Since the explosion of news about the outbreak of the coronavirus, there has been confusion over how to respond and on what will happen to the world economy as a result. It’s safe to say the virus won’t help the already slowing world markets, which could lead us further into slowing growth and eventually into a downturn, perhaps sooner than we previously thought.
But for now, we can only speculate and keep watch on the world economy as the effects of the virus outbreak cause interruptions to plans as usual.
What is the coronavirus?
According to the World Health Organization, coronaviruses are a family of viruses that cause illnesses ranging from the common cold to severe respiratory failure depending on the cited case. A “novel” coronavirus, such as the one being reported on now, is a new strain that hasn’t been seen in humans before. The symptoms of this virus are flu-like.
Virus scares like this one aren’t uncommon and have many historical examples to look to for guidance. An older case was the Spanish flu of 1918, and a more recent one that gained mainstream notoriety was the Swine flu of 2009, a strain originally identified during the spread of the Spanish flu.
So then, what impact is this coronavirus having on the world economy?
