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The Artful Todger
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11-05-2020, 08:57 AM
61

Re: Tracking Down the Origin of the Wuhan Coronavirus

Originally Posted by Bruce ->
That's pretty right. 65% of our agricultural products are exported so any resistance to buying our output costs us money. We have a massive trade surplus with China, when China sneezes we catch cold.

None of our agricultural products are subsidised and compete against other big producers like South America and Canada.
Don't forget Russia and other former USSR states. Russia alone grew more wheat than twice that grown by America last year though has put a hold on exports a) because of the desire to build a stock in case covid results in a shortage of world supplies which would result in a substantial price hike and b) because Russia doesn't need to export. American sanctions as usual have no effect other than on countries that get swept up by having to support American policies even at a considerable cost to their own economies. Cutting off imports from Oz would have no real effect on China.
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11-05-2020, 09:14 AM
62

Re: Tracking Down the Origin of the Wuhan Coronavirus

Originally Posted by Bruce ->
That's pretty right. 65% of our agricultural products are exported so any resistance to buying our output costs us money. We have a massive trade surplus with China, when China sneezes we catch cold.

None of our agricultural products are subsidised and compete against other big producers like South America and Canada.
Very apt sentence.

In fact, it's a life sentence!

For some, the important factor, in this topic, is the risk to trade.

For others, the death of thousands, millions, is more important.

(Mustn't upset the suspects, they might take offence!)
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11-05-2020, 09:43 AM
63

Re: Tracking Down the Origin of the Wuhan Coronavirus

Originally Posted by Tedc ->
Very apt sentence.

In fact, it's a life sentence!

For some, the important factor, in this topic, is the risk to trade.

For others, the death of thousands, millions, is more important.

(Mustn't upset the suspects, they might take offence!)
There must always be a balance reached between economy and risk to life, there is even a monetary value placed on a human life and if preserving a life costs more than that then it's a case of goodbye nurse.

Various figures are bandied about but in the. UK it's around £5 mil and in the USA around $7 mil.

Ford used this principle when reaching the decision regarding the cost of retrofitting the Pinto Vs the cost of being sued in the case of injury resulting in the retrofit not being done.

Unfortunately for Ford this strategy became known and it cost Ford dear but the principle of including the monetary value of a person when establishing a cost/benefit evaluation is fixed in place.
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11-05-2020, 10:04 AM
64

Re: Tracking Down the Origin of the Wuhan Coronavirus

Hi

There is always a cost balance when it comes to protecting lives and the Economy.

We got it wrong, other Countries got it right and are reaping the benefits.
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11-05-2020, 11:15 AM
65

Re: Tracking Down the Origin of the Wuhan Coronavirus

The thread is about tracking down the virus, not economics!
And on thesubject,isnt it accepted that the virus came from China??

Donkeyman! 😟😟
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11-05-2020, 11:32 AM
66

Re: Tracking Down the Origin of the Wuhan Coronavirus

Originally Posted by The Artful Todger ->
There must always be a balance reached between economy and risk to life, there is even a monetary value placed on a human life and if preserving a life costs more than that then it's a case of goodbye nurse.

.

The point of "Balance" is, usually, in a different place depending on whether the life involved is one of yours, or one of someone else's.

Look at the disrespect, by the advisors & rule makers, on who should be locked in and who could travel to visit his/her mates. (accent on "mates").

Then there is the "age" decision - well we know, now that decisions are made on the "over somethings" presumably equally balanced for the family of the doctor, versus the also ran.

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11-05-2020, 11:36 AM
67

Re: Tracking Down the Origin of the Wuhan Coronavirus

Originally Posted by Tedc ->
The point of "Balance" is, usually, in a different place depending on whether the life involved is one of yours, or one of someone else's.

Look at the disrespect, by the advisors & rule makers, on who should be locked in and who could travel to visit his/her mates. (accent on "mates").

Then there is the "age" decision - well we know, now that decisions are made on the "over somethings" presumably equally balanced for the family of the doctor, versus the also ran.

Ditto
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11-05-2020, 11:56 AM
68

Re: Tracking Down the Origin of the Wuhan Coronavirus

Originally Posted by Donkeyman ->
The thread is about tracking down the virus, not economics!
And on thesubject,isnt it accepted that the virus came from China??

Donkeyman! 😟😟

Thing is that the impact of the Whoo Hoo Floo has to be viewed
in terms of a numberr of interrelated dimensions that include economic consequences.
 
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