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Australia falls into a recession, global economies at a loss

Caitlin Ashworth

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PHOTO: Michael Lee

“Our record run of 28 consecutive years of economic growth has now officially come to an end. The cause: a once-in-a-century pandemic.”

Just about everyone hit from the coronavirus pandemic. Businesses closed. Many lost their jobs. Paychecks were cut. Economies across the globe slipped into recession and Australia is now added to that list. The country reported it has sunk into a recession for the first time in 28 years. China is the only major economy that experienced a growth.

Australia has reported 26,000 confirmed Covid-19 cases and 663 deaths. The country was able to slow the spread and contain the virus, for the most part, but a recent outbreak in Melbourne caused 5 million people to go into lockdown. Treasurer Josh Frydenberg says the recession confirms the negative impact the pandemic has on the Australian economy.

“Our record run of 28 consecutive years of economic growth has now officially come to an end. The cause: a once-in-a-century pandemic.”

In Thailand, the economy is shrinking so much, it’s close to hitting as low as it did in the 1998 financial crisis. The Thai economy is dependent on tourism, but with the pandemic’s travel restrictions, the industry is at a major loss.

The Thai government is trying to figure out ways to get domestic tourism up and running again. They’re also trying to map out a plan to allow international travellers to enter Thailand safely, without risking a potential second wave of the coronavirus.

In the Philippines, so many people don’t have paper cash that they are now bartering items for food. Charles Ramirez launched a bartering website in Manila that now has 14,000 members. Bartering groups have also popped up on Facebook.

“People are realising that while they have no money, they have accumulated a lot of material things … It’s a depressing feeling, of course, having to let go of things you have accumulated just to be able to survive.”

The virus also led Brazil to fall into a recession. The economy contracted 9.7% in the second quarter of the year. The country’s GDP is now the same as it was during the 2009 global financial crisis, according to the Brazilian Institute of Geography and Statistics.

China is the only major economy that has avoided recession, even though it’s where the virus started. The economy dipped by 10% in the first quarter, but shot back up 11.5% in the second quarter.

SOURCE: Bangkok Post

 

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4 Comments

4 Comments

  1. Avatar

    james

    Wednesday, September 2, 2020 at 10:40 pm

    Australia is a tiny economy anyway, smaller than that of India.

    Its main export is iron ore and other minerals to China which makes things out of them and then sells them back to Australia.

    This news will not affect the rest of the larger world economies.

    • Avatar

      Preesy Chepuce

      Thursday, September 3, 2020 at 1:21 am

      Lol, you can’t compare an advanced economy with a developing one, no matter the numerical “size”, most of the effects in the real economies of the so-called “large economies” are hidden… Don’t believe the China numbers at all.

      • Avatar

        james

        Thursday, September 3, 2020 at 9:23 pm

        Preesy

        You can try and polish it up as much as you want, Australia is a small economy, once they run out of minerals they will turn back into a desert.

        They don’t even have nuclear power, how backward is that?

  2. Avatar

    James

    Friday, September 4, 2020 at 10:44 pm

    Aussi gov should focus more on its economy rather than running too much into international politics.

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Caitlin Ashworth is a writer from the United States who has lived in Thailand since 2018. She graduated from the University of South Florida St. Petersburg with a bachelor’s degree in journalism and media studies in 2016. She was a reporter for the Daily Hampshire Gazette In Massachusetts. She also interned at the Richmond Times-Dispatch in Virginia and Sarasota Herald-Tribune in Florida.

Coronavirus (Covid-19)

Health officials race to vaccinate 70% of Khlong Toey slum residents

Tanutam Thawan

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Photo via Facebook/กรุงเทพมหานคร โดยสำนักงานประชาสัมพันธ์

Health officials are racing to vaccinate 70% of residents in Bangkok’s Khlong Toey neighbourhood, the largest slum in the city where hundreds have tested positive for Covid-19 since April. With people living in crowded conditions and many unable to take off work to self-isolate, Thai authorities have been rolling out proactive Covid-19 testing and a mass vaccination campaign in an effort to contain the virus.

A third vaccination unit has been set up in the district at the Port Authority Stadium, adding to the units at Tesco Lotus Rama IV and Wat Khlong Toey School. Around 50,000 of the 80,000 residents in the Khlong Toey slum need to be vaccinated against the coronavirus to reach herd immunity, according to Bangkok Governor Aswin Kwanmuang.

As of Sunday, 11,211 people had been vaccinated at the mobile units and each vaccination unit has been handing out 1,000 queue cards each day. With the third vaccination unit, city officials plan to inoculate 2,500 to 3,000 people per day until May 19.

The Bangkok Metropolitan Administration launched a proactive testing campaign on April 27 in the Khlong Toey district. Since then, 19,983 people have been tested with 654 people positive for Covid-19. 5,700 people are waiting for the results to come back and the others are negative.

SOURCE: Nation Thailand

 

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Phuket

ICU beds for Covid-19 patients in Phuket are close to a “critical” low

Tanutam Thawan

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FILE PHOTO

Covid-19 patients in severe condition may have to been transferred from a government hospital in Phuket to a private hospital as the number of available hospital beds at public intensive care units in Phuket is close to a “critical” low, according to Vachira Phuket Hospital Director Chalermpong Sukontapol.

There are 9 ICU rooms at the Vachira Phuket Hospital. 5 are being used for Covid-19 patients with severe symptoms while the other 4 rooms are for those with mild symptoms and are under observation before being moved to another bed.

“If the 9 rooms are full of severe symptom cases, that will be a big critical stage. We may need to transfer our patients to other provinces or private hospitals, which may involve additional costs.”

He says 50% of the Covid-19 patients in Phuket are asymptomatic while 30% have mild symptoms and 10% have severe symptoms. For most of those with severe symptoms, the virus has moved to their lungs and they are in need of special equipment, like ventilators, to help them breathe and Charlempong says those patients need to be under close observation.

SOURCE: Phuket News

 

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Thailand

Covid-19 variant first detected in India reported in Thailand state quarantine

Tanutam Thawan

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Photo via Pixabay

The mutated strain of Covid-19 that was first reported in India has been detected in Thailand. Health officials say a Thai woman and her young son tested positive for the variant while in quarantine for those arriving in Thailand from overseas.

The mother and her sons, ages 4, 6, and 8, had arrived in Thailand from Pakistan on April 24, according to a spokesperson for the Centre for Covid-19 Situation Administration. Just the mother and her 4 year old son tested positive for the B.1.617.1 strain, a variant first reported in India, while they were in a state-arranged quarantine facility.

“These were the first detections of the Indian variant in the country…There is concern about this variant and about the possibility that it could mutate in Thailand.”

The Thai government had banned flights from India, with the expectation of repatriation flights for returning Thais, due to the new variant of the virus. With the new variant found in people travelling from Pakistan, authorities are now mulling over whether to extend the ban on international arrivals from other countries.

The variant was first detected in India in October and has been reported in Pakistan, Nepal, Bangladesh, Singapore, Malaysia, and Indonesia.

SOURCE: Bangkok Post

 

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