Latest Measures To Contain Coronavirus

As of 21 March 2020, total Covid-19 confirmed cases in the world has crossed 300,000. At least 13,000 people died of the coronavirus. The pandemic has caused significant disruptions to not only our daily lives, but also the business and financial world. The US stock markets had the wildest roller coaster ride in the past few weeks, triggering circuit breakers almost every trading day. With guidance from your economics tutor Singapore in economics tuition Singapore, discuss the economic implications of coronavirus outbreak. You may sign up for economics tuition Singapore with a reputable economics tutor Singapore to learn more.

Latest Measures By Political Leaders Around The World

Indian Prime Minister Narendra Modi announced a 14-hour curfew as part of the country’s efforts to slow down the spread of the virus. The country reported 315 confirmed cases and four deaths as of 21 March 2020. People are advised to stay at home to minimize contacts with others. India, as the world’s second most populous country faces critical challenges to contain the virus. You may discuss with your economics tutor Singapore in your economics tuition Singapore class to evaluate the effectiveness of this 14-hour curfew.

In China, where the virus first emerged last November, the situation is now under control. Most of its recently confirmed cases are imported from overseas. The government has shifted its focus to border control as the risk of pandemic outbreak overseas continues to rise. Big data analysis has been used to screen inbound passengers and share information timely with relevant authorities. In consultation with your economics tutor Singapore in economics tuition Singapore, explain the benefit of using big data analysis to contain the coronavirus outbreak.

In Malaysia, the government announced that it would deploy armed troops to enforce its movement control order as the number of confirmed cases in the country continued to surge. The country reported a total of 1,183 confirmed cases, with eight deaths as of 21 March 2020. The country is under a nationwide lockdown from 18 to 31 March 2020. With help from your economics tutor Singapore in your economics tuition Singapore class, you may assess the possible impact on its economy.

Across Europe, governments have advised people to stay at home, threatening fines in the event of non-compliance. Italy reported its biggest single day jump in death toll, with another 627 deaths. The worst hit country in Europe, its death toll has crossed 4,000. Italy faces greater challenges as compared with its European counterparts because of its ageing population. 40 per cent of its confirmed patients are aged 70 years and above. Close to 90 per cent of deaths can be attributed to this age group. So far, Italy has the world’s highest death rate of about eight per cent. You may consult your economics tutor Singapore in economics tuition Singapore about possible economic measures in tackling the coronavirus.

US’s Rescue Package

In the US, the number of confirmed cases has passed 24,000, making it the fourth worst hit country after China, Italy and Spain. The senators have yet to reach a deal on the US$1.6 trillion rescue package. If passed, this will make history as the most expensive economic rescue package in the US. You may approach your economics tutor Singapore in your economics tuition Singapore class for information about other economics rescue packages in the US history. The package will include paid leave for sick workers and those caring for their family members infected with the virus. Hundreds of billions will be channeled to businesses in the distressed industries such as Boeing and GE while tens of billions will be channeled to hospitals and healthcare service providers. There will also be financial support for small and medium enterprises to help them cope with the business downturn.

Though still debating, both Republicans and Democrats have made compromises in a bid to close the deal. We are hopeful that the unprecedented rescue package will provide the much-needed help to the affected individuals and businesses in the US.

Vincent Chew

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