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Technology The longer and deeper the COVID-19 crisis, the harder it will be to bounce back: Don Pittis

13:55  18 february  2020
13:55  18 february  2020 Source:   cbc.ca

Woman from London, Ont., no longer infected with new coronavirus

  Woman from London, Ont., no longer infected with new coronavirus Ontario's chief medical officer of health says the London woman who was the province's third case of COVID-19, the illness caused by the new coronavirus, is no longer infected. On Jan. 31, health officials reported that a woman in her 20s had returned from Wuhan, China, the epicentre of the viral outbreak. The woman was at first asymptomatic when she arrived on Jan. 23, officials said, however she began to exhibit symptoms of the illness the next day and went to the hospital.

COVID - 19 has killed at least 1,775 people and infected more than 71,440 globally. Ninety-five per cent of the 2,000 new cases recorded yesterday were diagnosed in Hubei, the deserted Chinese province at the centre of the crisis .

All about the China coronavirus COVID - 19 . COVID - 19 : death toll passes 1,800 in China. Nearly 72,500 people nationwide have been infected by the new COVID - 19 strain of the virus, which first Most of the deaths were in Hubei province, the hard -hit epicentre of the outbreak, with five reported

a group of people standing around a table: This Beijing restaurant offered a Valentine special that included a rose and a note logging the temperature of the chef who made the meal. Jia Wong of the University of Alberta's China Institute says if the crisis does not end soon, small businesses in China will go broke.© Mark Schiefelbein/The Associated Press This Beijing restaurant offered a Valentine special that included a rose and a note logging the temperature of the chef who made the meal. Jia Wong of the University of Alberta's China Institute says if the crisis does not end soon, small businesses in China will go broke.

For people who have lost loved ones to COVID-19, the disease that has swept parts of China and may have gained a foothold elsewhere, the global economic impact is likely the least of their concerns.

But with the world economy already hovering near what the International Monetary Fund considers to be recessionary levels, a significant global slowdown would be about more than money. And one of the biggest considerations is whether the economic impact of the disease will be ephemeral or lasting.

Ontario confirms three new COVID-19 cases; provincial total now 34

  Ontario confirms three new COVID-19 cases; provincial total now 34 TORONTO — Ontario health officials have announced three new cases of the novel coronavirus, bringing the total in the province to 34. One patient is a man in his 50s who recently travelled to Germany and was seen at Brampton Civic Hospital. The other two cases are a man in his 80s and a woman in her 70s who were recently in Iran and upon returning to Canada went to North York General Hospital. All four of the patients have been released into self-isolation.The Ministry of Health says COVID-19 is still not circulating locally, but officials are actively working to prepare for potential local spread of the illness.

Originally, people were thought to be catching it from a live animal market in Wuhan city. But cases soon began to emerge in people who had never Once someone has caught the COVID - 19 virus it may take between two and 14 days, or even longer , for them to show any symptoms – but they may

Don Pittis · CBC News · Posted: Dec 19 , 2014 5:00 AM ET | Last Updated: December 19 , 2014. Oil prices 'will eventually jump,' Russian President This fits well with the view from other analysts who say that one of the main effects of falling prices will be to force energy companies to become lean

Widely described as the biggest current threat to global growth, the coronavirus, and perhaps more important the things governments are doing to prevent it from spreading, could yet push the world below the recession line.

That is one of the reasons why experts like Richard Schabas, Ontario's former chief medical officer, worry that draconian measures that stoke fear in the population do more harm than good.

Recession also kills

"Recessions kill people, in fact will probably kill more people than this virus does," he told CBC News host Michael Serapio last week.

Here in the wealth and safety of Canada it may be hard to fathom, but in a globally integrated economy a few dollars less a month can mean life or death to people struggling for food and medicine. That's easier to comprehend when you think that the World Health Organization estimates about six million children a year die preventable deaths, usually associated with poverty.

New Brunswick records 1st 'presumptive' case of COVID-19

  New Brunswick records 1st 'presumptive' case of COVID-19 The first case of the novel coronavirus has been reported in New Brunswick, the Department of Health says.This is the first case of COVID-19 that has been confirmed in all of Atlantic Canada.

Malaysia has reported 19 cases of the virus. Still, hundreds of staff and temple workers along with two dozen ambulances stood by. You can choose on each post whether you would like it to be posted to Facebook. Your details from Facebook will be used to provide you with tailored content, marketing

When a clinician suspects novel coronavirus ( COVID - 19 ), they take samples from the nose, throat and deeper respiratory samples, package and send them safely to PHE Colindale. It will take only 2 minutes to fill in. Don ’t worry we won’t send you spam or share your email address with anyone.

WATCH: Ontario's ex-chief medical officer says a recession could kill more people than the coronavirus:

"Our world has become so interconnected," says Jia Wong, deputy director of the University of Alberta's China Institute.

Wong suggests that the next few weeks will be critical, showing whether the epidemic, with its global economic impact, is moderating or getting worse. Early reports that the spread of the disease was slowing were cast into doubt last week when China reported 5,000 new cases and global deaths leapt past 1,500.

Fear and government restrictions mean people in China have been staying home, slashing the business of retailers and restaurants. Some reports say property sales are down by more than 80 per cent, affecting a business that represents about one-quarter of China's gross domestic product.

Wong says that while the country's giant companies are big enough to outlast the crisis, especially with government help, a significant and dynamic part of China's economy is based on much smaller businesses that could disappear, leading to lingering economic effects.

Second Cup stops accepting cash amid COVID-19 pandemic

  Second Cup stops accepting cash amid COVID-19 pandemic "We are operating from an abundance of caution," says CEO of Canadian coffee chain."While we know the risk level in Canada is currently considered low, we are operating from an abundance of caution," company CEO Steven Pelton said in a statement tweeted out on Friday.

Beijing announces strict COVID - 19 measures. Beijing, meanwhile, announced new strict rules for returnees in the capital's latest bid to contain the virus. Anyone returning to the city will be subject to a 14-day quarantine or risk punishment, ordered its virus prevention working group late on Friday.

From the very beginning, should have just closed the friggin' border!!! First, it was the perceived mismanagement by the government over the issue over PMDs.

Survival at stake

"If the quarantines and shutdowns of many cities around China continue for a few more months or even just one month, many of the smaller companies may not survive," she said.

Wong says there are also worries that the coronavirus and its economic effect will spread outside China. Last Friday, Singapore's president, Lee Hsien Loong. warned the disease could push that country into recession.

Putting a figure on the global impact is not easy, and estimates of the damage vary widely. Oxford Economics says global growth will fall to 2.3 per cent in 2020, the lowest level in more than 10 years and below the IMF's global recession level.

Last week Canada's Parliamentary Budget Office suggested the epidemic would eat into Canada's growth rate in the first three months of the year chopping off 0.3 percentage points.

That worries Brian Kingston from the Business Council of Canada, especially when no one knows when the crisis will end.

a large white building: Floating prison? This cruise ship spent two weeks at sea running out of supplies after being turned away by five countries over fears that someone aboard might be infected.© Soe Zeya Tun/Reuters Floating prison? This cruise ship spent two weeks at sea running out of supplies after being turned away by five countries over fears that someone aboard might be infected.

"And remember that China is our second most important export destination," Kingston told Piya Chattopadhyay on CBC Radio's Metro Morning.

PM says financial supports on the way to help 'millions of Canadians' get through COVID-19 crisis

  PM says financial supports on the way to help 'millions of Canadians' get through COVID-19 crisis PM says financial supports on the way to help 'millions of Canadians' get through COVID-19 crisisIn an interview with Toronto's 680 News, Trudeau said the government will act fast to put money in the pockets of Canadians, including employment insurance supports and direct income supports for those who don't qualify for employment insurance.

BMO economist Jennifer Lee says the bank has again downgraded the Chinese economy due to fading optimism that the country can get its factories geared up as soon as it had hoped.

"We've shaved Q1 and Q2 growth," said Lee, "given how long the shutdowns are lasting."

Lee says the bank still expects China to rebound from the economic malaise, though BMO now puts Chinese full-year growth for 2020 at 5.3 per cent. That is far below the previous consensus that China would grow this year at between six and 6.5 per cent.

Fleeting effect?

But Lee says it is common for economies to rebound even after the sharpest decline. For example, a month of storms may mean Canadians stay home from the shops, but the money they didn't spend in one month they can spend in the next, causing what looks like a boom.

That depends on how much damage is done and whether it can heal. And Lee says the duration of any interruption in business makes all the difference. She says that after the SARS outbreak in 2003, the Canadian economy bounced back with very little overall damage.

"I don't think anyone has any idea of whether or not this is going to be resolved any time soon," said Lee.

Just as in the recent trade war, uncertainty may be having a paralyzing effect on businesses that are waiting to see whether the availability of parts and the demand for copper and Canada Goose coats will bounce back before firms are forced to completely change their strategies.

For some businesses, even a speedy recuperation of the global economy may not wash away the business impact of COVID-19.

The special deals already being offered by cruise lines for summer packages may not be enough to cleanse the lingering image of people being trapped for days on a plague ship in windowless rooms in what for many became floating prisons.

Follow Don on Twitter @don_pittis

Alberta's first COVID-19 death believed to be through community transmition to man in his 60s .
EDMONTON — Alberta has recorded its first death due to the COVID-19 outbreak, bringing the national total to 11 people who have succumbed to the illness. Dr. Deena Hinshaw, the province’s chief medical officer of health, made the announcement at a Thursday afternoon press conference in Edmonton. The person who died was a man in his 60s who had unspecified underlying health conditions; Hinshaw declined to elaborate, citing confidentiality reasons. “This is a dangerous virus,” Hinshaw told reporters.

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