Every government for itself? Virus poses difficult dilemmas
With disparate and at times conflicting responses to the deadly coronavirus outbreak, governments across the globe are abandoning any pretence of joint action and instead putting their own health, economic and diplomatic interests first, analysts say.
(MMO) – From the United States to Europe, governments have in recent days announced new border controls, suspended air traffic and rail links and banned travellers from countries deemed high-risk.
But with stock markets suffering their biggest one-day plunges in three decades and the spectre of recession looming large, world leaders must carefully weigh public health against a full-blown economic crisis, experts say.
“China and Italy have taken a gamble by giving priority to health. But balancing the economy is vitally important and underestimated,” says Anne-Marie Moulin, research director at the French National Centre for Scientific Research.
Economic analyst Juliette Declercq, founder of London-based JDI Research, said it is impossible to know the true impact of the actions governments are taking.
“The question now is how long the recession will last,” she said.
