Milan braces economic slowdown after spike in coronavirus cases
UNTV News • February 27, 2020 • 775
Milan, capital city of northern Italy’s Lombardy region is seeing a drastic economic slowdown, after a spike of coronavirus (COVID-19) cases in the region, raising anxiety about a broader slowdown.
A total of 400 people tested positive for the novel coronavirus in Italy, up by 26 from the official tally released at noon, Civil Protection chief and Extraordinary Commissioner for the Coronavirus Emergency Angelo Borrelli told a televised press conference on Wednesday.
The number includes the deaths, which remained unchanged at 12, and the three recovered, Borrelli said.
Among the confirmed cases, 258 are in Lombardy, and another 71 are in the Veneto region with Venice as its regional capital, 47 in Emilia Romagna, and 11 in Liguria.
While the government has ordered a lockdown of 11 communities and the cancellation of all schools and public events in five northern regions, many big businesses have chosen to implement a “work smart” policy, telling employees to work from home.
Milan is no ghost town, but it has clearly slowed down, as the usually bustling main train station is quiet, public transit is empty, and taxis sit idle. Even Milan’s Fashion industry, has been hit.
Carlo Capasa, Chairman of the Italian Chamber of Fashion, said the virus affected sales in China and now is threatening Italy.
“Well, the effect is quite strong because in China, as you know, for many days, most of the department stores they were deserted, so the business has been dropping dramatically. Now we are afraid that the retail in Italy could suffer a little bit. Between what Chinese buy in China and what Chinese customers shop here, it goes around 30 percent, it’s a big market,” said Capasa.
Italy’s tourism industry has also felt the pinch.
Milan is clearly not void of tourists, but the number saw a decrease. In 2019, tourism brought a profit of 40 billion euros to Italy, 13 percent of its gross domestic product.
Italy’s northern regions and in particular the regions of Lombardy and Veneto where the highest number of confirmed coronavirus cases have been discovered are among the richest, the most dynamic and the most export-intensive in a country with a public debt three times its GDP.
The Bank of Italy has estimated a 0.2-percent loss of GDP growth due to COVID-19.
However, Marco Bettin, Chief Operating Officer at the Italy China Foundation, a nonprofit organization supporting the annual 40-billion-euro bilateral cooperation, said it’s too early to quantify the economic impact.
“Up to now we don’t have heavy consequences on the supply chain because most of the supply has been made before the Chinese New Year. So now we are experienced–. It is very hard to say, because the situation is still ongoing,” said Bettin.
While masks have been sold out for days and hand sanitizer has doubled in price, pictures circulating of panic buying and empty shelves across the city have been exaggerated, at least for now.
Residents appear far from panicked, but there is growing anxiety as the number of COVID-19 cases continues to rise in the country.
Brazilian President Jair Bolsonaro said on Monday (July 6) he had undergone another test for the novel coronavirus, after local media reported he had symptoms associated with the COVID-19 respiratory disease, including a fever.
Bolsonaro told supporters outside the presidential palace that he had just visited the hospital and been tested for the virus, adding that an exam had shown his lungs “clean.”
CNN Brasil and newspaper Estado de S.Paulo reported that he had symptoms of the disease, such as a fever. The president’s office did not immediately respond to a request for comment.
Bolsonaro has repeatedly played down the impact of the virus, even as Brazil has suffered one of the world’s worst outbreaks, with more than 1.6 million confirmed cases and 65,000 related deaths, according to official data on Monday.
The right-wing populist has often defied local guidelines to wear a mask in public, even after a judge ordered him to do so in late June.
Over the weekend, Bolsonaro attended multiple events and was in close contact with the U.S. ambassador to Brazil during July 4 celebrations. The U.S. embassy in Brasilia did not immediately respond to a request for comment.
Bolsonaro previously tested negative for the coronavirus after several aides were diagnosed following a visit to U.S. President Donald Trump’s Mar-a-Lago, Florida, estate in March. (Reuters)
The Italian-Swiss border reopened on Monday (June 15) allowing people living in the border towns of Como and Chiasso to freely cross the border which separates the two countries.
A long line of cars carrying Italian cross-border commuters working in the Italian-speaking southern canton of Ticino reached Switzerland through the border of Chiasso as coronavirus (COVID-19) travel restrictions across Europe are gradually eased.
It is hoped the opening of borders with fellow European Union countries could help salvage the summer season for the country’s battered travel and tourism industry.
The Schengen area of 22 EU countries plus Iceland, Liechtenstein, Norway and Switzerland operates control-free crossings, but they have been mostly closed for three months to all but goods traffic and critical workers.
Before the crisis, an average of 3.5 million people crossed an internal EU border every day, according to a European Parliament report last year, some 1.7 million of the commuting to work. (Reuters)
(Production: Alex Fraser, Gabriele Pileri, Fabiano Franchitti)
As Sharif Uddin begins to dream about leaving the cramped Singapore dormitory where he has spent weeks under coronavirus quarantine, fears about his future are creeping in.
The 42-year-old Bangladeshi construction site supervisor is one of the thousands of low-income migrant workers trapped in packed bunk rooms that have been ravaged by the coronavirus, accounting for more than 90% of Singapore’s 38,000 infections.
As Singapore began easing its lockdown measures this month, migrants like Uddin started to think about returning to the outside world, bringing to the surface worries about jobs and debts as Singapore braces for its deepest-ever recession.
“The fear of losing jobs is worrying everyone at the moment,” said Uddin, who sends the bulk of his wages to his family in Bangladesh, like many of the South Asians working in manual jobs in Singapore.
For most migrant workers, at least part of their salaries is used to pay off the steep fees of the agent who helped procure the job.
Reuters has interviewed over a dozen migrant workers in Singapore in recent weeks. While many said they were still being paid, they were unsure if they will retain their jobs when the quarantine is lifted.
The Singapore government has given companies tax breaks to try and ensure migrants get paid while under quarantine and introduced measures to help laid off workers find new positions without having to first travel back to their home country, a core complaint of many labourers.
Lawrence Wong, the co-head of Singapore’s virus task force, told Reuters that the government had taken steps to help alleviate the concerns of workers around job security, but added that layoffs were possible given the grim economic outlook.
“There may be some contractors who might decide – well despite all the government measures, with the new arrangements, the new additional requirements in construction, it is very difficult and I might not want to continue in this industry – and then indeed they might release some of their workers,” said Wong, who is also the minister for national development.
He added that some workers may remain quarantined in their dormitories until August, or possibly beyond, as the government completes mass testing.
The pandemic has drawn attention to the stark inequalities in the modern city-state where more than 300,000 labourers from Bangladesh, India and China often live in rooms for 12 to 20 men, working jobs that pay as little as S$20 ($14.30) a day.
That is higher than they would make at home. But the median salary for Singaporeans in 2019 was S$4,563 per month, according to the manpower ministry.
The bigger worry for many migrants like Uddin is the debts they have racked up securing jobs in Singapore.
Migrants will usually be charged S$7,000-10,000 in fees by a recruitment agent in their home country, equivalent to more than a year of their basic salary, according to rights groups. If they lose their job, this debt could haunt their families for years.
“An indebted worker is a more compliant worker and that is what the employers like. That is one reason too that employers prefer to have new workers, than to retain old workers,” said Deborah Fordyce, president of Singapore NGO Transient Workers Count Too.
Wong, the minister, said the government will continue to work to improve migrants’ lives in Singapore, but tackling issues like fees is difficult because many agents operate in the workers’ home countries outside the city-state’s jurisdiction.
Singapore’s government has pledged to improve living conditions for migrant workers in the short-term and build new, higher-spec dormitories over the coming years. (Reuters)
(Production: Pedja Stanisic, Joseph Campbell, Edgar Su, Travis Teo)
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