- The coronavirus outbreak that originated in Wuhan, China, has killed nearly 3,300 people and infected more than 95,000. The virus, which causes a disease known as COVID-19, has spread to at least 81 countries.
- While much is still unknown about the virus, a group of Australian experts have estimated that the virus may have severe consequences on global gross domestic product.
- New modeling from The Australian National University looks at seven scenarios of how the outbreak might affect the world’s wealth, ranging from low severity to high severity.
- In the low-severity model — or best-case scenario of the seven — ANU researchers estimate a global GDP loss of $2.4 trillion, with an estimated death toll of 15 million.
As coronavirus cases continue to rise around the world, a group of Australian experts predict that the economic impact of the disease in the best-case scenario may total $2.4 trillion in lost global gross domestic product.
The coronavirus outbreak that originated in Wuhan, China, has killed nearly 3,300 people and infected more than 95,000. The virus, which causes a disease known as COVID-19, has spread to at least 81 countries.
More than 150 cases have been reported in the US, including 11 deaths across two states. The World Health Organization has declared the outbreak an international public-health emergency and warned that the window of opportunity to contain it is narrowing.
On Tuesday, the WHO noted that the global death rate for the novel coronavirus based on the latest figures was 3.4% — higher than earlier figures of about 2%. The WHO’s director-general, Tedros Adhanom Ghebreyesus, said the new coronavirus was “a unique virus with unique characteristics.”
While much is still unknown about the virus, the group of Australian experts has produced a warning about the impact the virus might have on people’s lives if left unchecked.