March, 3rd 2020
Coronavirus cases in South
Korea surged and millions of children's in Japan stayed home from school. as
officials struggled to contain the epidemic in more than 60 countries
including the US where 2 people have died and science of a bigger outbreak loomed.
As new battle
fronts again the coronavirus opened with surprising speed around the
globe recovered patients left Chine hastily build hospitals and isolation
Wards, freeing a patient beds in the city where the Covid-19 illness has hit
hardest. China where the epidemic begin in December reported only 200 to new
cases over the previous 24 hours with another 42 deaths. that brings the
country's total number of reported cases to 80026 with 2912 deaths in
all.
The city Wuhan accounted
for most of the new cases but also saw 2570 patients released. Monday's
release was China's lowest on January 21st. China skin is about three
fourth of the world's nearly 89000 cases worldwide but outbreaks were surging
in other countries with South Korea Italy and Iran sharp increases.
The US counted 88 cases
sent to deaths, both men with existing health problems who had been
hospitalized in Washington state. A genetic analysis of the virus in Washington
state where the deaths occurred suggested that the illness could have been
spreading within the community for 6 weeks before the first test was detected.
the coronavirus now present on every continent except Antarctica, has
infected nearly 90000 people killing
more than 3000.
In South Korea the
number rose 2 more than 4000 . The World Health Organization on Monday cell is
the first planeload of assistant to help fight coronavirus in Iran. The second
worst hit country after China is the death toll Rose by 12 to 66 in the
Republic. the epidemics in South Korea, Italy, Iran and Japan are WHO’s
greatest concern.
Iran's Deputy has
announced on state television 523 new infections and 12 new that's giving a
total of 1501 cases and 66 fatalities. Saudi Arabia reported its first
case of coronavirus, an infected person had come from Iran through Bahrain.
Global growth plunging over coronavirus
The virus outbreak is
plunging the world economy into its worst downturn since the global financial
crisis the organization for economic cooperation and development 1 governments
and Central Bank to find Bank to avoid an even stepper slump. The global
economy is set to grow only 2.4 % this year, the lowest since 2009 and
down from a forecast of 2.9% in November.
The Paris best policy
form projected the global economy would recover to 3.3% growth in 2021 during
the epidemic peaked in China in the first quarter of this year and other
outbreak proved mild and contained. However, if the virus spreads throughout
Asia, Europe and North America Global growth could drop as low as 1.5 %
this year.
Then a message from this
downside scenario is that it would put many countries into a recession which is
why we are merging measures to be taken in the affected area as quickly as
possible. Organization for economic cooperation and development said that the
government needed to support the health system with extra pay are tax relief
for workers doing overtime and short time working schemes for companies
struggling with a slump in demand.
Government could give
companies further financial relief by cutting social charges, suspending value
added taxes and providing emergency loans for sectors particularly hard search
s travel full stop in a note to some European country like fiscally
conservative Germany, for over spending caps while letting programs like
unemployment insurance do their job for softening the blow from the downturn.
Meanwhile Central Bank
could provide comforting signals to stressed financial markets that they stand
ready to further ease monetary policy and provide liquidity to vent if needed.
We don't want to add a
financial crisis to the health crisis official with the us. The Federal Reserve
European Central Bank and Bank of Japan have signaled in recent days that
they stand ready to do more if needed. If the situation deteriorated, a
coordinated response of Central Bank easy and fiscal stimulus amounting to 0.5
% of economic output in G20 countries would lead to 1.2% hair growth within 2
years.