At a time when the global financial crisis still ravages the world economy, the outbreak of influenza A/H1N1 further adds to the economic woes of a number of countries and regions. How to jointly control the epidemic and reduce its impact on the world economy is another challenge facing the international community.
It is an urgent task to cope with the flu to serve the world economy in an overall and efficient manner. Since it struck Mexico in mid-April, the epidemic has inflicted prominent fluctuations on the world's main stock and foreign exchange markets as well as staple commodities like petroleum.
The shock wave can also be felt in some countries' real economic sectors like tourism, food and transportation. The world economy is bound to face more grave challenges as long as the flu remains unchecked.
In coping with flu epidemics to protect the world economy, mankind has both experience and lessons. Historically, we see that the world economy could be badly wrecked by not only problems like financial and economic crises but also diseases, wars and environmental deterioration.
The spread of diseases can use up tremendous medical resources and result in the contraction of production and economic circulation. Therefore, it is economically significant to effectively put influenza A/H1N1 under control.
Specific measures should be taken to tackle the epidemic. First, the international community should conduct effective cooperation to boost public confidence. Only when they have strong confidence would investors and consumers expand investment and consumption to promote economic growth. Confidence is needed in fighting both the financial crisis and the current flu epidemic.
Second, we should handle the flu in a scientific and proper manner to minimize its impact on international investment. Although the flu has produced negative impact on the world economy as Joaquin Almunia, commissioner for economic and monetary affairs of the European Commission, has said, the international community has accumulated richer knowledge and expertise in preventing and controlling viruses than before.
In addition, governments have better capabilities in organizing and mobilizing social resources to deal with epidemics, making them possible to take scientific, appropriate and farsighted measures to tackle the flu, which in turn benefits the stability and development of the economy.
With the spread of influenza A/H1N1, the world must also be alert to protectionism which may arise under the pretext of safeguarding public health security, since the flu may stir worries over the safety of products from some virus-hit countries. Necessary restrictive trade measures should be based upon adequate medical proof.
To tackle the current financial crisis, the international community has agreed to jointly overcome the hard times, which is in sharp contrast to what happened in the Great Depression when some countries implemented extreme selfish policies.
As long as countries continue to boost confidence and cooperation, people are bound to see the light at the end of the tunnel soon in both efforts to fight influenza A/H1N1 and secure economic recovery.
(Xinhua News Agency May 4, 2009)
