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The Global Worth of Coronavirus Cure or Antidote – US$4.3 Trillion

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There are few things that can not be restricted. While human and other tangible things can be restricted from entering a place, these few things are immune to restrictions. The government of every country has a security slogan that reads “protection of national integrity ”. while this is a great security strategy there are ways by which security can be affected but not physically.

One of such ways is the outbreak of epidemics. An outbreak of pandemic is like “an injury to one, an injury to all situations.” An epidemic that happens in a place has the tendency of traveling to other countries without detection at the initial stage. it is border-less, race-less and location-less It is a global affairs.

That is exactly the story of the coronavirus diseases (COVID-19) outbreak. It started in a city called Wuhan Hubei China when a 55 year old man was detected with the virus. This quickly spread to many people and countries such as Italy, South Korea, North Korea, Japan, Iran, USA, Nigeria among others. Experts say the coronavirus is an airborne disease that spreads through respiratory droplets. Which means it is contamitable through the breath of humans, sneezing and coughing that comes from humans.

Due to the injury-to-one-injury -to- all coronavirus pandemic, the current statistics as reported by worldometer as at 15th March 2020 are;

  • Global cases of Coronavirus is 149,596
  • Global death caused by Coronavirus is 5604
  • Global recovery from Coronavirus is 73,716.

In the space of two months and few days of the outbreaks it has created negative global impacts that have shaken the roots of economic prosperity of nations.

Negative Multiplier Effects of COVID-19 to Global Economy.

National economic recession is very bad for an economy that talks more of global economic depression. We should pray it should not happen. But with the spread of this pandemic and the impact it has created, there are gloomy forecasts. Here are the negative impacts of the virus so far;

1.Decline in International Trade:

As part of the measures to contain this disease, many counties have placed bans on international travelling. Business conferences and events have been cancelled. China, which is a major manufacturing economy has also shut down production. As everybody is afraid of contracting the deadly covid-19 diseases. The virus could be contracted via contact with people, conversations, public gathering etc.

That means every country will witness a decline in its Balance of Trade (BOT) and Balance of Payment (BOP). This will affect global business activities.

2.Impact on Foreign Exchange Market:

Forex markets thrive when there is a robust international trade. This is because it is international trade that triggers the demand for currency and supply of currency. So at this time, currencies of many nations will depreciate in value because of its low demand by other countries. If there is no business transaction between nationals of a country with nationals of another country, it will lead to no demand for the country’s currency. So, international trade is the grease of the Forex market.

3.Impact on Stock Exchange Exchange:

Will you buy stock in times like this? A time when economic activities across many countries are almost being halted by the coronavirus pandemic? It is not risk averse to buy stocks at this time.

Many companies are recording decline in their market capitalization due to the problem posed by the pandemic.

According to a report by Forbes the Dow Jones has declined by about 28% between February 11 and march 12, 2020, driven by the coronavirus pandemic and turmoil in the crude oil markets. That is in a period of one month, the companies that drive the US economy have declined in market cap by 28%. That is serious!

 4.Cancellation of Sport Events:

According to an article from Tekedia which stated that scientists believe that coronavirus can survive in the air for three hours, it can stay alive on copper for four hours and 24 hours on cardboard and 72 hours on plastic and steel. This has led to the cancellation of match and sport events by football associations and other sports associations. It has also been confirmed that some footballers are now diagnosed to be coronavirus positive.

What a big problem to the sport industry.! What a shock to the football clubs!

What do you think could be the worth of the cure or antidote to this globally ravaging virus?

The Economic Worth of Coronavirus Antidote

We can only know the worth of a product when we know the cost of the problem it helps to solve. We have analysed the global problems the coronavirus had created. We shall know the cost of the virus from this world bank statistics;

An internal report from the world Bank stated that in a severe pandemic, sagging tourism, transportation, retail sales, and productivity, coupled with workers absenteeism, could reduce global GDP by 4.8% according to Bloomberg.

What does this mean? It means that;

  • The global 2020 GDP is predicted to be $90,519.61bn.
  • A 4.8% decline of the global GDP caused by the negative multiplier effects of the virus will be $4,344.94bn.

So the global monetary worth of the cure is estimated to be $4.3 trillion. That means if the cure or the antidote is discovered we will not lose this huge money.

 What then shall we do? The answer is to develop the cure.

I hereby use this medium to call on government stakeholders, Bill Gates and Melinda foundations, Global citizens, entrepreneurs ( Strive Masiyiwa, Jack Ma), Milken Institute and others to rise collectively to combat this pandemic that could cause a global economic recession. If we don’t solve this problem collectively, then we are small together and the coronavirus is stronger than us.

What is in your mind on this global trend? Comment below and join the conversation.


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Coronavirus – Our Victory Is Certain

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  • Father, we’re here
  • We’ve lived the grace – the amazing and abiding grace.
  • As you send your angels on assignments today
  • Lord, we are here.
  • As you send them to bless men and women
  • Father, our hands are raised up.
  • In the deepest of the night, and the brightest of the day
  • Our hope remains on Thee.
  • Oh Lord, our God, thou has taken us out of the miry clay
  • Into  thy greener pasture.
  • Coronavirus will find no strength in us.
  • As we listen to doctors and follow health experts
  • In thy bosom, we will dwell.
  • Thy dew is mild, oh Lord
  • Thy oil soothes the nations
  • Thou ruleth the ecclesiastical bond with thy wisdom.
  • David made joyful noise with cymbals and flutes
  • Our lives will be thy praise and joy.
  • Protect us. Preserve us. Keep us.
  • From coronavirus.

 

Ndubuisi Ekekwe

3/15/2020

 

Bill Gates Steps Down from Microsoft Board

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Microsoft cofounder, Bill Gates, is stepping down from the board of the company. The former CEO announced on Friday that he will be concentrating on philanthropic works of the Bill and Melinda Gates Foundation.

“I have made the decision to step down from both of the public boards on which I serve – Microsoft and Berkshire Hathaway to dedicate more time to philanthropic priorities including global health and development, education, and my increasing engagement in tackling climate change,” Gates wrote on his LinkedIn page. “The leadership at the Berkshire companies and Microsoft has never been stronger, so the time is right to take this step.”

“Serving on the Berkshire board has been one of the greatest honors of my career. Warren and I were the best of friends long before I joined and will be long after. I look forward to our continued partnership as co-trustees of the Bill & Melinda Gates Foundation and co-founders of The Giving Pledge.”

It has been a long fulfilling adventure for Gates, and Microsoft and Berkshire have borne testimony of an incredible 45 years journey that has treated the world to a taste of technology that was only imagined.

In 1975, Paul Allen and Bill Gates co-founded Microsoft. Gates had dropped out of college and moved to Albuquerque, in New Mexico in search of answers to innovative questions his inquisitive mind was full of. There he teamed up with his childhood friend Allen to set up Microsoft.

Five years later, Microsoft was signing an agreement with IBM to develop the MS DOS operating system. It was a breakthrough that spurred spontaneous growth for the company. In 1986, Microsoft went public. A year later at age 31, Bill Gates was making history as the youngest self-made billionaire.

Gates served as Microsoft CEO until 2000 when he made way for Steve Ballmer. Eight years later, he relieved himself of the day to day work in the company. In 2014, Gates resigned his position as chairman of the board dedicating much of his time to charity works.

Nevertheless, Gate was still a member of the Board of Directors until Friday when announced his decision to put that position behind his philanthropic priorities. But he said he’s never running away from Microsoft.

“With respect to Microsoft, stepping down from the board in no way means stepping away from the company. Microsoft will always be an important of my life’s work and I will continue to be engaged with Satya and the technical leadership to help shape the vision and achieve the company’s ambitious goals. I feel more optimistic than ever about the progress the company is making and how it can continue to benefit the world,” he said.

Gates will still serve as technology advisor to Satya Nadella, who personally requested that in 2014 when Gates stepped down as the chairman of the Microsoft’s Board. Satya said he has learned a lot from Gates and looks forward to continuing learning.

“It’s been a tremendous honor and privilege to have worked with and learned from Bill over the years. Bill founded our company with a belief in the democratizing force of software and a passion to solve society’s most pressing challenges,” Satya said in a statement. “The Board has benefited from Bill’s leadership and vision. And Microsoft will continue to benefit from Bill’s ongoing technical passion and advice to drive our products and services forward. I am grateful for Bill’s friendship and look forward to continuing to work alongside him to realize our mission to empower every person and every organization on the planet to achieve more.”

Gates reiterates his commitment to ensure that Microsoft and Berkshire stay strong in the tech space, while he pursues philanthropy as his next priority.

“I am looking forward to this next phase as an opportunity to maintain the friendship and partnerships that have meant the most to me, continue to contribute to two companies of which I am incredibly proud, and effectively prioritize my commitment to addressing some of the world’s toughest challenges,” he said

Bill Gates is famously the second richest person in the world after Jeff Bezos, with a fortune worth $103.6 billion according to Forbes. The 65 years old has reportedly reduced his stake in Microsoft with $4.6 billion donations.

The Bill and Melinda Gates Foundation has doled out $100 million to combat coronavirus. The foundation appears eager to do more in its bid to solve problems, especially in developing countries.

The World Needs The Spirit of Umunneoma Economics To Fight Coronavirus

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In my village of Ovim (Abia state), we have an area dedicated to support those in need. Agbongele Ugwunta has a concentration of fruits planted by young men in the community who are tasked to plant and nurture those fruits. Any person can go to Agbongele, and harvest any fruit but never to take home. The deal is this: it is an abomination to sell any produce from that place but you are free to enjoy as much as you can.Thrice a year, male born would go and weed and also ensure the fruits are doing great. 

In this time of coronavirus, coming together is key for the world. There are great lessons from African history.  “Onye aghana nwanne ya”- do not leave your brethren behind. Like I tell people, it would be nearly impossible to have extremely rich Igbo traders because they win by funding competitors and dividing their market shares through the Igbo apprenticeship system. How can a man give his customers to his brethren just to ensure he does not close his shop and move to the village? You have no chance to win over that spirit in any market.

The soul of the Igbo Apprenticeship System could be likened to the U.S. Federal Reserve which largely works to keep the U.S. dollars stable (by reducing inflation) and maximize employment through interest rates. So, the Reserve has defined main focus areas even though it can use its systems to do other things. Consequently, the U.S. Congress uses those two main factors to ascertain the effectiveness of the Reserve policy. For the Igbo Apprenticeship System, the main focus is to prevent poverty by mass-scaling opportunities for everyone, and not building conglomerates!

So, you have a scenario where a man (trading in a city) goes to his village, picks 3 boys who might have lost their fathers, and decides to ensure they have meaningful lives despite the tragedies that befell them. Those boys serve him for some years, and one afternoon, he invites his kinsmen, friends, business partners and everyone as he “settles” them.

This settlement is simply dividing his market share among these boys. In other words, assume he holds 3% in that specific market, by the time he is done, he might be holding only 2%, releasing 1% to the boys. For him, the growth of his company is not what matters – it is that “his boys” do well. Then, he does not stop there, he begins to send the boys opportunities, making sure they are able to thrive independently. No Western textbook teaches that!

The Umunneoma* Economics will confuse any Harvard, Wharton or FUTO graduate because no textbook will teach you to go to a village, bring 5 boys to city, and within six years, give them money, assets, etc to become your competitors. But look deeper, the new global capitalist manifesto which is working to go beyond fixated focus on shareholders to considering ALL stakeholders is something that Umunneoma Economics is doing.

The Agbongele is a philosophy across ancient Igbo to ensure no one goes to bed on empty stomach, reducing begging and severe inequality in communities. The world needs to come together, on that shared spirit, as we look for solutions to Covid-19.

*Umunneoma means “good brethren” in Igbo.

Coronavirus: Atiku Abubakar On Point In His Updated Statement To Nigerian Government

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As the Corona Virus continued it ravaging and devastating impact globally affecting every sector of human endeavours, Nigeria has continued her curtailment strategy on a very high note. As at the time of writing this piece, the Italian index case that came into the country has been said to have recovered fully and discharged from the health facility where he was hitherto held.  One Nigerian case that was suspected to have had contact with the Italian has tested negative.

To have kept a clean state from COVID 19 at a time drastic measures were being taken across the world to curtail its spread is an indication that Nigeria has learnt lessons from the Ebola outbreak and leveraged on the resilient system built at the time. The US has imposed travel restrictions on travellers coming in to the country from European Schengen countries. The restriction take effect from today.The country has also banned sports activities and public gathering. Scotland has recorded her first novel virus death. The UK has shifted her local and mayoral elections for one year. Canadian Prime Minister’s wife has tested positive to the globally declared pandemic. The whole world is making frantic efforts to delay the spread of the deadly virus which has been responsible for 5,374 deaths across the world with China still leading the charge as the country of origin of the deadly virus. In all of these frightening statistics, Nigeria has kept her calm and has not recorded any case of death from the virus.

Image : Eight badly hit country by COVID 19 (Source: Worldometer,2020)

In an earlier analysis of Nigeria’s effort at combating the virus, stakeholders and institutions were urged to assist government institutions not only in the fight against the virus but also the attendant fake news and misinformation using. One Nigerian that has stood up to this challenge is the former Vice President of Nigeria and the presidential candidate of the People’s Democratic Party in the 2019 Presidential Election, Alh. Atiku Abubakar. A dissection of two of his press release made since the first case of the novel virus was discovered in Nigeria has shown that he was more patriotic and solution oriented than the average Nigerian opposition figure that he represented.

In the first release made available on February 28, 2020, a day after the index case was discovered, Atiku charged the APC-led government to call upon the experience of the nation’s battle with the wild Ebola Virus. He said “we must call upon our experience with the Wild Ebola Virus of which we were the first nation in the world to defeat the scourge in 2014.” He went further to advise against any attempt to blame and point fingers. He urged Nigeria to look for solutions rather than engage in a blame game. He preached firm and decisive  decisions as the country moved to curtail the scourge then. He waxed patriotic as he charged both individuals and government to work towards securing the nation from the rampaging virus. He concluded that “ the crisis is an opportunity to show that we are first and foremost Nigerians and that we have no other country but our dear fatherland, which we must work together to keep healthy and secure.”

The strategic importance of his statement was underscored by his party’s release few days after his own. On March 1, 2020, the main opposition party had called out the President Muhammadu Buhari-led administration asking him to address the nation on efforts made to contain the virus. Nigerians berated the party for its unpatriotic stance on the issue despite noticeable successful attempts displayed by the government and its health institutions. The effort has yielded the present result where no single case of the virus is recorded in the country despite the high numbers of infections and deaths recorded  globally.

So, in another release made available to press men and personally signed by him, he has again urged the Federal Government to take every reasonable step to protect Nigerians from the scourge of Coronavirus by topping flights from countries where the virus has become more aggressive. He noted  that “Despite the commendable efforts of our patriotic health officials, it will be recalled that to date, we are yet to identify and or locate multiple passengers who flew in with the index case from Italy. They could be anywhere.” He then suggested that Nigeria “must, therefore, err on the side of caution”. He argued that “we cannot afford to broaden the possibility of future infections.”

Atiku then played a patriotic card when he said “I urge that every political and any other difference be put aside. On my part, I am first a Nigerian, and I am willing and ready to work with anybody, at anytime, at whatever cost, to ensure the safety of this country, which is the only country we have to call our home, and her peoples.” The strategic importance of this statement is glaring. The handlers of the former vice president portrayed him as a selfless national leader who is ready to make personal sacrifice for the nation to confront and conquer the new world health challenge. This shows a point of departure from his party’s stance on the way the COVID 19 issues  were handled by the APC government. In times like this, the nation desires a strong support and commitment from all stakeholders.