Quite a lot has been going on:
5 reasons why CEOs must care about safeguarding nature | World Economic Forum
'Arguing with Zombies': Paul Krugman on Economic Ideas That Won't Die | Chicago News | WTTW
"I am worried, very worried about the economy," the Nobel-Prize winning economist, New York Times opinion columnist and author told "Chicago Tonight." "A few days ago I would've said, 'I don't see a really big shock on the immediate horizon.' Maybe coronavirus is that shock."
"But what scares me now is that we don't have any shock absorbers," he said. "I don't know what the next bump in the road is, but I do know that we're not prepared to handle it."
Coronavirus Poses Tough Challenge for Economic Policymakers - The New York Times
They don't know where or how fast the virus will spread. They can't draw on clear precedents to consider what to do. And the tools they normally use to fight economic slumps — interest-rate cuts, government spending hikes and tax relief — either might not work very well, lack broad support or carry their own risks.
Stock markets tumbled and bond yields sank Tuesday for a second day on rising fears that COVID-19 and the quarantines being imposed to fight it are obstructing global supply chains and could derail corporate earnings and the global economy. The Dow Jones industrial plunged 878 points — 3% — after plummeting more than 1,000 points Monday, the sharpest drop in two years.
Not to change the topic here:
Marching orders - As its covid-19 epidemic slows, China tries to get back to work | Finance and
IF CHINA IS the world's factory, Yiwu International Trade City is the factory's showroom. It is the world's biggest wholesale market, spacious enough to fit 770 football pitches, with stalls selling everything from leather purses to motorcycle mufflers.
The muted restart of the Yiwu market resembles that of the broader Chinese economy. The government has decided that the epidemic is under control to the point that much of the country can go back to work. That is far from simple. More than 100m migrant workers, the people who make the economy tick, are still in their hometowns, and officials are trying hard to transport them to the factories and shops that need them.
Money Talks - Covid-19 spreads—is a global economic downturn on the cards?
Worldwide economic growth could shrink by more than $1 trillion if coronavirus becomes a global
Oxford Economics projects the coronavirus could wipe out $1.1 trillion from their baseline worldwide gross domestic product forecast if it morphs into a global pandemic. A more optimistic estimate from the firm anticipates the pandemic being contained within Asia, and global GDP falling $400 billion below their baseline before a sharp recovery in 2021.
Should coronavirus become a pandemic contained within Asia, global gross domestic product growth in 2020 will fall 0.5%, or $400 billion, below the firm's baseline estimate, according to the note. A slowdown in world trade and consumer spending would hit most severely during the first half of the year before a sharp recovery lasts through 2021.
Fed Official Says Coronavirus Economic Fallout 'Could Spill Over' - The New York Times
WASHINGTON — The Federal Reserve is watching developments surrounding the deadly coronavirus closely, but a top official on Tuesday signaled that the central bank is not yet ready to act.
Vice Chair Richard H. Clarida said that economic disruptions in China from the virus "could spill over to the rest of the global economy" but added that "it is still too soon to even speculate about either the size or the persistence of these effects, or whether they will lead to a material change in the outlook."
Happening on Twitter
Under Modi, India's democratic institutions have been dismantled. Under Trump, the 3 separate but equal branches of… https://t.co/hMj1SEDIjM rulajebreal (from United States) Tue Feb 25 03:39:16 +0000 2020
@drvox This is why Warren would, imo, make the best President. She not only recognizes the crises, she's proactive… https://t.co/xi0htQcSmw Mikel_Jollett (from Silver Lake, CA) Tue Feb 25 04:58:44 +0000 2020
1) I made a list of trustworthy sources of information about the #Coronavirus: https://t.co/uDGn4y6mnR What institu… https://t.co/K6yVnsWp2f digiphile (from Washington, DC) Tue Feb 25 01:37:17 +0000 2020
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