Description
Recent events such as the coronavirus outbreak, bushfires across Australia and the drought highlight the far-reaching effects of an epidemic and macro events. Beyond the initial devastation caused by these events, the true cost of an epidemic often takes some time to filter through the economy. In this article, we're taking a look at the economic impacts that epidemics and pandemics have on a global, regional and local scale.
Introduction
Recent events such as the coronavirus outbreak highlight the far-reaching effects of an epidemic. Following the initial devastation of these events, the true cost of an epidemic takes time to filter through the economy. In this article, we're taking a look at the economic impacts that epidemics and pandemics have on a local, regional and global scale.
When did the coronavirus outbreak start?
The Chinese Government alerted the World Health Organisation (WHO) of several unusual pneumonia cases in Wuhan on 31 December 2019. In early January, the WHO announced that they had identified a new strain of coronavirus — 2019-nCoV. At the time of this article's publication, there are over 81,500,000 confirmed cases and over 1,840,000 deaths worldwide.
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