As world grapples with the extent and seriousness of this sudden calamity called Corona Virus, there is a strange demographical angle also into play, besides the commercial impact that is being reported widely.
The attending physician of Congress, Dr. Brian Monahan, estimates that 70 million to 150 million Americans – more than 30 percent of US population, could be infected by coronavirus. While the expected mortality rate for COVID-19 is 1%, but in other countries this might not be the right percentage to go by. The demographics plays a very important role here.
While in America, close to a million Americans may die of corona-virus, in European countries with more percentage of elderly population the percentage is expected to be higher.
Chancellor Angela Merkel estimates 70% of German's getting affected by this virus and even if 1% is the mortality rate, then Germany might see more than half a million Germans die in a very short period of time.
Germany alone might see more than half its citizens die in a very short period of time. Globally, 30 million to 50 million people might end up loosing their lives.
BRACING FOR THE WORST
From China, Iran, South Korea and Italy, now North America and Australia is bracing for the worst.
While China and South Korea are reporting a gradual decline in new cases, italy has gone under unprecedented nationwide lock-down.
The mortality rate is also linked to elderly, and Europe with a skewed elderly population is staring at higher mortality rates than the predicted 1%.
A national Emergency might help USA contain the spread, but people are fearing that this might be a case of delayed decision making.
Canada is still not able to gain the confidence of its people that strict co-ordinated effective measures have been taken. Panic buying is not helping things either, with empty aisles for some essential products and untouched non essential goods gathering dust, such as toys, electronic items, and gadgets, clothes, cars to name a few, manufacturers and medium to small scale retailers, mom and pop stores are now faced with worst case business scenario where they might end up with inventories in warehouse and stocks in shelves for months.
HOLD AND SECURE
As people grow apprehensive of the looming downturn in economy and a static job market, they are faced with a disastrous uncertainty about what the future might hold. This has led to people going on hold and secure, as far as personal spending is concerned. Traveling plans are scratched off, cruise ships packed with revelers might not sail in the warm waters any sooner. Beaches and markets might not see the hustle and bustle of a spring break.
Stock markets are breaking all the records in the worst possible way and there is no indication that they might have finally bottomed out.
Any silver lining in all this apocalyptic scenario? As many philosopher's opine, even this too shall pass.
V Patrika Staff- Toronto - Canada
write to the editor@vpatrika.com
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