mess; we have virtually overnight destroyed the numerous transhumance systems created over many years to apparently save lives. We walk around scared to shake hands hidden behind masks and visors, like Armageddon is imminent, yet the 900,000 covid deaths are replaced in less than three days with new born children globally.

Let us hope that over the next few months the decision makers become slightly more pragmatic and, in my opinion, start to think about the longer-term economy and the status of foreign visitors within that.In the meantime, good luck with your paperwork and welcome back to The Land of Smiles.

The accompanying picture shows what can be achieved in eleven days using volumes and volumes of food packaging, chop-sticks, random pieces of plant and a pot scourer.

David Jackson in an English teacher and former headmaster from London working at St Mark’s International School, Bangkok.

Trials and tribulations 3. Returning to Thailand in the Covid era – on the home straight | News by The Thaiger

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Coronavirus (Covid-19)

No new cases today- Covid-19 update (July 7)

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No new cases today- Covid-19 update (July 7) | The Thaiger

Today, there have been no new reported cases of Covid-19 in Thailand over the past 24 hours leaving the total amount of cases remaining at 3,195 with 58 deaths since the pandemic began. The number of recovered patients remains at 3,072, leaving 65 still hospitalized.

The Center for Covid-19 Situation Administration said that of the 3,195 accumulated cases, 2,444 contracted the disease locally, while 258 were diagnosed in state quarantine facilities. The Kingdom has had no new community transmissions over the past 43 days.

Globally, the number of cases rose by 182,490 over the past 24 hours to 11.74 million. The death toll also increased by 3,884 to 540,660.

The United States had the most cases at 3.04 million, increasing by 57,905 over the last 24 hours and the most deaths at 132,979, increasing by 410 since yesterday.

Brazil has seen the second-highest number of cases at 1.63 million, up by 21,486 over the last 24 hours, with 65,556 deaths. India has the third-highest number of cases with 720,346 cases and 20,174 deaths. Thailand currently ranks 99th in the world for the number of reported cases.

No new cases today- Covid-19 update (July 7) | News by The Thaiger

Screenshot from https://covid19.ddc.moph.go.th/en

SOURCE: Bangkok Post

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