Moneycontrol PRO
you are here: HomeNewsWorld

China virus could create US jobs: Commerce secretary

Ross said the virus, which has spread to at least 15 countries, was "very unfortunate" but that it was also a "risk factor" for businesses weighing up whether to operate in China.

January 31, 2020 / 08:59 AM IST

US Commerce Secretary Wilbur Ross said Thursday that the virus that has killed 170 people in China and sparked global health fears could help create jobs in America.

Ross said the virus, which has spread to at least 15 countries, was "very unfortunate" but that it was also a "risk factor" for businesses weighing up whether to operate in China.

"I don't want to talk about a victory lap over a very unfortunate, very malignant disease but the fact is, it does give businesses yet another thing to consider," he told the Fox Business TV channel.

"So I think it will help to accelerate the return of jobs to North America, some to (the) US, probably some to Mexico as well." His comments triggered immediate criticism on social media and from health experts.

"You have somebody of that stature who makes an irresponsible comment, speaking on matters in which he has no expertise," Georges Benjamin, of the American Public Health Association, told the Washington Post.


COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more

"There's no scientific or historical evidence to what he's saying." The World Health Organization was due to meet Thursday to decide whether to declare a global emergency over the disease, which is believed to have emerged from an animal market in the central Chinese city of Wuhan.

Many governments have urged their citizens not to visit China, while some have banned entry for travellers from Wuhan.

US President Donald Trump waged a bitter trade war for several years with China over jobs and subsidies, though he recently signed a "phase-one" deal to ease tensions.

Federal Reserve Chairman Jerome Powell has said the SARS-like coronavirus poses a risk to the world economy.

Toyota, IKEA, Starbucks, Tesla, McDonald's and tech giant Foxconn have been among corporate giants to temporarily freeze production or close large numbers of outlets in China.
first published: Jan 31, 2020 08:27 am
ISO 27001 - BSI Assurance Mark