Added by PressForward
Why the coronavirus presents a global political danger
The outbreak of coronavirus has become more than a deadly epidemic. It is also a canvas on to which people’s deepest fears and prejudices are being projected
Added by PressForward
The outbreak of coronavirus has become more than a deadly epidemic. It is also a canvas on to which people’s deepest fears and prejudices are being projected
The coronavirus outbreak, which was first detected in China, has infected people in 185 countries. Its spread has left businesses around the world counting the costs.
The latest federal data revealed 20.5 million jobs lost in April, and unemployment rivaling the Great Depression. A program to provide loans to small businesses ran dry. President Trump will be tested daily after a valet fell ill.
Over all, analysts at Goldman Sachs forecast that earnings of companies in the S&P 500 will decline by 33 percent this year, but then surge by more than 50 percent in 2021.
Senior figures across Europe, from the presidents of the European Council and the European Parliament to the prime minister of Spain and the head of the OECD have all called for a "Marshall Plan" to deal with the enormous human and economic costs of the coronavirus crisis. But to give these references substance, leaders need to remember what the Marshall Plan really meant. It is about politics and strategy as much as it is about money.
The world following the pandemic is unlikely to be radically different from the one that preceded it. COVID-19 will not so much change the basic direction of world history as accelerate it.
Few lawmakers, at least so far, expect their government’s emergency measures to be abused. If, by contrast, his European counterparts have little confidence in the Hungarian prime minister, that is his own fault.
Crises have a way of separating the leader-like wheat from the opportunistic chaff. So who’s leading and who’s seeking political advantage?