{"id":7649,"date":"2020-03-29T13:09:55","date_gmt":"2020-03-29T13:09:55","guid":{"rendered":"http:\/\/calamur.org\/gargi\/?p=7649"},"modified":"2020-03-30T01:59:42","modified_gmt":"2020-03-30T01:59:42","slug":"the-cost-of-covid-19-the-coronavirus","status":"publish","type":"post","link":"https:\/\/calamur.org\/gargi\/2020\/03\/29\/the-cost-of-covid-19-the-coronavirus\/","title":{"rendered":"The Cost of COVID 19 &#8211; the CoronaVirus"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">This appeared in CNBC TV18 on the <a href=\"https:\/\/www.cnbctv18.com\/healthcare\/counting-the-cost-of-coronavirus-outbreak-why-it-could-hurt-the-global-economy-badly-5340021.htm\">20th of February 2019<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The latest public\nhealth scare to hit the world is the COVID 19 \u2013 Corona Virus. <a href=\"https:\/\/www.who.int\/docs\/default-source\/coronaviruse\/situation-reports\/20200218-sitrep-29-covid-19.pdf?sfvrsn=6262de9e_2\"><strong>According\nto the World Health Organisation (WHO)<\/strong><\/a>, there were over 73,000 reported\ncases of COVID 19, with most of the epidemic contained in one province in China\n\u2013 Hubei. Outside China, there are a shade over 800 cases. According to the\nEuropean Centre for Disease Control, there have been 2012 deaths, <a href=\"https:\/\/www.ecdc.europa.eu\/en\/geographical-distribution-2019-ncov-cases\"><strong>2006\nof which<\/strong><\/a> are in China.&nbsp; <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The term Coronavirus\nis a family of viruses that cause a variety of ailments ranging from the\nrelatively harmless common cold to the more virulent illnesses such as the\nSevere Acute Respiratory Syndrome (SARS-CoV) and Middle Eastern Respiratory Syndrome\n(MERS-CoV). The current outbreak is caused by a new type of coronavirus that\nhas hitherto not been detected in humans. Coronaviruses are zoonotic ie, are\ntransmitted between animals and people. For example, Swine flu\u2013transmitted form\npigs to humans \u2013 or bird flu \u2013 between birds and humans; or Ebola \u2013 from bats\nto humans \u2013 are all examples of zoonotic infections. According to <a href=\"https:\/\/journals.lww.com\/cmj\/Abstract\/publishahead\/Identification_of_a_novel_coronavirus_causing.99423.aspx\"><strong>a\npaper<\/strong><\/a>in the prestigious Chinese Medical Journal scientists have\nsaid that this new coronavirus has been borne by bats to humans. <\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" width=\"602\" height=\"337\" data-attachment-id=\"7650\" data-permalink=\"https:\/\/calamur.org\/gargi\/2020\/03\/29\/the-cost-of-covid-19-the-coronavirus\/image-2-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/calamur.org\/gargi\/wp-content\/uploads\/2020\/03\/image-2.png?fit=602%2C337&amp;ssl=1\" data-orig-size=\"602,337\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"image-2\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/calamur.org\/gargi\/wp-content\/uploads\/2020\/03\/image-2.png?fit=602%2C337&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/calamur.org\/gargi\/wp-content\/uploads\/2020\/03\/image-2.png?resize=602%2C337\" alt=\"\" class=\"wp-image-7650\" srcset=\"https:\/\/i0.wp.com\/calamur.org\/gargi\/wp-content\/uploads\/2020\/03\/image-2.png?w=602&amp;ssl=1 602w, https:\/\/i0.wp.com\/calamur.org\/gargi\/wp-content\/uploads\/2020\/03\/image-2.png?resize=300%2C168&amp;ssl=1 300w\" sizes=\"(max-width: 602px) 100vw, 602px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">While it is very\ninfectious, and has spread rapidly since the 30<sup>th<\/sup> of December, WHO\nhas been muted in its commentary about the outbreak. Tedros Andhanom \u2013 the\nDirector General of WHO \u2013 <a href=\"https:\/\/www.aljazeera.com\/news\/2020\/02\/cloneof200215224437270-200216231809757.html\"><strong>has\nsaid<\/strong><\/a> that COVID-19 is not \u201cas deadly as other coronaviruses, including\nSARS and MERS\u201d. &nbsp;To put it in\nperspective, there were between <a href=\"https:\/\/www.cdc.gov\/flu\/about\/burden\/preliminary-in-season-estimates.htm\"><strong>14,000\n\u2013 36,000 deaths due to influenza<\/strong><\/a> in the United States, in the 4 month\nperiod between October 2019 and January 2020. Yet, you don\u2019t see the kind of\nresponse that you have with the world reaction to COVID 19. The panic that has\nbeen caused by a flu for which there is no vaccine yet has been a virtual\nquarantining of all activity with travel into or out of China, having severe\neconomic consequences not just for China, but for countries across the world.\nMoody\u2019s has revised its <a href=\"https:\/\/www.moodys.com\/researchdocumentcontentpage.aspx?docid=PBC_1212765&amp;cid=ET56ASMMW3E3582\"><strong>China\nGDP growth forecast<\/strong><\/a> from 5.8% to 5.2% &#8211; blaming the coronavirus.&nbsp;&nbsp; <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At the most\nbasic level, an already troubled airline industry worldwide has been hit by the\ncoronavirus. Airlines across the world <a href=\"https:\/\/www.nytimes.com\/reuters\/2020\/02\/18\/world\/18reuters-china-health-airlines-factbox.html\"><strong>have\nsuspended<\/strong><\/a> flights to China. According to the United Nations World Tourism\nOrganisation (UNWTO), 62.9 million tourists visited China in 2018, and revenue\nfrom tourism accounted for almost <a href=\"https:\/\/tradingeconomics.com\/china\/tourism-revenues\"><strong>11% of the\nChinese GDP<\/strong><\/a>. This includes the massive Chinese domestic tourism market\n\u2013 estimated to <a href=\"https:\/\/www.chinadaily.com.cn\/a\/201901\/17\/WS5c401476a3106c65c34e506c.html\"><strong>be\n$ 650 billion<\/strong><\/a> &#8211; that is also going to be impacted. Chinese\nparticipation in tourism outside China is also expected to decrease. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The second is\nwith much of the Chinese working population being advised to work from home,\nthere has been a massive impact on global supply chains. Many manufacturing\nunits have shutdown till the crisis passes. <a href=\"https:\/\/www.ft.com\/content\/ab59aac6-51ce-11ea-8841-482eed0038b1\"><strong>Apple<\/strong><\/a>\nhas already indicated that the Coronavirus will cause for its revenue to fall.\nVehicle manufacturers who depend on supply parts from China <a href=\"https:\/\/www.cnbc.com\/2020\/02\/14\/coronavirus-impact-to-potentially-disrupt-gm-truck-production.html\"><strong>have\nsaid<\/strong><\/a> that their operations could be impacted by the Coronavirus. There\nhas been a virtual write off of all economic activity in China since the\nbeginning of the year, and the two months of disruption to the economy would\nhave a fallout on not just the Chinese economy but those in the region and the\nworld. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The third major\nsector to be impacted is Pharmaceuticals. Hubei province \u2013 the epicentre of the\noutbreak \u2013 is also the province from which most pharmaceutical raw material is\nproduced. It is expected that India that produces 20% of the world\u2019s bulk drug\nrequirements will be impacted by the virtual shut down in production. Unless\nthe crisis passes, and people get back to work in China, there will be a <a href=\"https:\/\/www.cnbctv18.com\/videos\/business\/coronavirus-outbreak-leads-to-supply-disruptions-says-nirmala-sitharaman-5327581.htm\"><strong>major\nshortfall in bulk drug manufacturing<\/strong><\/a>, leading to a spike in prices of\nbasic medicines. &nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">There are those\nwho say that this is a great opportunity for Indian manufacturing replacing\nChinese manufacturing in the short run, and maybe even in the long run.\nHowever, it is not easy to shift production lines. Besides, with India in a\nslowdown, and many factories already shut \u2013 it might be difficult to even\nproduce what they produced earlier \u2013 let alone change tracks and replace\nChinese goods in the global supply chain. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Coronavirus\nwill be combatted. Scientists will develop a vaccine. The only question is\nwhen, and it is likely to be sooner rather than later. As populations spreads &nbsp;across the world become denser, as we migrate\nfrom the rural to city life; as tourism spreads \u2013 so too will never seen before\nbugs that can disrupt lives, economies, and futures. There will always be a gap\nbetween the outbreak of the virus and the finding of the cure. What are\nrequired is protocols to prevent panic and economic tsunamis from hitting\npopulations already ravaged by illness.&nbsp; <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At one point of\ntime it was said that if America sneezes, the world catches a cold; the same\ncan be said of China today \u2013 its global presence and impact on the world\neconomy is so great that the coronavirus outbreak in the country has infected\neconomies across the globe. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>This appeared in CNBC TV18 on the 20th of February 2019 The latest public health scare to hit the world is the COVID 19 \u2013 Corona Virus. According to the World Health Organisation (WHO), there were over 73,000 reported cases of COVID&#8230;<\/p>\n","protected":false},"author":1,"featured_media":7651,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[10,23],"tags":[330,755,1794,1787,1786,1785],"class_list":["post-7649","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles-in-msm","category-india","tag-china","tag-india","tag-public-health","tag-tedros-andhanom","tag-who","tag-wuhan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Cost of COVID 19 - the CoronaVirus - A PoV<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/calamur.org\/gargi\/2020\/03\/29\/the-cost-of-covid-19-the-coronavirus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Cost of COVID 19 - the CoronaVirus - A PoV\" \/>\n<meta property=\"og:description\" content=\"This appeared in CNBC TV18 on the 20th of February 2019 The latest public health scare to hit the world is the COVID 19 \u2013 Corona Virus. 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