Sunday, January 26, 2020

The Stock Market Growth in Wuhan, China

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If you don’t know what the coronavirus is, it is a large group of viruses that are common among animals. The virus can make people sick, usually with a mild upper respiratory tract illness, similar to a common cold. It includes a runny nose, cough, sore throat, and headaches. As of now, it is unclear how deadly the coronavirus is but major outbreaks began in Wuhan, China. Because of the uncertainty of the virus, Chinese state media in the city of Wuhan are planning to suspend bus, subway, ferry, and long-distance passenger transport. In addition, Wuhan authorities state that residents should not leave the city unless it is under special circumstances to prevent the virus from spreading. I think that this is a good idea but I also believe that they should make the restrictions stricter mainly because we don’t know how deadly it is yet. The outbreak is not only affecting individual’s lifestyle and safety but the Chinese stock market as well. For the past two days, the stock of drugmakers and mask manufacturers have been surging. Because of this massive lineup at pharmacies and convenience stores to stock up on masks and antibacterial soaps, the prices of these items have been raised significantly. One citizen said, “I can’t afford masks anymore.” Personally, I do not think that these prices should go up because it’s putting more people in danger of getting sick. What do you guys think of this situation? Should authorities be more strict about transportation? Should the prices of these items go up?

4 comments:

Anonymous said...

I also agree with you that the prices of these masks to soaps should not be going up but perhaps from an economic standpoint, it makes sense that it's increasing due to there being a short supply and a large demand. I do hope that these people do receive some help in having enough resources for these items. I also believe that authorities should be more strict on transportation since that virus is spreading pretty quickly to people who are near ones that are affected. It's unfortunate that this is happening in China, the US, and other countries.

Anonymous said...

Truthfully, I believe this is a devastating issue that is currently occurring in our world today. Even though the coronavirus poses no threat so far, the fast spreading virus poses a problem. This situation is definitely one of the world's biggest problem as of right now, and because there hasn't been a cure discovered yet, the world has become more in chaos. I agree that the prices of the masks and soaps should not be going up because it allows the virus to become more widespread and dangerous, but at the same time I understand why it is rising in prices. Manufactures and producers are taking advantage of the current situation, and are making a lot of money from these products. Due to the high demand, and most likely the lack of production, the prices would no doubt rise like any other product, but it ultimately is just unjustified. Transportation shouldn't necessarily be stricter as people are only cutting transportation to limit the virus from spreading. However, there are hundreds of other ways that the virus can spread as the world involves day to day human interaction. Human interaction cannot be stopped, and simply limiting transportation will not significantly cut the number of people who contract the virus.

Anonymous said...

I personally don't know how I feel regarding transportation; on the one hand, it's a good idea to somewhat quarantine the area, to ensure limited amount of spreading of the coronavirus. However, is it ok to take away a person's ability to leave a place like that? What if there are children who need to leave because they might get sick but aren't yet?
Regarding the health necessities and their rise in price, I look at that from a moral standpoint. I think that these items should become even more accessible in a time like this, because aren't the health and lives of people more important than a company's profit? It is frustrating to me, but I also understand that economy is a thing and needs support, even if that means acting immorally.

Anonymous said...

Thanks for the comment Olivia. I agree with your statement regarding transportation. It can go both ways whether it be to limit the virus from spreading faster or further but what about those who are healthy and want to leave the area. I'm somewhat conflicted. If it is possible to detect the virus and allow transportation, that might be a better idea? But I can also see how going to the doctor to get examined is not possible for everyone.

In regards to Mitchell's and Srimaye's comment, I fully agree with the issue of products in demand. In a serious situation like this, manufacturers should not take advantage of bumping up the price of face masks and other supplies. I personally think that it a cruel thing to do. Mitchell poses an interesting comment. He said, "Transporation shouldn't necessarily be stricter as people are only cutting transportation to limit the virus from spreading. However, there are hundreds of other ways that the virus can spread..." I haven't thought of the situation from this standpoint yet but now I realize how easily the virus can be transported. Now, it's whether other transportations and issues should be stricter or not.

In other words, this virus is not something to take lightly. Remember to sanitize and wash your hands!