Due to the economic crunch which clustered every corner of the world, public and private organizations have been busy at recalibrating significantly the roles and authority of the global market. Thus this has also come with some unforeseen development because regulation of every level of the economical activities has proven a big headache to economics experts. This essay is going to analyze how economic connection and regulation constrains solving cases like the Prestige Disaster in Spain and Hong Kong Virus like SARS development.
Globalization has brought about ties of nations in the sense of economic coalitions. Spain and America are one of the few collations in the shipping industry. However, this relationship was dented in November 2002 after the Prestige tanker sinking saga. According to Schapiro, (2004) the tanker registered to a Liberian company was pumped with tones of crude oil number 4, one of the said toxic fuel oil known to man. The tanker condition was deplorable; the captain faxes a report which sounds alarm to the ABS a company which regulates ships and tankers sea worthiness. However, this fell on deaf ears and after the captain resignation feigning the dangers looming to put the aging Prestige tanker in the ocean.
Later near the shores of Spain with a new captain experience some fault and later a mild storm would shut all the system of the aging tanker. Later when attempting to evacuate the tanker to the shore so that the crude oil can be exonerated to a safer location, the tanker snaps into two and sank spill all it content on the sea killing a lot of the maritime animals and birds. Then the blame game started between the owner, the Spanish government and the American ABS control board for worthy vessels operation. This economics connection caused the case to stall and till now there have never been substantial outcome to solve the prestige disaster case (Mattli & Ngaire, 2009). There should be harsh regulation and penalties instilled to curb the increasing oil spills disasters.
Hong Kong Virus Menace
One of the busiest ports (Hong Kong) in the world was recently reduced to the slowest port in the world due to SARS epidemic. The central issues here being discovery of a new virus identified as Severe Acute Respiratory Syndrome (SARS). One Dr. David Ho is deployed to tackle this epidemic after it takes root in Hong Kong and recording a mortality rate more agile than AIDS. Increasing economic activities is the course of transmitting the virus from victim to victim (Schapiro, 2004). Thus this because people have to transaction constrains the appropriate remedy application to the case. Global regulation on travelers from this location should ensure that they first under screening for the virus. Concentration on acute research for a remedy for this epidemic should be engaged by all experts from all over the world (Mattli & Ngaire, 2009).
In both cases of Prestige disaster and the Hong Kong SARS menace economic connection and global regulation plays major role in constraining and also development of how to address this issues. Economic connection is inevitable because trade has to continue. However, global regulation should be enforced to safe guard the health of the human being, environment and animals.