The New Indian Express Chennai|March 22, 2020
$12 tn was pegged by Bridgewater as the total economic loss due to coronavirus pandemic globally
As we head into another weekend of coronavirus disruption, the outer perimeters of the problem is galloping away so fast that it has become difficult to make sense anymore. The sinister milestones keep coming at us without let up. The world by Friday had topped 11,000 Covid-19 deaths. By Thursday, Italy had surpassed China with 3,405 deaths, and on Friday hit the dubious record of 627 deaths in one day.
India, not a hotspot yet, is showing a spike. The last two days saw the largest number of Covid-19 positive cases, taking the tally to 236. Life and markets are paralysed. The two questions begging an answer are: When will it all end? And what is going to be the cost?
As we search, this is certain: it will be a Brave New World we will face when all this is over, one that might be difficult to recognise.
The cost of the pandemic can be gauged only after seeing how long it will last. Singapore’s Foreign Minister Vivian Balakrishnan told CNBC that we should expect the economic aftermath of the outbreak to last at least a year. Donald Trump, who so far has been living in denial, said on Thursday that “people are talking about July-August” for normalcy to return to the US.
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March 22, 2020