Restarting virus-affected economies no easy task
Early experiences in China and Europe show that ‘business as usual’ is a long way off
Some Chinese cities tried reassuring consumers by showing officials eating in restaurants. In the US, people have begun getting relief checks to help them pay the bills.
Rome’s streets were largely deserted despite some stores reopening. In Vienna, clothing store owner Marie Froehlich said her staff was happy to be back after weeks cooped up at home. But dependent largely on tourism, she expects the business will take months to return to normal.
“Until then, we are in crisis mode,” she said.
Truck salesman Zhang Hu in Zhengzhou, China, is back at work but his income plummeted because few people are buying 20-ton rigs. “I have no idea when the situation will turn better.” In the US, with many factories shut down, American industrial output shriveled in March, registering its biggest decline since the nation demobilized in 1946 at the end of World War II. Retail sales fell by an unprecedented 8.7 percent, with April expected to be far worse.
President Donald Trump said he’s prepared new guidelines for easing social distancing, even as business leaders told him more testing and personal protective equipment were essential first. Troubling data indicate the worst may still be to come in many parts of the world. UN Secretary-General Antonio Guterres is urging stepped-up efforts to prepare Africa, warning that the continent “could end up suffering the greatest impacts.” Singapore’s outbreak has jumped more than 1,100 cases since Monday. It had looked to be successful in containing a first wave of infections, but the new cases are occurring among workers from poorer Asian countries who live in crowded dormitories and work in the tiny city-state’s tradedependent economy.
In Brazil, a war of words has broken out over President Jair Bolsonaro’s lackadaisical approach to the virus.
“We’re fighting against the coronavirus and against the ‘Bolsonaro-virus,’” Sao Paulo state Gov. João Doria told The Associated Press in an interview, adding that he believes the president has adopted “incorrect, irresponsible positions.”
The US began issuing one-time payments this week to tens of millions of people as part of its $2.2 trillion coronavirus relief package. But another part of the relief package, a $350 billion paycheck protection program aimed at small businesses, is running dry after being open for only a matter of days. Negotiations were accelerating in Washington over a $250 billion emergency request to help. The US has recorded more than 30,000 deaths — the most in the world — and over 600,000 confirmed infections, by a Johns Hopkins University count. Still, the nightmare scenarios projecting a far greater number of deaths and hospitalizations have not come to pass, raising hopes from coast to coast and prompting stronger calls for easing of restrictions.
FASTFACT
The US began issuing one-time payments this week to tens of millions of people as part of its $2.2 trillion coronavirus relief package.