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The latest Chinese virus


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23 minutes ago, les186 said:

My father used to tell me I'd never achieve anything. Now look at me....saving the world.

 

 

andy capp.jpg

At least Flo left his tea on the arm of the setee for him when he decides to exercise?

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1 hour ago, Bill said:

Where is the optimism coming from? Pound and London stockmarket both up again today? FTSE100 up 700 points in a week. Sterling up 4 cents.

I’m very tempted to liquidate and sit on the sidelines

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 I can't tell the difference?

 

 

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Emily Morgan                                                                    Bride of Frankenstein 

Edited by les186
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Quote

China bulk-bought medical supplies abroad before coronavirus crisis hit


Bernard Lagan, Sydney | Isambard Wilkinson, Madrid


Thursday March 26 2020, 12.00pm, The Times

Staff in the Australian offices of the Greenland Group were ordered to source and buy huge quantities of masks, hand sanitisers, gloves, thermometers and paracetamol and ship them to China


Staff in the Australian offices of the Greenland Group were ordered to source and buy huge quantities of masks, hand sanitisers, gloves, thermometers and paracetamol and ship them to China

As the coronavirus took hold in Wuhan in February, staff of a Chinese government-backed global property giant were ordered to buy up vast quantities of western medicines and medical equipment to send to China.

 

Sources within the company told the Sydney Morning Herald that it was an international endeavour by the Greenland Group to scour the world for bulk supplies of surgical masks, thermometers, antibacterial wipes, hand sanitisers, gloves and paracetamol for China’s health system.

 

According to a company newsletter, the Greenland Group’s overseas offices brought up three million protective masks, 700,000 hazmat suits and 500,000 pairs of protective gloves from “Australia, Canada, Turkey and other countries”.

 

The entire Sydney accounts department, contract managers, the human resources team and even receptionists were ordered to source supplies.

In a statement to the Herald, the Greenland Group confirmed the shipment of medical supplies in January and February saying that it “felt compelled . . . to assist in efforts to mitigate the spread of the virus, which had caused a shortage of crucial medical supplies in China”.

 

Greenland Australia said in a statement that it supported the group’s initiative “by arranging for medical supplies to be dispatched to China, which at that time was the epicentre of the outbreak”.

 

At that point in mid-February, Australia had only 15 known cases. It now has more than 2,800 cases, with 13 fatalities.

 

According to its website, the Greenland group says that it has been consistently listed by Fortune Magazine as one of the 500 largest companies in the world. The company claims that of its 23 ultra-high-rise projects under construction, four are among the world’s top ten tallest buildings.

 

Meanwhile, in Spain, rapid-testing kits for coronavirus bought by Madrid from China have been found to be unreliable.

 

Microbiology laboratories have reported that the government-acquired tests have an accuracy rate of 30 per cent when they should exceed 80 per cent, according to the newspaper El País .

 

The tests were carried out by several microbiology laboratories in large hospitals on kits recently arrived from China. “They do not detect positive cases as expected,” a medical source told the newspaper. Another said: “With that value it makes no sense to use these tests.”

 

It is not known how many of the tests, which were manufactured by the Chinese company Bioeasy, based in Shenzhen, were purchased by Spain. The government has ordered 5.5 million rapid tests but it is not known if they are all from the same Chinese manufacturer.

 

The health ministry confirmed the poor results and said that a specific consignment sent to the Madrid region had been withdrawn. It added that it had ordered the manufacturer to replace the tests.

 

The Chinese embassy in Spain replied through its official Twitter account that Spain had bought the rapid tests from a company that did not have an official licence. In addition, it claimed that Madrid ignored China’s list of recommendations from approved suppliers, which it said did not include Shenzhen Bioeasy Biotechnology.

 

Coronavirus tests currently used by microbiology laboratories in Spanish hospitals are based on a molecular technique called PCR (polymerase chain reaction). It is a time-consuming technique, requiring specific equipment and it takes up to four hours to obtain a result.

 

The rapid tests work in a similar way to those for pregnancy: the sample is deposited in a cartridge with a reactive strip which marks with lines whether the result is positive, negative or invalid. The tests detect the presence of antigens and the result is obtained in ten to 15 minutes.

https://www.thetimes.co.uk/edition/news/china-bulk-bought-medical-supplies-abroad-before-crisis-hit-556gj7gn3

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13 hours ago, Bill said:

Where is the optimism coming from? Pound and London stockmarket both up again today? FTSE100 up 700 points in a week. Sterling up 4 cents.

I don't understand it. There have been analysts coming out saying a lot of stocks are oversold but that doesn't explain the markets as a whole rising so much over the past week. I'm sticking by my gut feeling that they will fall further and this revival will be short lived because the economy is going to be ravaged by this and the vast majority of stocks were way overpriced before this hit.

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