Flattening the curve this has provided adequate space

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flattening the curve .” This has provided adequate space for their health systems to treat active cases without being overwhelmed, as has occurred in Wuhan, Italy, and Iran. While the epicenter of the disease is still under quarantine, the rest of China is beginning to stir to life. Early on, economic concerns largely focused on the impact that the Chinese quarantines would have on global supply chains. As an auto supply chain strategist noted , “It takes 2,500 parts to build a car, but only one not to.” Getting even a share of China’s manufacturing sector back online will be key to the global economic recovery. South Korea is being hailed as an example of a relatively open society which was able to stem the tide of a rapidly spreading contagion. While that news provides both hope and lessons from the leading edge, their successes have involved radical societal adoption of stringent hygiene, social distancing, broadly available testing, and vigilant monitoring. On the positive side, some of the more pessimistic early beliefs about the virus are being called into question. For example, we heard reports of asymptomatic patients—those who had the COVID-19 disease, did not go on to develop any identifiable symptoms, but still were able to pass the disease along to others. But the findings of a WHO mission to China to study the disease concluded that asymptomatic infection “appears to be relatively rare and does not appear to be a major driver of transmission.” And while initial opinion was that warm weather would be powerless to stem the spread of the coronavirus as it does the seasonal flu, a recent study finds that coronavirus may in fact weaken under warmer conditions. If true, the summer months may see a reduction in its spread, allowing more time for researchers to study it. Growing concerns about the response to the virus, both in the U.S. and abroad. Delays in testing for the virus have increased concerns as to the readiness of the U.S. system. While official data on number of confirmed cases remains low, that is likely to scale up as testing capacity increases. The relatively measured steps the U.S. had been taking toward mitigation and containment seemed out of step with the experiences of other countries that have successfully mitigated the impact of the virus thus far. However, more recently there has been broader acceptance that a more aggressive approach is needed. Markets appear eager for a robust fiscal response to support the health efforts and to address the inevitable economic fallout. A comprehensive spending package, possibly coordinated across developed nations, could help to steady markets. However, that has proven elusive thus far as Congress and the administration formulate 1. 2.
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NATIONAL ASSOCIATION OF FEDERALLY-INSURED CREDIT UNIONS | NAFCU.ORG | 3 which policies are likely to achieve the greatest impact at the least cost. The prospects for international coordination look remote, with Germany reluctant to take on more debt and Russia and Saudi Arabia preparing to unleash a flood of oil into a tottering global economy.
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