Tracking the effects of Coronavirus: Italy VS the USA

(Photo Credit : Morning Consult)

The Coronavirus pandemic is one of the most complicated threats that the world has faced in the 21st century. It directly effects public health, politics and economics, with major ramifications and dire consequences for financial markets, businesses, sports, governments and the society as a whole.

To this date, there have been more than 179,000 COVID-19 cases worldwide, according to Johns Hopkins University.


ITALY

Italy so far has the highest number of cases outside China. On Friday, it was announced that there were 627 new coronavirus deaths in Italy, the highest daily toll recorded, as country’s overall death toll rises to 4032.

Now the number of total cases has raised to 47 021.

On 17th of March, 159th anniversary of Italy’s unification, Prime Minister Giuseppe Conte thanked those who continue working despite the threat of the coronavirus pandemic, in messages on social media. He hailed the nation’s response and called for the country to remain united with courage and a sense of responsibility.

(Source : Prime Minister's twitter account @GiuseppeConteIT )

“Our country has faced thousands of difficulties, world wars, the Fascist regime. But the Italian people have always known how to get back up and start over with pride and determination. With heads held high”.

“Thanks to those who are donating blood. […] To the doctors and nurses, to civil protection volunteers, to firefighters, to the men and women of the armed forces and the security forces, for the extraordinary efforts that they are putting forth. Thanks to the pharmacists, to those who continue to go to the factories, to those working in supermarkets, thanks to the taxi drivers who in these hours are taking doctors to the hospital without charging them”


PM Conte continued: “Never like now has Italy needed to be united. We proudly fly our flag. We proudly sing our national anthem. United, responsible, and courageous.” he said, on National Unification Day.

According to some reports, including from Reuters, Prime Minister Conte told his fellow European Union leaders on Tuesday that coronavirus was causing a “socio-economic tsunami” across Europe and that dedicated bonds may be needed to soften the hit.

The Italy Stock Exchange, or the ‘FTSE MIB’ (Milano Italia Borsa) Index is a major stock market index which tracks the performance of 40 leading and most liquid and companies listed on the Borsa Italiana.

On Wednesday, it closed at 15,121 which means it lost more than 10,000  points from its peak in February.


U.S.A.

According to Johns Hopkins University, there has been 4,000-plus cases in the United States. The outbreak in Wuhan, China, was first reported on Dec. 31, 2019, with the first confirmed case in the United States coming January 21, 2020.

On 18th of March, ‘Dow Jones’ fell to sub-20,000 ; below where it was when President Trump was inaugurated.

Las Vegas strip shut down for the first time since the assassination of president John F. Kennedy.

In an effort to curb the spread of the virus, Donald Trump announced on March 11 a 30-day ban on foreign nationals traveling to the United States from most European countries. The ban was later extended to travelers from the United Kingdom and Ireland.

The U.S. House of Representatives passed a coronavirus aid package that includes free testing, paid emergency leave and other resources in an attempt to curb the crisis. The Senate is expected to take up the package this week.

Utah Senator, Mitt Romney, has proposed sending 1,000 dollar checks to every American during this crisis to boost the economy.

The idea of sending out stimulus checks has been gaining traction in recent weeks. In an opinion article in The Wall Street Journal published earlier this month, Harvard University economist Jason Furman proposed sending $1,000 to every taxpaying resident or citizen, and $500 to every child.

‘Morning Consult’, a global technology and media company that specializes in collecting and organizing data and surveys, has been tracking public concerns over the coronavirus outbreak in the U.S. since Jan. 24 and these are some data they have collected.

The share of U.S. adults who said they’re less likely to travel domestically in the next six months has more than doubled since early January — from 17 percent to 42 percent.


Maryam Rahmani

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