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Impact of Coronavirus on Economies Video Discussion

Impact of Coronavirus on Economies Video Discussion

Question Description

Complete the following questions after viewing the posted videos in the classroom.Limit responses to no more than 300 words per question.

Video #1:Coronavirus Hits Companies in China, but They Still Have a Reason to Stay

  • Discuss globalization and the emergence of China as the world’s factory floor and more recently, an important market for multinational companies.What are the dangers of relying on a single market for both production and sales?
  • Reflect on the value of lean production and just-in-time delivery.Have companies taken the strategy too far?Should companies shift at least some production from China so other locations like Vietnam even when China represents the optimal location from a cost and productivity standpoint.
  • Consider the implications of disruptions to a company’s global supply chain from unexpected events like weather or a pandemic.How is COVID-19 different from a situation like the tsunami that hit Japan in 2011?

Video #2:Coronavirus:South Africa’s Economic Victims

  • Can South Africa’s fishing industry survive the outbreak of the novel coronavirus in China?Will South Africa’s lobstermen be able to recover from China’s novel coronavirus?
  • Reflect on globalization and South Africa’s fishing industry.How has globalization brought greater prosperity to the industry?What are the drawbacks of globalization for South Africa’s fishermen?
  • What are the lessons that can be learned from South Africa’s fishing industry in the wake of the COVID-19 pandemic?Should countries take a more inward focus?What are the long-term implications of the novel coronavirus for developing economies like South Africa?

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