Human, economic toll from virus being felt worldwide
The human and economic toll of the lockdowns against the coronavirus mounted Thursday as India struggled to feed the nation’s multitudes and Italy shut down most of its industry.
As the number of infections worldwide surpassed a half-million and deaths climbed past 23,000, the damage to people’s livelihoods and their well-being from the effort to flatten the rising curve started to come into focus.
In India, where the country’s 1.3 billion people were under orders to stay home, legions of poor were suddenly thrown out of work, and many families were left struggling for something to eat.
“Our first concern is food, not the virus,” said Suresh Kumar, 60, a bicycle rickshaw rider in New Delhi whose family of six relies on his daily earnings of $4.
India has the world’s second-highest number of people living in extreme poverty. Rickshaw drivers, produce peddlers, maids, day laborers and other lowwage workers form the backbone of the economy, and many live day to day on their pay and have no savings to fall back on.
The Indian government announced a $22 billion economic stimulus package that will attempt to deliver monthly rations of grain and lentils to 800 million people.
Around the globe, the death toll rose to about 8,200 in Italy, 4,100 in Spain and 1,700 in France. The U.S. had more than 1,000 deaths, about 400 of them in New York State, the worst hot spot in the nation. Most of those victims were in New York City.
More than 122,000 people worldwide who were infected have recovered, according to a running tally by Johns Hopkins University.
Companies in Europe are laying off workers at the fastest pace since 2009, according to surveys of business managers.
Italy, the eurozone’s third-biggest economy and a major exporter of machinery, textiles and other goods, became perhaps the first Western developed nation to idle most of its industry, extending a shutdown on smaller, nonessential businesses to heavy manufacturers.
Among the companies in Italy that have shut down or rolled back production: Fiat Chrysler, Ferrari, Pirelli tires and Luxottica eyewear, maker of Ray-Bans and Oakleys.
The industrial lobby Confindustria estimates a cost of $77 billion to $110 billion of national wealth a month if 70% of companies are closed, as anticipated.
“We are entering a war economy,” said Confindustria President Vincenzo Boccia.
Elsewhere around the world, South Africa, with the most industrialized economy in Africa, headed into a three-week lockdown starting Friday. The country is already in recession, with an unemployment rate of 29%.
And Britain unveiled another relief effort, this time aimed at the gig economy, many of whose workers are facing financial ruin. The government will give the self-employed grants equal to 80% of their average monthly profits, up to $2,975 per month.
Saudi Arabia announced a total lockdown on the capital, Riyadh, and Islam’s two holiest cities, Mecca and Medina, in addition to a nationwide curfew.
In the United Arab Emirates, authorities announced an overnight weekend lockdown and used drones to tell people to stay home.