Special Analysis: How does the economy respond to a Pandemic
The World Health Organisation (WHO) has declared Coronavirus a pandemic and many countries are taking never before seen measures to control it. Belgium has shut down schools for five weeks. The US has stopped all flights arriving from Europe for the next 30 days. And Australia has declared a national emergency, with social distancing enacted and all events over 500 people now cancelled, with further restrictions thought to follow.
The ambiguity of the situation and fears of the potential economic impact of the novel Coronavirus have got the stock market gyrating, with volatility at never before seen levels. The prevailing issue with this pandemic threat is that not only our quality of life and possibly health are affected in the immediate term, but many of us are also nervously looking to the horizon, to a time when the virus is controlled, the immediate threat is over and the economic costs begin to be truly counted.
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