China Last Week – Coronavirus Update & Tips For Getting Through Quarantine
Hi, I’m Joe Dube. Welcome to China Last Week. This is our second week of doing our part to slow the spread of the global coronavirus pandemic by working from home, practicing social distancing, while keeping you informed about China’s capital markets.
Last week, the U.S. markets dropped dramatically. The S&P 500 experienced its worst 1 to 2-week decline since the 2008 financial crisis and is down over 24% for the month of March so far. Over the same period, the MSCI China A Index dropped by 12% due to Mainland investors’ fears of a global slowdown. By comparison, China’s declines were light due to positive developments on the home front. At the time of recording, there has only been one new case of domestic transmission within Wuhan and 0 cases within Hubei Province and the rest of China.
In a sign of great improvement, Apple has now reopened all 42 stores in China, making China the only country in the world where Apple stores are currently open. With the situation improving at home, many Chinese people are looking for ways they can help the rest of the world. In fact, when reports came out that the outbreak had spread to New York, our Chinese partner, Bosera Asset Management, shipped us 1,000 masks from China. We subsequently donated those masks to Elmhurst Hospital here in Queens. We recommend that anyone with extra protective gear or medical supplies reach out to their local hospital to find out how to donate.
Now I turn to my colleague Xiabing Su, who joins me today virtually. Xiabing checked in with some of her friends and family back in China to get their most helpful tips for Americans to survive life during quarantine. Over to you Xiabing!
Hey Joe! Happy 2nd week of work from home! Honestly, I’m working harder and longer, since there are only a few things to do at home and I only go out to stock up on food. I’m still trying to find the right balance for my new quarantine life. In order to get some advice on what to do I asked some of my friends and family in China to share their experience and tips for quarantine life, including how to pass the time as well as the first thing they did after China lifted its quarantine restrictions.
There will be 3 guest speakers in our video. The first is my graduate friend, Yumeng. She just came back from NYC to Shenzhen last year. The second is my father’s best friend, Yang Yong. They have known each other over 30 years. He is currently in Hainan. The last is my beloved grandma, she is 85 years old, and she finished this interview alone. Now let’s hear what they say.
Guest speaker 1: Yumeng, Ghuangzhou Shenzhen
Hello, this is Yumeng, here in Shenzhen China. Thanks for inviting me to do this little video, and I’ll share with you guys my life during quarantine. I want to give you guys a couple of survival tips that helped me to go through this very hard time. First of all, find yourself very interesting stuff to do. Get some board game, get your PlayStation and Xbox. Also, do some stuff that you never had time to do it. You really want to do/learn something you didn’t have time, just do it right now, it’s the perfect time. I picked up my brush, I do some Chinese calligraphy. I trained myself to do calligraphy when I was young, but I really don’t have that much time to keep doing it since I grew up. But this is a great moment for me to pick up my brush again, do some calligraphy. Stay safe, stay healthy, stay positive during quarantine. We can beat this! Goodbye!
Guest speaker 2: Yang Yong, Haikou, Hainan
Quarantine is very boring for me since I get used to the busy work and life. However, in the face of the grim reality of the spread of the disease, we must find ways to enrich our life at home and go through this difficult period. I didn’t have too much time spending with my family before. Now that I have so much time, I choose to cook at home. For me it is also a way to express my love for my family. There are many ways to cook one dish in Chinese cuisine. I tried different methods every day. I‘m proud that my family could eat better and my cooking was improving. Days could pass very quickly and happily. The first thing I did after the quarantine is to ask a few old friends to eat Lanzhou beef noodles – one of the most delicious noodles in China. It seems that the virus can speak different languages all over the world and spread everywhere. I hope friends and families in the States can be patient and keep the virus out of your door. Hang in there America!
Guest speaker 3:Baijie Li, Tianshui, Gansu
This year, the Spring Festival that everyone looked forward to was actually not good at all. Why? Because the coronavirus broke out from Wuhan and it spread to the whole country. Everyone needed to stay at home. I was not used to it at first and felt very depressed. However, I persuaded myself and carried on quarantine. I read two novels… This is my honor/credit. I also transcribed traditional Chinese poems and poems from Chairman Mao. After that, I read them out loud and tried to memorize. I also play the piano every day. Then I realized time can pass quickly!
Thanks for sharing these tips Xiabing! It’s always reassuring to hear from people who just went through a similar experience. Remember, tune in for the latest update and insights on China. For China Last Week, I’m Joe Dube. Thank you!