Showing posts with label coronavirus. Show all posts
Showing posts with label coronavirus. Show all posts

Sunday, March 22, 2020

The coronavirus and its economical impact

With the coronavirus spreading from China since 2019 all over the world, every country is infected. The see more cases of infected citizens daily or more and more deaths. While the curve of infection flattens in China as of March 2020, Italy in Europe surpasses the number of deaths of about 200 casualties per day. With no vaccine available at this time the death toll rises. Two measurements are currently at hand, to stop the spread of the pandemic. Most countries implement the rule of Social Distancing. People shall remain in a distance of two meters, and groups of five or more people and gatherings, like venues are forbidden. Schools and other establishments, where many people gather, are closed. The other is that countries, especially in Europe, closed their borders and limit traffic only for trucks providing essentials. May grocery stores have empty shelves for toilet paper, sanitzers, pasta products and canned foods. Worse, many people did panic buying of goods, leaving following customers with no items.

Impact on the economy

No matter, how long this crisis goes on, companies like car factories and other suspended their business to avoid infections of co-workers. Assuming this crisis goes on for more months, these companies will lose billions of Dollars.

Impact on education

As most schools and universities have closed their gates, with students being in isolation at home, there is no education for months to see. Education will fall back for months or even a year. Development in science, health, physics and other topics might be rolled back by at least one year.

My opinion

I don't say, we're are sent back into the stone age. But stocks for the most important companies were halted. The Dow-Jones sticks at 19,898 points at this writing, a value not seen since late 2016. The decision of the New York Stock Exchange was announced to shift temporarily to an all-electronic trading, starting on March 23rd 2020. A precautionary step to lock down the trading floors temporarily, represents a step to protect the well-being and health of the traders in the floor company, to avoid an infection with the COVID-19 virus. Nevertheless, the economy worldwide will be hit hard. Losses of more than hundred Billion Dollars are expected.

The virus continues to hammer hard large sectors of the international economy. And will continue to do so for some coming months.

Monday, March 2, 2020

Coronavirus outbreak and its spreading all over the world

While the WHO stated the risk of COVID-19 spreading worldwide is now "very high", officials have suggested that efforts to combat the coronavirus are still in the containment phase. But some medical experts think the containment stage has long passed since, the spread of the COVID-19 is inevitable, and that living with the virus might become a reality. COVID-19 is the respiratory illness caused by the new coronavirus. "This will not be contained, this has not been contained," said Isaac Bogoch, an infectious disease physician at Toronto General Hospital.

Massive public health efforts were helpful in slowing down the spread of infections and reducing the pace and frequency of exported cases from China to the rest of the world, but containment has not worked, Bogoch said.

Will continue to spread

"The coronavirus is spreading throughout the world and it will continue to spread throughout the world," he said. On Friday, the WHO director-general Tedros Adhanom Ghebreyesus said in a news conference that the Geneva-based health agency has "increased our assessment of the risk of spread and the risk of impact of COVID-19 to very high at a global level." China has seen more than 80,000 confirmed cases with almost 3,000 deaths. Outside China, there have been more than 7,000 cases in 60 countries reported, with more than 100 deaths.

Accepting the spreading

Michael Ryan, executive director of the WHO Health Emergencies Program said public health authorities speak of containment and of mitigation strategies when dealing with disease. Containment, he said, includes the measures taken to break the chain of transmission of the virus. Mitigation accepts the fact the virus cannot be prevented from spreading and then causing COVID-19. But health officials do what they can to mitigate the impact through treatment. "What we've been saying clearly is that containing the virus and interrupting transmission gives us an opportunity to stop the virus," Ryan said. "Accepting mitigation is the only option is to accept that the virus cannot be stopped."

But Bogoch said that if WHO officials are defining containment as the possibility that the coronavirus will not spread beyond a certain border, that they can still prevent different countries in different regions from seeing this infection, "I don't think that's very realistic. We're seeing global transmission of this infection."