Sars And Its Effects On The Asian Economy
The SARS epidemic has all but paralyzed much of the Asian economy by threatening the health of all traders, buyers, and sellers that come in contact with that part of the world or anyone who has been there. The Asian continent has literally been cut off and quarantined from the rest of the world. This epidemic should prove to be a major headache for every decision-making, top-management official whose company is based in Asia.
Li & Fung, one of the worlds largest garment traders, has been around for almost one hundred years and has survived through wars, riots, financial panics, and far worse epidemics than SARS. Due to SARS they are now being forced to rethink the way they do business to soften the financial blow as much as possible. They have moved half of their top-management teams to the U.S. and Europe to continue to conduct business with clients who are too frighten to travel to Asia in fear of coming in contact with the air-borne epidemic. They have also divided their work among several Chinese factories in case one of them has to be shut down. But that?s the thing, Li & Fung
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