解讀：終止香港的“特殊地位”如何影響美國公司

Yahoo Finance on 23.5.2020 reported the following

Explainer: How ending Hong Kong's 'special status' could affect U.S. companies

Reuters Reuters 11 hours ago

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WASHINGTON (Reuters) - New Chinese national security restrictions imposed on Hong Kong could draw a U.S. revocation of the former British colony's "special status" under U.S. law, a move that would have far-reaching trade and investment implications.

 U.S. businesses oppose to any change in Washington's recognition of Hong Kong as a sufficiently autonomous city, where major U.S. companies enjoy access to China and Southeast Asia, and where bilateral trade flourishes across various parts of the economy, from wine to financial services.

 A new U.S. law requires the State Department to certify at least annually that Hong Kong, which experienced widespread protests last year over China's extradition plans, retains enough autonomy to justify favorable U.S. trading terms. President Donald Trump warned on Thursday that Washington could react "very strongly" to China's new restrictions.

 Here is a look at some of the consequences of a change in that status.

 CORPORATE HEADACHES

 A revocation of the special status would cause problems for the more than 1,300 American companies with business operations in Hong Kong, including nearly every major U.S. financial firm. The State Department said 85,000 U.S. citizens lived in Hong Kong in 2018.

Visa-free travel access to Hong Kong could revert to strict Chinese visa rules, impeding business travel and work visa approvals.

 As of 2018, the stock of U.S. foreign direct investment in Hong Kong stood at $82.5 billion (£67.76 billion), an increase of $1.2 billion that year, according to U.S. Commerce Department data. Hong Kong's investment in the United States rose $3.5 billion in 2018 to $16.9 billion.

 Hong Kong's autonomy, civil liberties, rule of law and access to China make it attractive to international companies, and a change in that status could push some U.S. firms into costly moves elsewhere in the region.

 "Numerous American companies invest in Hong Kong because of its special status, its geographic location and market-based economic system," the U.S.-China Business Council said in a statement. "Any change to this status quo would irreparably damage American global business interests."

 TRADE

 Some $67 billion in annual Hong Kong-U.S. trade of goods and services could be put at risk as Hong Kong would lose its preferential lower U.S. tariff rate.

 Hong Kong is treated separately from mainland China's more managed economy, and its exports to the United States are treated differently. Hong Kong has a zero tariff rate on imports of U.S. goods, which also could be at risk.

 Hong Kong was the source of the largest bilateral U.S. goods trade surplus last year, at $26.1 billion, based on U.S. Census Bureau data.

 According to Hong Kong's Trade and Industry Department, the former British colony in 2018 was the United States' third-largest export market for wine, its fourth-largest for beef and seventh-largest for all agricultural products.

 BROADER U.S.-CHINA RELATIONS

 A U.S. revocation of Hong Kong's special status would be viewed by Beijing as interfering with its sovereignty, and China has previously threatened to "take strong countermeasures."

 Eswar Prasad, a trade professor at Cornell University and a former head of the International Monetary Fund's China department, said Hong Kong is a "hot-button" economic and political issue for China, much like U.S. sanctions on Chinese telecoms giant Huawei Technologies Co Ltd.

 A precarious U.S.-China trade truce, already strained by Trump's anger at China over the coronavirus pandemic and a slow start to Beijing's purchases under the Phase 1 trade deal between the two countries could collapse into new tariffs and counter-sanctions, he said.

 The United States also maintains export control offices and academic exchanges in Hong Kong separate from mainland China.

 (Reporting by David Lawder; Editing by Paul Simao)

Translation

華盛頓（路透社）- 中國對香港實施的新國家安全限制可能會導至美國根據本國法律撤銷對前英國殖民地的“特殊地位”，此舉將對貿易和投資產生深遠影響。

 美國企業反對華盛頓更改承認香港是一個充分自治的城市。美國的主要公司在這裡享有進入中國和東南亞的通道，從葡萄酒到金融服務, 雙邊貿易在整個經濟的各個方面都蓬勃發展。

 美國的一項新法律要求美國國務院至少每年去證明香港, 在經歷去年中國引渡計劃上發生過廣泛抗議後, 仍然保留了足夠的自治權，可以享有美國有利的貿易條件。唐納德·特朗普總統週四警告說，華盛頓可能對中國的新安法限製,做出“非常強烈的反應”。

 以下是更改該狀態的一些後果。

 企業頭痛

撤銷特殊地位將對在香港經營業務的1300多家美國公司造成問題，其中幾乎包括所有主要的美國金融公司。美國國務院表示，2018年有85,000名美國公民在香港居住。

 赴香港免簽證旅行可能會轉換為嚴格的中國簽證規定，從而阻礙商務旅行和工作簽證的批准。

 根據美國商務部的數據，截至2018年，美國在香港的外國直接投資量為825億美元（677.6億英鎊），當年增加了12億美元。香港在美國的投資在2018年增加了35億美元，達到169億美元。

 香港的自治，公民自由，法治和進入中國的機會使其對國際公司具有吸引力，而這種地位的改變可能會促使在該地的一些美國公司進行遷離至該地區其他方的昂貴行動。

 美中貿易委員會在一份聲明中說：“許多美國公司因香港特殊的地位，地理位置和基於市場的經濟體制而在香港投資。” “改變這種現狀將無可挽回地損害美國的全球商業利益。”

 貿易

 因為香港將失去其優惠的較低的美國關稅稅率,美國與香港地區之间每年約670億美元商品和服務貿易可能會面臨風險。

 相比对有國家管控經濟的中國大陸, 香港是被分開對待，它對美國的出口待遇也有所區別。香港對美國商品的進口關稅稅率為零，這也可能會面臨風險。

 根據美國人口普查局的數據，香港是去年美國雙邊貿易順差最大的來源，為261億美元。

 根據香港貿易和工業部的數據，前英國殖民地是美國葡萄酒2018年的第三大出口市場，是牛肉的第四大市場和所有農產品的第七大出口市場。

 泛美中關係

 北京对美國撤回香港的特殊地位會視作干擾其主權，而中國之前曾威脅要“採取強有力的對策”。

在康奈爾大學（Cornell University）的貿易教授，亦是國際貨幣基金組織（IMF）中國部門前負責人埃斯瓦爾·普拉薩德（Eswar Prasad）表示，香港是中國的經濟和政治的“緊要關頭”問題，就像美國對中國電信巨頭華為技術有限公司的製裁一樣。 。

 他說，不穩定的中美貿易休戰已經因特朗普對中國冠狀病毒大流行的憤怒而变得緊張，亦因為兩國之間基於第一階段貿易協議而需要北京購買美國貨物的動行進行得緩慢，而可能會陷入新關稅和反制裁之中。

美國還在香港設有與中國大陸分開的出口管制辦公室和學術交流機構。

              So, the above report has listed out some of the trading relation between the US and Hong Kong. I think trading is an activity that benefits both parties.But in modern world history there were occasions that the appeals of trading benefits were ignored and became secondary. For example, financial benefits gave way to political interests and ideology during the Cold War which ended in 1989. For over 50 years, political interests came to the forefront among the major great powers and global trading had been hindered. It seems that the world is edging towards to another Cold War.

參議院將中國公司從美國證券交易所除名

Yahoo Finance on 22.5.2020 reported the following:

Senate moves to delist Chinese companies from US stock exchanges

 Ben Werschkul Thu, May 21 4:48 AM GMT+8

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The Senate passed a bill by unanimous consent on Wednesday to take on Chinese companies listed on U.S. exchanges.

The legislation would require the companies to submit to a range of stringent provisions to avoid being booted.

First, they must disclose whether they are owned or controlled by a foreign government. Second, and perhaps most intrusively, they would have to comply with audits from the Public Company Accounting Oversight Board (PCAOB) for three years in a row.

“We just want Chinese companies to play by the same rules as everybody else,” said Sen. Chris Van Hollen (D-MD) during an appearance on Yahoo Finance shortly after the bill passed (video above). “This is an important step forward for transparency,” he said.

Van Hollen has led the effort, known as the Holding Foreign Companies Accountable Act, along with Sen. John Kennedy (R-LA). A mix of other senators like Kevin Cramer of North Dakota, Bob Menendez of New Jersey and Marco Rubio of Florida are co-sponsors.

Currently, companies registered in China and Hong Kong are not subject to PCAOB audits.

A group known as the U.S.-China Economic and Security Review Commission has compiled a list of 156 Chinese companies that are currently listed on the biggest three U.S. stock exchanges. The list includes giants like Alibaba (BABA), Baidu (BIDU) and JD.com (JD).

Van Hollen says the legislation is “designed to protect investors” because the lack of transparency among Chinese companies “exposes American investors to unnecessary risks.”

“It’s asinine that we’re giving Chinese companies the opportunity to exploit hardworking Americans” added Senator Kennedy in a statement.

Washington itching to take on China

The bill’s fate is uncertain as it still needs to pass the House of Representatives and be signed into law by Trump, but it comes at a time when Washington appears more primed to take on China and Chinese institutions in the wake of their perceived mishandling of the coronavirus.

GOP lawmakers, including Senators Josh Hawley and Tom Cotton, have proposed a range of punishments for the country. From having China “pay back all nations impacted” to forgiving U.S. debt to sanctioning Chinese officials.

Washington officials are also in a tense standoff with Chinese telecommunications giant Huawei, including recent Commerce Department efforts to expand sanctions against the company.

White House economic adviser Larry Kudlow recently expressed support for some of the ideas in Kennedy and Van Hollen’s bill. In an interview Tuesday on Fox, the White House economic adviser pushed for more accountability from Chinese companies listed in U.S. markets. “We have to,” he said, “for investor protection and we have to for national security.”

Some Chinese companies “are operating against our own interests,” Kudlow said.

President Trump has also signaled a rethinking of U.S.-China relations overall. This week he even called into question the trade deal enacted with much fanfare in January, saying, “I feel differently now about that deal than I did three months ago,” adding “and we’ll see what all happens.”

Translation

參議院星期三一致通過一項法案，去抗衡在美國交易所上市的中國公司。

立法將要求公司遵守一系列嚴格的規定，以免被毫不客氣地被迫離開。

首先，他們必須披露自己是外國政府所有還是由外國政府控制。其次，也許是最具侵入性的是，他們必須連續三年遵守上市公司會計監督委員會（PCAOB）的審計。

法案通過後不久，參議員克里斯·範·霍倫（Chris Van Hollen）（D-MD）在出席雅虎財經視頻時說：“我們只希望中國公司遵守與其他所有人相同的規則（上述視頻）。他說又：“為了提高透明度這是重要的一步。”

範·霍倫（Van Hollen）與參議員約翰·肯尼迪（R-LA）共同領導了這項名為“持有外國公司責任法案”的工作。其他共同贊助參議員包括北達科他州的凱文·克萊默，新澤西州的鮑勃·梅嫩德斯和佛羅里達州的馬克羅·魯比奧。

目前，在中國和香港註冊的公司是不受PCAOB審核。

由美中經濟與安全審查委員會組成的組織編制了一份清單，列出了目前在美國三大證券交易所上市的156家中國公司，其中包括阿里巴巴（BABA），百度（BIDU）及京東 (JD）等巨頭。

範·霍倫（Van Hollen）說，這項立法“旨在保護投資者”，因為中國公司之間缺乏透明度“使美國投資者面臨不必要的風險。”

肯尼迪參議員在一份聲明中補充說：“我們給中國公司一個機會來剝削勤奮的美國人是愚蠢的。”

華盛頓渴望與中國抗衡

該法案的命運尚不確定，因為它仍然需要通過眾議院並由特朗普簽署成為法律，但在這時刻, 在意識到中國對冠狀病毒處理不當之後, 華盛頓似乎更準備好抗衡對中國和中國的機構。

共和黨議員，包括參議員喬什·霍利和湯姆·科頓，都對該國提出了一系列懲罰措施，包括需要中國“償還所有受影響的國家”到免去美國的債務, 及製裁中國官員。

華盛頓官員還與中國電信巨頭華為正處於緊張對峙狀態，其中包括美國商務部最近擴大對華製裁的努力。

白宮經濟顧問拉里·庫德洛（Larry Kudlow）最近表示支持肯尼迪和範霍倫法案中的一些想法。在周二接受福克斯(Fox) 採訪時，白宮經濟顧問要求在美國市場上市的中國公司承擔更多責任。他說：“為了保護投資者我們必須這樣，為了維護國家安全我們必須這樣。”

庫德洛說，一些中國公司“正在損害我們自己的利益”。

特朗普總統還暗示了對整體的美中關係重新思考。本週，他甚至對一月份大張旗鼓地簽署的貿易協議提出了質疑。他說：“我現在對這筆交易的感覺已與三個月前不同。” “我們將看看會發生什麼。”

 So, President Trump is going to rethink about the overall U.S.-China relations, and more tension might be expected.

My visit to Japan 2020 – Hiroshima (5)

On the 8^th March I received an e-mail from my air-line company saying that my air ticket to depart from Japan was cancelled due to Covid-19. It offered me two options: a) to wait in Hiroshima until early April hoping that the new virus in Japan would be over by then, or b) to get a refund. Obviously, I could not stay in Japan for such a long time. To say the least, my Airbnb accommodation booking would not allow me to do so as it would end on 15th. My only option was to buy an air-ticket in Japan by myself. The next day I tried to contact a local traveling agency in Hiroshima and found the JTB. To my astonishment JTB was a travel agent that only sold ANA airline tickets. The staff of JTB even said that ANA flight schedules to Hong Kong were very limited, probably due to the new virus in Japan. They recommended me to try another local travelling agent, the HIS.

I bought my air ticket from HIS

On the 9^th I visited the of office of HIS in Hiroshima to buy a single trip ticket from Japan to Hong Kong. I wanted to leave Japan as early as possible in order to avoid a quarantine in Hong Kong. Hong Kong Government had announced that very soon all incoming visitors to Hong Kong would be subjected to a 14-day quarantine. The staff in HIS was very helpful and suggested me to buy the Cathay Pacific air-ticket. I agreed and it took about 2 hours for me to finish the ticket buying process. My found that it was a new experience for the HST staff to receive a client like me. It was a rare case for a foreigner to buy a single trip ticket in such relatively small town like Hiroshima. The paper work was done very slowly. There were many reasons, for example, the staff had to spend some time to sort out how to position my first name and last name (as indicated in my passport) into my ticket buying documents which was designed for the Japanese clients. This air-ticket buying experience reminded my Japanese language learning experience in my university days.

I learned Japanese in the University of British Columbia (UBC). In the classroom in those days, often there were group learning scenarios in which students had to do role playing. The setting of one scenario was inside a travelling company and the students had to play the role of a customer or a staff. Students had to practice using Japanese vocabularies such as days, months, the city names, the means and purpose of traveling, and the payment amount and method etc. Now, in Hiroshima, all things came into live again and my memories came back to my mind.

At that moment, the Japanese government had already announced that the only airport opened to foreigners were Osaka and Tokyo. Although I wanted to fly back to Hong Kong from Hiroshima where I was staying, I had no choice but to pick Osaka as the departing airport. As such, I had to sort out my trip from Hiroshima to the Osaka International Airport.

One strange thing I noted was about the air ticket price, it could rise suddenly at any time because of the pandemic. The Cathay Pacific single trip air ticket that I bought was 64,000 yen before tax and 70, 100 including tax (about HK$ 6,000). Out of curiosity, I checked the price again the next day on the Internet, it had jumped to about 220,000 yen (about HK$18,000). That was unbelievable.

Bullet train time table from Hiroshima to New Osaka

My airplane would leave Osaka for Hong Kong on the 12^th at 6.00 pm. I chose the bullet-train as the means to travel from Hiroshima to Osaka. The average time taken for a bullet train would usually be from 1.30 hours to over two hours, depending how many stops it would make en-route. I picked the fastest one which made only three stops en-route and took 1 hour and 27 minutes. I noted that all the carriages of any one bullet-train had been designed into either reserved seat (指定席) carriage which was more expensive, and the non-reserved seat carriage (自由席) which was cheaper. So, tourists had to wait at the right spot at the platform for the carriage. The waiting spots were clearly marked on the platform floor.

New Osaka in early March

 I arrived at the new Osaka at noon and enjoyed my lunch in a local restaurant. Although new Osaka was a big city, I found that the average price of the food in the restaurants here were not more expensive compared to that in Hiroshima. After lunch I bought a ticket to travel from New Osaka to the Osaka international airport. I returned to Hong Kong after flying for about 4 hours.

My train ticket from New Osaka to the International Airport

The bullet-train has a lot of leg room, big enough I put my luggage

My lunch at New Osaka. It costed me around 1,000 yen, a very reasonable price

Due the pandemic, my trip to Hiroshima was cut short by a few days. At this moment I am still waiting for a refund from my air-line company because they had cancelled my return trip air-ticket.

US Secretary of State Pompeo accuses Hong Kong version of National Security Act - "The bell of death"

Recently CNN.co.jp reported the following:

ポンペオ米国務長官、香港版国家安全法の提案を非難　「死を告げる鐘」

2020.05.23 Sat posted at 13:00 JST

（ＣＮＮ） ポンペオ米国務長官は２２日、中国政府が香港版国家安全法の制定を全国人民代表大会（全人代、国会に相当）に提案したことについて、香港の自治に「死を告げる鐘」になると非難した。

ポンペオ氏は声明で、「中英連合声明と香港基本法の下で保証された香港の自治と自由を侵害するような決定を下せば、一国二制度と香港の地位に関するわれわれの評価に影響が及ぶことは避けられない」と述べた。

香港版国家安全法は扇動や国家分裂、中央政府の転覆を禁じる内容になるとみられている。今年の全人代で導入が決まる予定。

ポンペオ氏は中国政府に対し「破滅的な提案を再考し、国際的な義務を順守して、高度な自治と民主制度、市民の自由を尊重するよう強く求める」と要請。自治などの尊重は米国法上、香港の「特別な地位」を維持するうえで重要な判断材料だと指摘した。

新型コロナウイルスの世界的な流行が続くなか、米中間では言葉の応酬が激しさを増している。トランプ政権はこれまで、中国が初期段階での透明性の確保を怠ったと非難してきた。

香港は一国二制度の下、中国政府の管轄下にありながら一定の民主主義や市民的自由を保持する。米国との間でも通商上の特別な地位を有しており、中国本土には認められない一定の例外的措置が適用されている。

米国では昨年、香港の民主派デモを支持する「香港人権民主法」が議会を通過し、トランプ大統領の署名で成立した。同法の下、米国は香港の自治が維持されているか毎年検証して議会に報告する必要があり、自治が不十分と判断された場合、香港は特別な地位を失う可能性がある。

Translation

 (CNN) US Secretary of State Pompeo on the 22nd accused the proposal of the Chinese government to enact a Hong Kong version of the National Security Law at the National People's Congress (NPC, equivalent to the Diet), as it would become a "bell of death" on the autonomy of Hong Kong

In a statement, Pompeo said, "If you made a decision to violate Hong Kong's autonomy and freedom guaranteed under the Sino-British Joint Declaration and the Hong Kong Basic Law, unavoidably it will affect our assessment of the One-Country-Two-Systems and also Hong Kong’s status."

The Hong Kong version of the National Security Law was expected to prohibit incitement and state division, and the subversion of central government. The introduction would be decided in this year's NPC.

Pompeo requested the Chinese government to "rethink its catastrophic proposals, comply with international obligations, and strongly urging respects for a high level of autonomy and democratic system, and the freedom of the people." He pointed out that a respect for autonomy was an important factor in maintaining Hong Kong’s "special position” under US laws.

 In face of the current global epidemic of the new coronavirus, the exchange of words had  become more intense between the US and China, and the Trump administration had accused China of failing to ensure its transparency at an early stage.

Hong Kong held a certain degree of democracy and civil liberties under the jurisdiction of the Chinese government under the One-country-Two-systems. It also had a special trading position with the United States, allowed with certain exceptional measures not made available to mainland China.

In the United States last year its congress had passed the "Hong Kong Human Rights Democratic Law" which supported Hong Kong's democratic demonstrations that was signed by President Trump. Under the law, the United States had to annually verify whether Hong Kong's autonomy was maintained and report this to the congress. If it was determined that the autonomy was inadequate, Hong Kong might lose its special status.

              So, the USA is giving out a warning to China that Hong Kong’s special trading relationship with the United States could be lost if Hong Kong’s autonomy is eroded.

In France - Doctors detected new corona patient at the end of last year

Recently CNN.co.jp reported the following:

フランスで昨年末に新型コロナ患者　医師らが検出

2020.05.05 Tue posted at 13:20 JST

（ＣＮＮ） 仏パリの病院が昨年末に採取していた入院患者の検体から、新型コロナウイルスが新たに検出された。同国で最初の感染例が報告される数週間も前から、新型ウイルスが存在していたことになる。

パリ北郊のセーヌサンドニ県にある病院の集中治療専門医らが３日、抗菌薬の専門誌ＩＪＡＡに発表した。

同病院のチームは昨年１２月２日から今年１月１６日までの間にインフルエンザのような症状で入院し、最終的にインフルとは診断されなかった患者らについて、凍結保存されていた検体を調べた。

その結果、アルジェリア生まれの男性（４２）から採取していた検体で新型ウイルス陽性の反応が出た。

男性は長年フランスに住み、魚売りの仕事をしてきた。外国旅行は昨年８月にアルジェリアを訪れたのが最後で、中国に行ったこともなかった。男性の子どものうち１人も体調を崩していたという。

チームは、この患者に中国とのつながりや渡航歴がないことから、１２月末の時点でフランス国内に感染が広がっていたことがうかがえると指摘する。

同国の公式発表としては１月２４日、中国・武漢市への渡航歴がある２人の感染が報告されたのが初めてだった。

欧州で最大の被害が出たイタリアでも、１月３１日にローマで中国人観光客２人の感染が確認されたのが初の症例とされる。国内での感染例は２月末になって北部コドーニョで報告された。

新型ウイルス感染が最初に確認されるより前から感染者や死者が出ていたかどうかについては、米国でも同様の研究が始まっている。

Translation

(CNN) A new type of coronavirus was newly detected in the samples of inpatients collected by a hospital in Paris of France at the end of last year. The new virus had existed weeks before the first case was reported in the country.

Intensive care specialists from a hospital in the Seine-Saint-Denis in the northern suburbs of Paris announced this on the 3rd in IJAA, a magazine specialized in antibacterial drugs.

The team at the hospital had cryopreserved specimens of patients who were hospitalized with influenza-like symptoms between December 2nd and January 16th of this year and were finally not diagnosed with flu. Their frozen specimens were examined.

As a result, a positive reaction to the new virus was found in a sample collected from a male (42) born in Algeria.

The man had lived in France for many years and worked as a fish seller. His last visited was to Algeria last August, and had never been to China. It was said that a child of the man was also sick.

The team pointed out that the patient had no connection to China or travel history, suggesting that the infection had spread to France by the end of December.

The first official announcement by this country was on January 24th, two people who had traveled to Wuhan of China were reported infected.

Even in Italy, which suffered the most damage in Europe, the first case was confirmed when two Chinese tourists were infected in Rome on January 31st. The case of domestic infection was reported in northern Codogno at the end of February.

Similar studies had begun in the United States on whether infection or dead had happened before the first confirmation of the new virus infection.

              I am interested in knowing the infection path of Covid-19 from China to Europe and the US. It could become a very sensitive political issue in the future.

U.S. administration's “Warp Operation” aimed at early supply of vaccine, former executive of major pharmaceutical company appointed

Recently CNN.co.jp reported the following:

ワクチン早期供給を目指す米政権の「ワープ作戦」、製薬大手の元幹部を起用

2020.05.14 Thu posted at 12:49 JST

（ＣＮＮ） 新型コロナウイルス予防ワクチンの早期供給を目指すトランプ米大統領の「ワープ・スピード作戦」主導者として、英製薬大手グラクソ・スミスクライン（ＧＳＫ）のワクチン部門トップだったモンセフ・スラウイ氏が起用されることになった。ホワイトハウス高官が１３日に明らかにした。

スラウイ氏はワープ・スピード作戦の首席顧問に就任する。さらに、後方支援を統括する最高執行責任者（ＣＯＯ）としてギュスターブ・ペルナ陸軍大将が任命された。

ワープ・スピード作戦は、今後開発されるワクチンの製造と流通を加速させる目的で、トランプ大統領が２週間前に発表した。専門家は、ワクチン開発にはあと数カ月から数年かかるとの見通しを示している。

これまで同作戦は、アザー保健福祉長官とエスパー国防長官が統括してきた。両省庁とも引き続き作戦に関与する。

スラウイ氏はＧＳＫの世界研究開発事業責任者を経て、２０１５～１７年まで世界ワクチン事業部長を務め、乳児ロタウイルス胃腸炎や子宮頸（けい）がん、帯状疱疹（ほうしん）の予防ワクチン開発にかかわった。

米政権高官がＣＮＮに語ったところによると、ワープ・スピード作戦では今年１１月までに１億回分、１２月までに２億回分、来年１月までに３億回分のワクチン供給を目標とする（ただし実現は不可能かもしれない）。

トランプ政権のワクチン開発プロジェクトにかかわる専門家は、開発の重点を置くワクチンを１４種類に絞り込み、現在実験が行われている６～８種類のワクチンが実験の次の段階に入ることを期待する。

当局者は３～４種類のワクチンを最終実験段階に到達させて実用化したい意向だが、それができるかどうかは実験の進み具合や臨床実験の成否にかかっている。

Translation

(CNN) Moncef Slaoui, the head of the vaccine division of British pharmaceutical giant GlaxoSmithKline (GSK), had been appointed as the leader of US President Trump's "Operation Warp Speed ​" aiming for an early supply of a new coronavirus preventive vaccine. The White House official revealed this on the 13th.

Slaoui would become the Chief Advisor to Operation Warp Speed. In addition, General Gustave Perna was appointed as Chief Operating Officer (COO) to oversee logistics.

Operation Warp Speed ​​was announced two weeks ago by President Trump with the aim of accelerating the production and distribution of vaccines that could be developed in the future. Experts said that vaccine development might take from months to years to complete.

Up to this moment, the operation was supervised by Azar the Secretary of Health and Welfare and Esper the Secretary of Defense. Both ministries would continue to be involved in the operation.

Mr. Slaoui had been the Head of Global Research and Development Business of GSK, and had served as Director of the Global Vaccine Business Division from 2015 to 2017, involved in developing preventive vaccines for infant rota-virus gastroenteritis, cervical cancer, and herpes zoster.

  

A senior US administration official told CNN that the Operation Warp Speed would target at 100 million vaccine deliveries by November this year, 200 million by December and 300 million by January next year. (However, it may not be possible).

Experts involved in the vaccine development project of the Trump administration had narrowed down the development-focused vaccines to 14 types, and expected 6-8 types of vaccines currently being tested to enter the next stage of the experiment.

Officials wanted to bring three to four vaccines to the final experimental stage and put them into practical use, but whether or not they could do so depended on the progress of the experiments and the success or failure of clinical experiments.

              So, the US is spending a lot of resources trying to open up a new vaccine for Covid-19.

US Moderna: Promising results from new corona vaccine clinical trial - antibody found in test subject confirmed

Recently CNN.co.jp reported the following:

新型コロナワクチン臨床試験で有望な結果、被験者に抗体確認　米モデルナ

2020.05.19 Tue posted at 09:35 JST

（ＣＮＮ） 米国立衛生研究所（ＮＩＨ）と共同で新型コロナウイルス対策ワクチンの開発を進めている米バイオテクノロジー企業のモデルナは、初期の臨床試験で有望な結果が出ていることを明らかにした。

モデルナの最高医療責任者タル・ザクス氏はＣＮＮの取材に対し、早ければ来年１月にもワクチンを実用化できるかもしれないとの見通しを示した。

同社が実施している第１段階の臨床試験では、少数の被験者にワクチンを接種して安全性を見極め、免疫反応が引き起こされるかどうかを検証する。

結果はまだ同業の専門家による査読は受けておらず、医学誌にも発表されていない。

世界保健機関（ＷＨＯ）によると、新型コロナウイルスのワクチンはモデルナのほか、米国企業のファイザー、イノビオと、英オックスフォード大学、および中国の４社が開発を進めている。

モデルナは被験者数十人にワクチンを投与して、うち８人の抗体値を測定した。その結果、８人全員について、新型コロナウイルスに感染して回復した人と同程度かそれを上回る値の中和抗体ができていることが分かった。

中和抗体はウイルスに結合して、ウイルスが人の細胞を攻撃できないようにする。ザクス氏は、「こうした抗体や免疫反応が、実際にウイルスを遮断できることを我々は実証した」と話している。

実験段階で有望な結果が出たとしても、実世界で通用するかどうかはまだ分からない。米食品医薬品局（ＦＤＡ）は、モデルナが第２段階の臨床試験に入ることを承認。同社は７月から、第３段階の大規模臨床試験の開始を予定している。

Translation

(CNN) Moderna, a US biotechnology company working with the National Institutes of Health (NIH) to develop a new coronavirus vaccine, revealed promising results in its early clinical trials.

Moderna Chief Medical Officer Tal Zaks told CNN that the vaccine could be put into practical use as early as January next year.

A first-stage clinical trial conducted by the company would vaccinate a small number of subjects to determine safety and verify, and to see whether an immune response occurred.

The test results had not yet been peer-reviewed by peer experts and had not been published in medical journals.

According to the World Health Organization (WHO), a new coronavirus vaccine was being developed by Modelna, as well as by US companies such as Pfizer and Inovio, and also the Oxford University, and four companies in China.

Moderna administered the vaccine to dozens of subjects and measured the antibody levels in 8 of them. As a result, it was found that all eight people had neutralizing antibodies with the same or higher levels than those who recovered from a new coronavirus infection.

Neutralizing antibodies bound to the virus and prevent it from attacking human cells. Zaks said, "We have demonstrated that these antibodies and immune responses can actually block the virus."

Even if the experimental results showed promising results, it was still unclear if they could be used in the real world. The US Food and Drug Administration (FDA) had approved Moderna for Phase 2 clinical trials. The company planned to begin a third-stage large-scale clinical trial starting from July.

              So, globally many organizations are rushing to develop and test vaccines for the new coronavirus. These projects require a lot of funding, yet the reward will be huge in many respect, including fame and money.

中國冠狀病毒疫苗可在加拿大試驗, 製造

Yahoo News on 14.5.2020 reported the following

Chinese coronavirus vaccine could be tested, manufactured in Canada

Reuters Reuters Tue, May 12 11:33 PM GMT+8

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TORONTO (Reuters) - China's CanSino Biologics Inc, the company behind one of the few coronavirus vaccine candidates already in clinical trials, is collaborating with Canada's National Research Council to "pave the way" for future trials in Canada, the research council said on Tuesday.

The NRC said it would scale up a production process for CanSino's vaccine at a government facility in Montreal, and that CanSino was preparing a trial application for drug regulator Health Canada.

If CanSino's vaccine works, the collaboration could help ensure that Canadians have access to it. Local trial data could reassure Health Canada that the vaccine is safe, and local manufacturing could ensure some doses are at hand.

Asked whether the collaboration would make it possible for Health Canada to consider data gathered in China, NRC said that in general, data can be shared with the regulator's approval.

"Canadian clinical trials will expand on Chinese data and provide an enhanced understanding of the vaccine candidate's safety profile," the agency said.

A vaccine that protects people from the coronavirus could end the pandemic, but finding one that works and manufacturing enough doses is a huge challenge.

Relations between Canada and China have been strained since Canadian authorities arrested Huawei Chief Financial Officer Meng Wanzhou on Dec. 1, 2018 at the request of the United States. Her arrest infuriated the Chinese government, which subsequently detained two Canadian citizens - Michael Kovrig and Michael Spavor - on state security charges.

But in the midst of the pandemic, Canada has struggled to import protective equipment from the United States, turning in part to suppliers in China. A federal procurement website notes that Canada has "established on-the-ground support in China" to manage bulk purchases.

CanSino and the NRC have worked together since 2013, and the company's vaccine is produced using a cell line that was developed at the NRC, the agency said.

CanSino Chairman Xuefeng Yu worked in Canada from 1996 to 2009, according to the company's website, mainly for Sanofi.

Shares of Hong Kong-listed CanSino rose on April 26 after the company said Health Canada had agreed to meet to discuss a clinical trial application. [FWN2CD00V]

Separately on Tuesday, Canada promised C$600 million to replenish the GAVI vaccine alliance, to support routine vaccinations around the world. GAVI is also helping low-income countries respond to coronavirus outbreaks.

(Reporting by Allison Martell; Editing by Dan Grebler)

Translation

多倫多(路透社) - 研究委員會週二表示,中國CanSino生物製劑公司(CanSinoBiologicsInc.)正在與NRC (加拿大國家研究委員會) 合作,為未來在加拿大的試驗"鋪平道路"。

NRC表示, 將在蒙特利爾的一家政府設施擴大CanSino疫苗的生產流程, 而CanSino正在準備向加拿大衛生部藥物監管機構作試驗申請。

如果CanSino的疫苗有效,這種合作可以幫助確保加拿大人能夠獲得疫苗。當地試驗數據可以讓加拿大衛生部放心疫苗是安全的, 而在當地製造可以確保一些劑量可以在手中。

當被問及此次合作是否使加拿大衛生部能夠考慮在中國收集的數據時,NRC表示,一般來說, 共用數據可以經監管機構批准。

該機構表示:「加拿大的臨床試驗將擴大中國數據, 並提供對疫苗候選者安全狀況的深層瞭解。

保護人們免受冠狀病毒侵害的疫苗可以結束這一大流行,但找到一種有功效並能製造出足夠劑量的疫苗是一個巨大的挑戰。

自2018年12月1日加拿大當局應美國要求逮捕華為首席財務官孟萬洲以來,加拿大和中國的關係一直處於緊張狀態。她的被捕激怒了中國政府, 中國政府隨後以國家安全罪名拘留了兩名加拿大公民——邁克爾·科弗裡格和邁克爾·斯帕沃爾。

但在大流行期間,加拿大一直努力從美國進口防護設備, 部分轉向中國的供應商。一家聯邦採購網站指出, 加拿大"在中國建立了實地支援", 以便管理大宗採購。

 該機構說CanSino和NRC自2013年以來一直合作, 該公司的疫苗生產是使用在NRC開發的細胞系。

根據公司網站, CanSino董事長余雪峰於1996年至2009年在加拿大主要為賽諾菲公司工作。

在該公司在表示加拿大衛生部已同意召開會議討論臨床試驗申請之后,在4月26日在香港上市的CanSino股價上漲。[FWN2CD00V]

另外,加拿大在周二承諾提供6億加元去補充全球疫苗和免疫聯盟(GAVI vaccine alliance), 用以支援世界各地的常規疫苗接種。該聯盟還幫助低收入國家應對冠狀病毒爆發。

              Based on the argument of the French, this vaccine should belong to all the people in the world and it is not something between Canada and China alone.

In emerging countries, constant outflow of funds: over 10 trillion yen in 100 days

Recently Nihon Keizai Shimbun Electronic Edition reported the following:

新興国、止まらぬ資金流出　100日で10兆円超

2020年5月3日 2:00 ［有料会員限定記事］

    

新興国からの資金流出がとまらない。4月末まで100日間に流出した域外マネーは約1000億ドル（約10.7兆円）に上り、流出ペースはリーマン・ショックの約4倍に達した。新型コロナウイルスの感染拡大で急速に進む財政悪化への不安が強まっているためだ。急速な通貨安で新興国のドル建て債務の負担はさらに増す。米日欧の中央銀行による大量資金供給で市場は落ち着きを取り戻したかに見えるが、新興国が新たな火種になりかねない。

国際金融協会（IIF）が、新型コロナの感染拡大が中国で本格化した1月20日を起点に、4月29日までの100日間の資金流出の累計額を算出したところ、1000億7000万ドルに達した。100日間の流出ペースを過去と比べると2008年のリーマン・ショック（約236億ドル）の4.2倍、15年の中国ショック（約95億ドル）の約11倍で、コロナ禍の衝撃の大きさを映している。

急速な資金流出は新興国通貨の相場急落を招いている。19年末比の対ドル相場の落ち込みが目立つのが約27%下げたブラジルレアルで、4月下旬に最安値を更新した。25%超下げた南アフリカランドや15%安のトルコリラも最安値圏だ。

  

背景には新興国の財政の持続性への懸念がある。コロナ禍による民間需要の落ち込みを埋める経済対策や医療の整備で財政支出は急速に膨らむ。マレーシアでは国内総生産（GDP）の18%に当たる対策を打ち出した。インドネシアは1997年のアジア通貨危機の再発を防ぐ目的で設けた財政規律ルールを一時的に棚上げした。

国際通貨基金（IMF）は新興国の20年の財政赤字がGDP比8.9%になると予測する。半年前の予測の1.8倍に急拡大した。インドネシアや南アフリカは同比率が過去最大に膨らむ。ブラジルなど産油国は原油安の打撃も重なる。

感染拡大がピークを越えた中国は通貨がひとまず安定しているが、通貨安に苦しむ新興国では感染はまだ拡大中だ。新興国全体の1日あたりの新規感染者は、4月初めの1万人超から下旬には一時約3.8万人まで急増。感染拡大に歯止めをかけられなければ、さらなる財政対応を迫られる。

米格付け大手S&Pグローバル・レーティングは1月以降、20カ国の信用格付けを下げた。中期的に格下げの懸念がある「格下げ予備軍」も15カ国に及ぶ。20年通年の格下げは、欧州債務危機で信用不安が広がった11年以来の多さになる可能性がある。

信用リスクに傷がつけば、債務返済への疑念が高まり、国債金利の上昇など悪循環に結びつく。エクアドルは原油価格急落で財政が行き詰まり事実上のデフォルト（債務不履行）に陥った。

記録的な水準に積み上がった新興国の借金は世界経済の先行きに暗い影を落とす。IIFによると政府・民間分あわせた負債は71兆ドルと過去最大で、GDPの2.2倍にも及ぶ。同比率はリーマン危機前の07年でも1.5倍弱だった。負債の1割程度はドル建てで、通貨安はドルで支払う利子や元本の負担を実質的に重くする。

「あらゆる範囲の手段を使う」。米連邦準備理事会（FRB）のパウエル議長は4月29日、追加の経済下支え策を検討する考えを示した。世界の中銀が必死に市場の火消しに動くものの、新興国が市場混乱の「第2波」を招くリスクは消えていない。（竹内弘文）

Translation

     

The outflow of funds from emerging countries was not stopping. The amount of foreign money that had flowed out in 100 days up to the end of April amounted to about 100 billion dollars (about 10.7 trillion yen), and the rate of outflow was about four times that of the Lehman shock. This was due to a growing concern over the rapid deterioration of financial status caused by the spread of the new coronavirus. The rapid depreciation of the currency might further increase the burden of dollar-denominated debt in emerging countries. It seemed that markets had regained their composure due to the large amount of funding provided by the respective central banks of the US, Japan, and Europe, but emerging countries could become a new spark.

The International Financial Institution (IIF) calculated the cumulative amount of funds outflow for 100 days, starting from January 20th when the spread of new corona infection in China began in earnest until April 29, had reached 100.70 billion dollars. Compared to the past, the 100-day outflow pace was 4.2 times that of the Lehman shock in 2008 (about $ 23.6 billion), and about 11 times the China shock in 2015 (about $ 9.5 billion). It reflected the magnitude of the impact of the Corona.

The rapid outflow of funds had led to a sharp drop in emerging market currencies. The Brazilian real, which saw a 27% decrease in prices against the US dollar compared to the end of 2019, was at the lowest in late April. South African rand, which had dropped more than 25%, together with Turkish lira, which was 15% cheaper, were also in the lowest range.

In the background, there was concern about the financial sustainability of emerging countries. Due to the coronavirus calamity, fiscal spending could expand rapidly due to economic measures for medical improvement and to help reduce a drop in private demands. Malaysia had put in place measures that accounted for 18% of its gross domestic product (GDP). Indonesia had temporarily shelved the fiscal discipline rules established to prevent the recurrence of the Asian currency crisis of 1997.

The International Monetary Fund (IMF) predicted that the 2020 budget deficit of emerging countries would be 8.9% of GDP. It expanded sharply to 1.8 times of the forecast made six months ago. In Indonesia and South Africa, the same ratio could expand to a record high. Oil-producing countries such as Brazil could be hit by a fall in crude oil prices.

In China where the spread of infection had passed its peak, the currency was stable for the time being. But in emerging countries that were suffering from a weak currency, infection was still expanding. The number of new infections per day in all emerging countries had surged from more than 10,000 at the beginning of April to about 38 thousand at the last ten days of the month. If the spread of the infection could not be stopped, further financial measures would have to be taken.

US rating giant S & P Global Ratings had lowered the credit ratings of 20 countries since January. The countries that had concerns about downgrades in the medium term, i.e. the “downgrade reserve army” also had reached 15 in number. For the full-year 2020 downgrade, it could be as big as 2011 when credit instability spread due to the European debt crisis.

If credit risk was hurting, doubts about debt repayment could increase, leading to a vicious cycle such as rising interest rates on government bonds. In Ecuador, the oil price plunged and the fiscal stalemate  had resulted in a de facto default.

Emerging countries' debt, which had reached record levels, was casting a shadow over the outlook for the world economy. According to the IIF, the combined debt of governments and the private sectors was the highest ever at $ 71 trillion, which was 2.2 times the GDP. The ratio was slightly under 1.5 times of that in 2007 before the Lehman crisis. About 10% of debt was denominated in dollars, and a weak currency would make the interest and principal payment burden substantially heavy in dollars.

"To use all the means." Federal Reserve Chairman Powell announced on April 29 that he would consider additional economic backing. Although the central banks of the world were desperately trying to put out the fire in the markets, the risk of the emerging economies might invite a "second wave" of market turmoil remained. 

              So, the outflow of funds from emerging countries could be a source of global financial trouble. Will the world bank or other similar financial organizations give out a helping hand to these countries?