News Update – Thursday, May 21, 2020

APCO Worldwide's Coronavirus Beat is a twice weekly publication on the impact of COVID-19 on businesses, economies, policy and culture, and how leaders are responding. The next newsletter will appear Thursday, May 28.

Have a comment about this newsletter? We welcome your feedback.

Business & Economic Impact

1. The pandemic is pushing corporate Japan to embrace new technology, forcing businesses to use digital signatures and boosting shares 22-fold for providers of the service, Bloomberg

2. Rolls-Royce plans to cut 9,000 jobs, more than a sixth of its workforce, in latest hit to the aviation industry dealt by the novel coronavirus pandemic, Reuters
3. A Cambridge study warns that the pandemic could cost the global economy $82 trillion over 5 years, with optimistic figures showing a $3.3 trillion economic loss, Business Insider

Global Policy

1. The World Bank warns the coronavirus pandemic is likely to cause the first increase in global poverty since 1998, CNN

2. France and Germany support a "green" recovery plan for the European Union, including a minimum price for carbon permits and climate targets for all economic sectors, Reuters
3. Prolonged economic recessions, tighter border restrictions and disruption of global supply chains are fallout risks according to a COVID-19 risks report, World Economic Forum

Control Measures

1. Greece will reopen to tourists on June 15 with direct flights starting from July, but all arrivals must undergo testing, The Guardian

2. Singapore will ease lockdown restrictions beginning June 1, allowing places of worship and businesses with low transmission risks to open, while recommending teleworking, CNA
3. Spain announced masks are mandatory in outdoor and indoor public spaces when social distancing is not possible, except for children under six and people with health issues, BBC

Worth Noting

1. Cambridge University becomes the first university to suspend all face-to-face lectures until 2021, setting a precedent for other colleges to follow social distancing requirements, CNBC

2. As COVID-19 cases increase in Brazil, Russia and the United States, fears of supply uncertainty appear to be driving recent buying activity of agricultural commodities, Forbes
3. A quarter of Americans have little interest in taking a coronavirus vaccine, with some concerned that the pace at which vaccine candidates are being developed could compromise safety, Reuters

Stay Ahead: Insights from APCO

How to Make Your Advertising Stand Out in the Crowded COVID-19 Pandemic Landscape

APCO's Amanda Loughran, associate director, and Mac Struthers, senior director, discuss three things to focus on as you build your advertising message:

"Much of the advertising messaging you see from brands sounds very similar, with brands often using overused phrases like “unprecedented times” and “we’re here for you.” Research demonstrates that it is critical for brands to use their advertising to amplify their COVID-19 efforts and solidify their role in the community.

According to AdWeek, consumers are more likely to engage with brands that are more purpose-driven and address the pandemic directly in their communications. Plus, media viewership online and on TV is skyrocketing meaning it is now easier and less costly for advertisers to reach their core audiences."

Three Areas That Will Define Health Technologies Moving Forward

In Diplomatic Courier, APCO's JJ Lee, Chief Client Officer, and Jack Kalvritinos, senior director, discuss three issues issues that will have the greatest impact on health tech:

"We are hearing debates across the public and private sectors on the management, sharing and ethical use of sensitive data in response to crisis and what changes today could mean for the long-term future of health systems.

For leaders facing a deluge of information in this space, it is helpful to prioritize which issues will most likely have critical impact to operations, care delivery, and reimbursement streams going forward."

Webinar: Protecting Individual Rights as Our Economic and Social Orders Are Restored

Watch the May 20 webinar APCO Worldwide hosted featuring a panel of experts from industry and civil society discussing the best practices for protecting individual rights as the COVID-19 pandemic restrictions loosen and economic and social orders begin being restored.

TURKEY: ECONOMIC IMPROVEMENT PLAN

APCO colleagues are sharing on-the-ground insights and analysis on the impact of COVID-19 in markets around the world. Today’s dispatch from APCO's Istanbul office discusses the Turkish government's plan to help businesses recover:

The Republic of Turkey introduced a comprehensive COVID-19 response plan in mid-March named “Stability Shield.” Given the specific nature of the Turkish unitary government, the plan’s implementation was more coordinated and centralized than in other countries. The government formulated the plan around several action points, most of which were designed to minimize the health impact on the general population while ring-fencing a threshold of productive activities. These action points saw increased financial support for small and mid-sized enterprises (SMEs), increased incentives for export businesses, as well as the identification of alternative global supply chain routes and the introduction of salary support schemes.

Following the Ministry of Health’s cautious yet optimistic statement that the pandemic was under control following steady signs of improvement, the Turkish government introduced a gradual re-opening plan beginning in early May. This re-opening plan aims to revitalize domestic commercial activity by lifting partial curfews and introducing strict sectoral regulations, and efforts to support sectors that can generate Turkey’s heavily dependent foreign exchange. Crucial sectors targeted for this revitalization include tourism and manufacturing in export-led industries, with a goal to position Turkey as a formidable competitor to China in Western markets, including the United States.

However, construction and retail, Turkey’s two crucial sectors for domestic economic growth will most likely need additional financial support. Turkey has also introduced two rounds of import tariff increases since initiating its first COVID-19 response plan, adding further challenges to import-oriented businesses. Looking ahead, the government must establish an effective economic policy that promotes growth while still protecting the import-dependent domestic manufacturing sector in Turkey's service- and demand-driven economy. The coming months will be critical for companies to convey their value to the Turkish economy and ensure that their voice resonates within the government’s dynamic policy-making process. It will be an opportunity to leverage support during the recovery phase or maintain their business, if not preventing further adverse effects on their business.

Some Positive News

Knighthood for fundraising: 100-year-old Veteran Tom Moore is being awarded a knighthood for raising more than GBP 32 million for NHS charities, BBC
Pandemic curbs global emissions: The COVID-19 crisis could cause the biggest percentage drop in global Carbon Dioxide since World War II, POLITICO
Drive-thru jokes: A British Columbia first-grader set up a booth in to tell passersby all the jokes he knows, becoming a mini internet celebrity, The Washington Post

More Tips from Around the Water Cooler

My kids returned to school four weeks ago – here's how Denmark made it work, indy100
How society can benefit from multiplier partnerships, Triple Pundit
Stop being ‘so busy:’ The psychology behind why being lazy is actually good for your brain, CNBC
Advice for ageless startups, even in a pandemic, Forbes
Six tips for data sharing in the age of the coronavirus, Nature

APCO is opening up the virtual water cooler for submissions from our readers - please share your article suggestions with us here.

Quotables

“The response has to be global. There has to be a way of picking up countries that are struggling right now, especially in the developing world."

- Imran Khan, Prime Minister of Pakistan

"Without being melodramatic, COVID-19 is like the last nail in the coffin of globalization. The 2008-2009 crisis gave globalization a big hit, as did Brexit, as did the U.S.-China trade war, but COVID is taking it to a new level."

- Carmen Reinhart, incoming Chief Economist, World Bank

The APCO team is working with clients globally to manage this crisis, and we stand ready to support your needs. For more resources from APCO, including our latest research, information on how we can help or to contact us, visit apcoworldwide.com/coronavirus.

About Coronavirus Beat

Coronavirus Beat is a bulletin of updates and clippings from the most relevant media and government sources created to help APCO’s clients keep abreast of the impacts of COVID-19 from around the world. APCO is supporting clients in managing the issues they confront related to the outbreak. Contact our crisis team at Crisis360@apcoworldwide.com or +1.866.360.APCO (toll-free) or +1.866.483.2726 (outside the United States).

APCO Worldwide is an advisory and advocacy communications consultancy helping leading public and private sector organizations act with agility, and build organizational reputations, brands, relationships and solutions to succeed. APCO has offices in more than 30 major cities throughout the world. To find out how APCO’s integrated services can help your company, visit apcoworldwide.com.