BusinessMirror August 22, 2020

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ROTARY CLUB OF MANILA JOURNALISM AWARDS

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A broader look at today’s business n

Saturday, August 22, 2020 Vol. 15 No. 317

EJAP JOURNALISM AWARDS

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DEPARTMENT OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS

PHILIPPINE STATISTICS AUTHORITY

DATA CHAMPION

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VACCINE FOR GRINCH

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By Cai U. Ordinario

HE longest Christmas season in the world is set to begin in less than two weeks in the Philippines, but doctors and local economists agree that this year’s observance of the holidays will be somber. In the view of Dr. Antonio Dans of the Philippine Society of General Internal Medicine and the Healthcare Professionals Alliance Against Covid-19 (HPAAC), the pandemic will certainly cast a shadow over this Christmas season. Dans said in an online briefing on Tuesday that this year’s festivities will not be as noisy and chaotic. He does not even expect any Christmas rush to happen this year because of the coronavirus disease 2019 (Covid-19). “I think the pandemic may continue until Christmas,” Dans later told the BusinessMirror via SMS. “Lots of prayers are needed.” This will have an impact on the economy in the fourth quarter, which has traditionally been the strongest in terms of GDP growth. Data showed that household consumption increased by no less than 5.5 percent in the past five years. In the past five years, data from the Philippine Statistics Authority (PSA) showed fourth-quarter household consumption grow-

ing as high as 6.7 percent but not lower than 5.5 percent. De La Salle University economist Maria Ella C. Oplas sees the holidays as being rather quiet, with some traditions such as reunions being done differently, if at all.

As Covid-19 is almost certain to steal Christmas from everyone, doctors and economists trying to make things better while a vaccine pends are pitching ways to banish the shadow of the pandemic.

Online reunions

IF there will be some growth in spending, she said this may come mostly from people who are spending for others who are in need. However, Oplas said Filipino families will continue to spend since it’s part of the holiday traditions but it will not be much. “It’s going to be a different Christmas. Reunions might still be done online,” Oplas said. “I guess the rest of the Filipinos are tweaking their expenses a little, but definitely they will spend.” Unionbank Chief Economist Ruben Carlo O. Asuncion said fourth-quarter household spending will continue to contract but not as much as the contraction of 15.5 percent recorded in the second quarter of the year. Continued on A2

Mystery grows over virus spread via food packaging

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VIDENCE shows that food is an unlikely route of transmitting the coronavirus across borders but contaminated items continue to grab the spotlight, deepening the uncertainty over whether the $220-billion cold chain industry could be implicated in the spread of Covid-19. The virus would need to survive freezing and then defrosting. It would need to get onto someone’s hands and then into their nose or mouth, and still survive. “I don’t think it would be a frequent mode of transmission but it is possible,” he said. China’s top respiratory disease expert Zhong Nanshan, who advises Beijing on its Covid-19 response, downplayed the role frozen food can play in transmission. “It is relatively rare to detect the virus from imported frozen food,” he said. “Let’s not exaggerate it.”

Guangzhou ban

AMID a lack of conclusive proof, China is taking precautionary steps, creating major disruptions with its trading partners. The Cold Chain Association of China’s southern coastal city of Guangzhou ordered all member companies to suspend imports of frozen meat and seafood from coronavirus-hit areas. The order was issued after the local government in the nearby city of Shenzhen found the virus

SKYPIXEL | DREAMSTIME.COM

China has repeatedly found traces of the pathogen on packaging and food, raising fears that imported items are linked to recent virus resurgences in Beijing and the port city of Dalian. In the nation’s strongest action since it began testing food items in June, a major Chinese city on Sunday banned imports of frozen meat from coronavirus hot spots. Cold-storage facilities and meat processing plants are ideal environments for the virus to spread, as the pathogen thrives in cold and dry environments. But there has been no concrete evidence the virus can be transmitted through food, and experts remain doubtful that it’s a major threat. “We know that viruses usually can survive being frozen. So that means in theory it’s possible that infection could spread that way,” said Benjamin Cowling, head of epidemiology and biostatistics at the University of Hong Kong. “But in reality, it’s a very low risk that that would happen because so many steps would need to be involved.”

Continued on A2

PESO EXCHANGE RATES n US 48.5610

n JAPAN 0.4580 n UK 63.6878 n HK 6.2659 n CHINA 7.0182 n SINGAPORE 35.4356 n AUSTRALIA 34.8765 n EU 57.5205 n SAUDI ARABIA 12.9482

Source: BSP (August 20, 2020)


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