COVID-19 uncertainty: A virus-weakened global economy

It has been a dramatic 48 hours. The Italian government on Sunday announced that more than 15 million people in the industrial heartland of the country were being quarentined for a period of four weeks. It came as the deathtoll from the Corona Virus in Italy shot up to the highest level outside of Mainland China. The Italian Prime Minister Giuseppe Conte argues that these drastic measures are a bitter pill for the country's economy in the short term but that this will spare the country longer-term economic damage.

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[phaedraschwartz]

In addition to the United States not freeing up tests for the public, there is the high cost of getting medical attention. For the working poor who do not qualify for government benefits an illness costs could make them homeless.

[claudermiller]

The response here in the US has been superb? WTF is be talking about?

[namesurname]

The stupid thing is... This could have been prevented... If we compare cost of preventing spread of coronavirus and cost of curing coronavirus, latter is much higher.

If countries did everyhing they could, economy would have some loses, but they didnt and now they have even higher loses, due to quarantines and closed factories.

Countries also imported sick individuals from China and didnt take enough care for preventing spread of the diesease.

They could have just banned all tourists from China, when they still had time and isolated diesease only to China territory.

[MC-nyiw]

It will spread all over the world? Seriously, this guy hasn’t read the press since January!

[mihaelachihai]

US utterly irresponsible! We know very well what's going on there! Don't test, don't tell! Give us a break!

[dylanappenfeldt]

Suberb yep if you don't want any one tested, the US Nailed This

[GreatDayEveryone]

He lost all credibility when he said the US reaction was superb. Not sure how they kept a straight face

[giawou]

US have been warming about this COVID-19 three months ahead but the US government did not take any measures ahead. It is an ambarassment to the US healthcare system.

[newera]

Going to be some cheap stocks in couple of weeks. Buyer's market.

[lorrainestcyr]

from Deloitte: Think Beyond Your Four Walls. Good insight, the rest is below:
Responding to the immediate challenge

Borrowing from the lessons learned from the SARS outbreak in 2003, the 2008 recession and credit crunch, and the last black swan event to significantly impact global supply chains–the Japanese earthquake of 2011–we offer the following practices and strategies for consideration:

Ensure you have a robust framework for managing supply chain risk
Ensure your own financing remains viable
Focus on the cash-to-cash conversion cycle
Think like a CFO, across the organization
Revisit your variable costs
Revisit capital investment plans
Focus on inventory management
Extend payable, intelligently
Manage and expedite receivables
Consider alternative supply chain financing options
Audit payable and receivables transactions
Understand your business interruption insurance
Consider alternative or non-traditional revenue streams
Covert fixed to variable costs, where possible
Think beyond your four walls
What’s next: ....Recovering and returning.... to normal business operations

[MC-nyiw]

The Vella guy is stuck in January, “ this is for sure a epidemy ” this is a pandemia!

[russellberwick]

If people are helping to cause global warming, then what effect do humans have in helping something like this virus? Perhaps we are causing these viruses to becoming stronger, with our improved medicines, and advancements in science?

[njosborne]

This expert has never heard of Enron!
That shit is well manipulated!
Petrodollars is a proven declining market!

[neobikes]

its so funny to hear french people talk english :D

[tommaguire]

100, 000 people infected in China and they have succeeded in reversing the infection trend but they are one of the few countries that can act in such a decisive manner, the USA is on the other end of the scale at the moment where they are not being led at all they are not testing enough to the degree that the death rate in the USA is double or triple the rate in the rest of the world

[seang]

National Guard being deployed in New York State effective Mar 11.

[mrrecycle]

What works when china are still in lock down if there's no test kits there no virus

[angelh]

This could have been prevented. Further new Corona Viruses would be prevented if China would decide to respect animal welfare and give up eating meat. Just my opinion. Impressive professionally conducted debate.

[robertcox]

Media overkill for a few weeks of illness.