A reeling consumers panicking everyone is under suspicion all countries are in lockdown at the borders officials change peoples temperatures and struggle to keep the virus out fear is contagious work is under quarantine containing the disease is a tremendous challenge in our highly networked world. Going viral will a new type of Infectious Disease dramatically change the way we do business. Its globalization allowed. To spread around the planet at such incredible speed but now the whole concept of globalization itself is ailing the outbreak has brought Global Supply chains to a standstill including the most important one during a pandemic medical supplies and pharmaceuticals a serious example illustrating just how dependent the entire world has become on just one economy by far the biggest player in the Global Supply chain china and now countries around the world are concerned about shortages and. This pharmaceutical wholesaler currently has 130000 different medications stored in its warehouses it supplies pharmacies across germany. So what about. The main concern is that many pharmaceutical products and active ingredients are produced in asia what that means is becoming clear right now during the current pandemic. Germany only produces a few products of its own its the same throughout europe you know right now production standstill in china means that a number of active ingredients are not being produced. He reckons that could be felt in germany within a few months. This is a disadvantage of globalization globalization has many benefits but this is a classic drawback when you have different kinds of governments with different interests and its possible that a country could find itself in a position of power and not use the power sensibly its one of the political risks of globalization of. Gemini gets most of its medications from india and china. Antibiotics 90 percent of the critical ingredients for all antibiotics worldwide now come from the 2 countries. Indian pharmaceutical Companies Like here in. The north of the country have become important players in the production of generic medications the low labor costs mean they can produce inexpensive drugs but most firms including side tech medicare rely heavily on supplies from china for their production. Of china stops exporting key ingredients to india 80 to 90 percent of indias Pharma Companies are closed and patients will die. Most of the active ingredients for its products from china because production costs are lower there. In fact most of the active substances found in medicines used around the world come from mega factories in northern china. How have we reached such extreme dependency especially with something as essential as medications. Most importantly weve had discount agreements for at least the last 10 or even 13 years. That means that Health InsuranceCompanies Sign contracts with producers in which they agree prices the result has been far Lower Prices Health insurers have been putting themselves on the back for this for years however its becoming obvious that goods are no longer being supplied to germany in sufficient quantities. Production resulting from the coronavirus pandemic means that fewer active pharmaceutical being sent to india as a result india has curbed its own exports of 26 different drugs including some antibiotics the government in delhi wants to ensure that it has sufficient supplies of such medicines for the indian population. That could soon. Being exported to germany. The pressure is growing for germany to become more selfsufficient. The politicians have started to realize that too but because weve grown used to low prices i cant imagine how well be able to produce medications here again without having to pay through the nose for them. But. It would take years to get european production running on full capacity again and doing so would mean a sharp hike in drug prices. A lot of lists expect higher prices for many products but that doesnt mean we need to panic i mean how much toilet paper doesnt a straight in household really need you germans out there what are you going to do with all that flour weve all got friends workmates or Delivery Services that can help us out if we get forced to stay home for weeks so is this simply a case of herd mentality or swarm stupidity or am i going to end up being the one who looks stupid when i realize that everyone else got in 1st. All over the word everyone is worrying about a virus and when i look online it makes my head spin. Everywhere you look people are hoarding supplies whether in hong kong sydney. On new york at airports medical checks travel restrictions. Panic is on the rise here in berlin events cancelled jobs lost colleagues. Think i need to get out of the city. And in addition to the medical emergency theres the impact on the World Economy. Is getting alternately the question is how profound will this crisis be and that depends on how quickly we get this epidemic medically under control in question this crisis demonstrates the extent to which globalization has taken hold everything is connected to Everything Else somehow the world has become a village so the virus far away in china suddenly is very close instead of acting globally people and countries are retreating into localism and keeping a distance from one another and one particular human instinct is aggravating the crisis behavior when i hear about empty supermarket shelves i panic myself. But. Why is that yeah this is for the problem is that for each individual it makes sense to follow the herd to follow the panic so. Its like the run we know from banking or before if people think a bank is going bust theyll run to it because the 1st ones there will get their money back. One goes ahead and the rest of the herd follows that can raise the chance of survival for groups of animals but that can make life tough for shareholders. We tend to follow other peoples lead and even on Financial Markets we often react more emotionally than rationally like other animals we humans feel safer in a crowd. When panic breaks out spreads like wildfire and the Financial Markets break down and theres a run if people are scared that share prices will keep dropping so they keep selling then we could see destabilization that would deepen the crisis then Central Banks should push back and say calm down will lower Interest Rates will make money available shares wont fall that far. Then some people will calm down and decide they dont have to sell. Central banks and governments worldwide are announcing economic programs to mitigate the effects of the pandemic. And then panicking wont help anyone. For years now 2 well known german economists and mathias 5 have been warning about the next big crash not just an economic one but also a political and social crisis many of us suspected it was overdue after an historically lone bull Market Correction was surely coming but this has turned into a crash and were now deep into bear market territory so were the 2 german forecasters right about the unprecedented challenges to the Global Financial order or were they just banking on alfie is and the inevitable my colleague pacelli has met up with them. A state of emergency on Global Stock Markets its a looming catastrophe that could end up worse than the stock market crash of 929 thats according to bestselling authors and economists. Its its its over it cant do anything its a natural law its. So much money they wont stop the crisis its happening. Or youll prices have collapsed by a 3rd today or lowest level in 30 years kicked off by the coronavirus all over the World Markets forming. Their latest book is called the biggest crash of all time. They have predicted to crash many times but now they feel they have prophecy has been fulfilled. Right now we have too much debt the debt of the world is 255. 00 trillion dollars this is 322 percent of g. D. P. And in 2008 with the big financial crisis we couldnt solve the problems just put money into the system more money and we know what the Interest Rates now historic low rates and never more money in the system which just bought expensive time but we couldnt find a solution in the system within the system its done its rotten to the core and it will collapse we shouldnt forget the last course for the crisis was too much money and too low Interest Rates and now we have lower Interest Rates even more weve mentioned if Interest Rates and we print endless amounts of money and we gain some time but well never ever solve the problem you know at the coronavirus make today and now that says factories small firms and shops all face major slumps and not just in europe. We see them like the economic implications another example germany germany. Produce i think for a factory worker for the folks who are going to roll missy dispence get see what will happen if they have to close to entire factory what will be the economic implications of that in china about 2300000000 people in parenting and in lockdown it to the whole italy the whole country is in lockdown mode its actually you cant imagine what kind of implications the test on the supply chains on the production chains and this will be the 1st and 2nd quarter will be at the sauce that the recession was on the way to us anyhow the current uprising is just the trigger for the next crisis its a crisis weve never seen the 2 economists not just bestselling authors they also work as Investment Advisors they design be spoke Investment Funds for concerned investors or readers of bad books. Its time to invest in limited sets like gold gold is limited for nature or silver or real estate or for a forest or cotton for example there are critics who say you operate a double standards on the other one side you make people afraid of the World Economy prices on the other you say we have to use we have the tools to prevent the crisis my old products we dont make them afraid were. Realistic we need supplies you have to be you have to have stocks at home you know like food pasta everything we wrote in the book like 6 months ago and now we see its happening after the World Economy crashed the financial world Financial System you read both democratic fare and not creating the next monetary system. With gold for example and we will see different totally different Banking System many banks will fail. Now africa has been spared by the sickness it was just a matter of time considering the at the center of the outbreak was china and theres so much travel and trade going on between the 2 these days china invests in africa to help meet its world materials needs and many african economies have become reliant on china for imports beijing is the key backer of some of the worlds biggest Infrastructure Projects in africa hes an reporter she pointed to. Whether that arafat really knowledgeable i was so i was in europe and it was such a journey to come back to south africa actually because thats had already paris people a penny a you know people station a person that got paranoid that feature molly the chinese video blogger based in johannesburg satanical stereotypes about africans and chinese in have video shes been telling me about the situation on the ground. Usually had on our wall of. Visitors i lately as really quiet now you readily see people around also ahead of time visitor and also you also get a business resident. What about if you are a hairdresser is are you going to look at people. Estimated there are more than 1000000 chinese nationals living in africa and meanwhile china has become a leading destination for students. More than 80000 africans study there. Has been student who was only willing to speak anonymously left china a month ago with the help of his parents. Want to argue or ill write my purpose or was it is it. Ok whatever. I do with it i just have to deliver to terms that if im through i have had the symptoms of openness about whats. The link to the current of hers and i want what tells me he wasnt parenti and in zambia like you would have been in china. To see if a child was. Because of. This and they have i know its there but i think im more safer. That way that sounds a bit contradictory but i guess one is a fact and one is that it now while people may be able to rely on their feelings and perhaps even escape the crisis the situation is much trickier for businesses. China is currently africas largest trading partner over the past 2 decades the 2 way trade between africa and china has been growing exponentially in the morning to Chinas Ministry of commerce it reached 204000000000. 00 in 2018 but its looking like things might slow down. Thats already the case in the construction sector. Chinese companies are involved in half of the ongoing major Road Construction projects in uganda who still work on this tolling. We had a few project managers travel to china to celebrate the new year the chinese new year. They did not get back in time and saw off of us quite a bit but only that month our weve also been affected by the influx of sudden materials that are used in this project because they too are couple of uganda isnt alone several african countries are affected including africas most populous country nigeria work on a rail segment linking the economic hub of lagos and the Northern City of kano has been delayed because of the outbreak and the projects financing could also be affected. I am not a man but all that. And im not back yet ladies and. Hong on but we will that not. Go back to the shops im just sounds a little girl really are a little only getting on and. Any. Have a good day thank you. Now after speaking with a maka morning in south africa and examine student what really intrigues me is the fact of the zambian student decided to go back to zambia which doesnt have a very Good Health Care system compared to chinas for businesses though there is no escaping the corona Virus Outbreak or its effect especially if they have strong ties to china. Now that globalization has suffered a setback what will happen is the coronavirus takes a toll on economies where we go local that would mean a huge drop in transportation costs and emissions reese pictures of the air above china showed how to months without production help clear the skies and mobile happen to the way we work in a world thats so digitally connected i prepared my part of the show from how. The new virus is spreading rapidly around the world is it time to rethink globalization people move from country to country to travel and work now thats led to stop shortages production stops and shaky supply chains what does this mean for the future one scenario suggests we could return to thinking locally. That could mean essential goods and medications being produced on domestic soil again ensuring sufficient supplies for the local population. It would make nations more selfsufficient and with shorter transport distances it could end up being better for the climate too. But it would mean radical changes to production structures among other effects that could result in higher prices in industrial countries and fewer commissions for emerging economies. A 2nd scenario could see globalization accelerating with the help of tele migration. This involves People Living in one country and working virtually in others using telepresence technologies these are constantly improving thanks to ever speedier data transmission. A technician in one country could repair a machine and another by virtual means such virtual use of skills would have the advantage of reducing the spread of diseases across the planet. However it would also put all service employees. To graphic designers in competition with each other worldwide. Whether we end up with more or less globalization the new coronavirus has certainly changed how we view our interconnected world. It has it just be nice to see a little bit more solidarity during this crisis less fighting over toilet paper in supermarket aisles and no cooperation remembering that if you end up pointlessly hoarding a whole lot of stuff at home someone else is probably missing out equally pooling resources is often a good strategy for companies thats especially true for Research Development and in finding Innovative Tech Solutions to some of todays biggest problems. And i love my job. And about different cultures and working methods different social classes and mentalities we bring everything together on one platform. To coordinate collaboration among 150 scientists from 3 universities and between Research Groups from different fields of study as well as between researches and industry. The Innovation Lab in heidelberg does research into areas that have commercial potential. Thats its my job yeah i thought its my job to make the scientists aware of gaps in the market stead of doing research thats not relevant to the market they examine what people need mean things that end consumers can later use. Production takes place next to the laboratory and involves 3 major companies. One of them is hyderabad took. The Company Faces a major problem its printing machines are optimized for paper but demand for newspapers and books is on the decline. It means to find a new gross market like Digital Printing instead of newspapers in the future the machinery will print senses is that a nation or a business of the future. Of ice age to understand the foresight and a little imagination new technologies tend to be hyped in the beginning but it takes a bit longer for them to really come to life the collaboration with the universities is very good for you we understand each other specific interests and so far that has always gone smoothly and i thought this here item about. How much has he already invested id rather not say. The cooperation at Innovation Lab has been more expensive and more difficult than originally anticipated the old posses well you know we have different cultures time doesnt play a role as university if i need to 5 or 10 years to develop something that doesnt matter to me as a Public Servant its problem to just kind of want to you can listen to this my god its clearly a balancing act on the one hand we have tax listed companies as stakeholders in the on the other hand universities arent profit oriented it doesnt really exist by god thats my balancing act i have to reconcile the interests of both sides. But he believes the collaboration has put them far ahead in the Global Research race Digital Printing is ready to be launched on the market the next step is to find a market and customers. The Automotive Industry in his homeland of vietnam has shown interest could the sensors be used in car seats asian rivals are intrigued by the new technology. That were proud to have found a technology that we produce in germany an expensive location a technology that we deliver to the entire world. Through so we have a lot of inquiries from china asking to visit our companies. If there is no intention to do business with us then we say no right away. When doesnt want to reveal how much the product costs the price is negotiable but he will say that the digital sensors are much less expensive than conventional systems. And we end the show with some cautious optimism the latest data on the slowing down of new cases in china gives grounds for hope Chinese State media has been celebrating the trend if the numbers are accurate they give hope that strict measures being posed around the world will manage to contain the virus so ive done my bit of the studio back home now into self quarantine im not sick its just theres a lot of us involved in putting together such a show and the less direct contact with one another the better for all of us up to see you again soon here all night. To feel comfort so far from this is to respect the mood of the whole nigerias government stands accused by the International Community of serious human rights abuses i guess this week here in london is lima how many countries in from a ship minister how does he defend against the countrys many critics when the evidence of wrongdoing is so compelling like so for me to leave the food. To europes goulds are closing. In italy lessons have been taking place at home for several weeks now because the internet drastic measures exceptionally talented in times for teachers and students. Become much when students learn during this time of the corona the. Focus on europe. The 90 minutes on the d w. To. The global corona crisis you can find more Information Online at e. W. Dot com and on t. W. Social media channels. Is the shaman race destroying itself. We are ruining the basic elements of our lives good morning using too much water and were polluted water is life. Going to move and go for supplies will last forever but they wont. Come when the rain stops starts march 20th on t. W. How does the virus spread. Why do we panic and when will all this. Just 3 of the topics covered and the weekly radio. Show is called spectrum if you would like any information on the krona laroche or any other science topic you should really check out our podcast so you can get it wherever you get your podcast you can also find us at d. F. W. Dot com look for it slash science. This is d w news live from italy reports the highest a single day death toll of any country since the corona Virus Outbreak began a grim picture emerges from bad government or hospital more of star overwhelmed than the army has to carry away the death. Of the german army prepares to join the fight against the virus after chancellor Angela Merkel appeals for solidarity to the situation is serious take it seriously since german unification in no sense