US News Opinion: The Corona Economic Monopoly

18:00  30 october  2020
18:00  30 october  2020 Source:   dw.com

Jens Spahn: "So far only developed cold symptoms"

 Jens Spahn: © photocosmos1 / Shutterstock.com Health Minister Jens Spahn has Corona. The coronavirus continues to spread. Health Minister Jens Spahn (40) has now tested positive. The Ministry of Health announced on Wednesday (October 21). So far only cold symptoms have occurred. The 40-year-old immediately went into domestic isolation, it said. Spahn is the first federal minister to be proven to have been infected with the corona virus.

The new and only partial lockdown for Germany does not initially hit the economy as hard as it did in spring. Nevertheless, Henrik Böhme is certain that it will slow down the upswing significantly.

Ein Arbeiter schweißt beim Maschinenbauer Voith an den Schaufeln einer Wasserturbine © picture-alliance / dpa / S. Puchner A worker at the machine builder Voith welds on the blades of a water turbine

Many restaurateurs across the country no longer understand the world. Most of them have adhered to the strict hygiene requirements, have invested in outdoor heating and ventilation systems, have set up tents to get through autumn and winter to some extent - and now that. Locked up again for four weeks, no guests. No revenue. What comes next: uncertain. The displeasure is understandable. However, it becomes difficult with the argument: Nobody was infected with us! (This is also what the cinema operator, the theaters, the railways and the airlines say - all supposedly safe seats.) But that's exactly where the crux lies. Because this damned virus is too refined and the force of the wave has long meant that you can hardly understand who was infected where.

Health Minister Jens Spahn: "With some rules you ask yourself: Do they actually fit together?"

 Health Minister Jens Spahn: In Germany, a new maximum value for detected new corona infections was reached within one day: According to information from the RKI on Thursday (October 22, 2020), the health authorities reported 11,287 new cases. The fear of a renewed shutdown of public and economic life is growing steadily. But Health Minister Jens Spahn (40) recently gave the all-clear. " I don't see a second lockdown, as it is always meant," , he explained in an interview on Jodel. © Provided by BUNTE.de What are the conse

This fact alone is a tragedy for one of the largest economies in the world, where health authorities still partly send their data to the Robert Koch Institute by fax (for the younger generation: this is used to send documents over the analog telephone network, invented in 1843) Submit institute. And contact tracking would certainly be much easier if the Corona warning app were allowed to collect more data. But where data protection is more important than health protection, this is not possible. Welcome to the digital age!

Fair compensation

But back to the economy: At least the federal government opened the box at the same time as the announcement of the new measures - and promised quick and unbureaucratic help. Loss of sales (based on November 2019) should be offset by up to 75 percent. Hand on heart: That should be a pretty good cut for many of those affected. Because it can be assumed that in view of the dramatically increasing number of infections, even without lockdown, not too many people would have come to the restaurants

send-in kit for around 60 euros: drugstore chain dm sells antibody test online

 send-in kit for around 60 euros: drugstore chain dm sells antibody test online 48 hours after receipt of the laboratory result: Corona antibody tests are now available online from dm. Laboratory doctors warn against the self-tests. © Photo: dpa / Michael Kappeler Medical staff checks a rapid test for corona antibody detection. The laboratories in Germany do not come to with the many corona tests, at the same time many people want to avoid visiting the doctor for fear of corona infection.

Video: Christmas markets in the pandemic - an overview (dpa)

Henrik Böhme, DW-Wirtschaftsredaktion © Provided by Deutsche Welle Henrik Böhme, DW -Wirtschaftsredaktion

The figures with which the responsible branch association Dehoga operates (according to which a third of all businesses are in acute danger of being closed due to the renewed compulsory closure) should also be treated with caution. The credit agency Crif Bürgel - which has taken a closer look at the figures of over 57,000 catering companies - currently sees around 14 percent as at risk of insolvency. For the first quarter of next year, around a fifth of the companies are at risk. There are still thousands of jobs that are on the verge of failure - that is why state aid is so important to keep as many jobs as possible in this sector too. The same applies to the cultural sector and the event industry as a whole.

No recovery if the pandemic progresses

But what does the partial lockdown mean for the entire German economy? The augurs, too, are careful with their assessment. Because they also don't know what the virus is doing and whether the drastic reduction in contact will bring the hoped-for success. One thing is clear: a wonderful number like plus 8.2 percent (new German record) - that is how much the German economy grew in the third quarter compared to the previous quarter - will not be there again anytime soon.

Corona cases: Front runner Viktoria does not play - TeBe in quarantine

 Corona cases: Front runner Viktoria does not play - TeBe in quarantine In the Regionalliga Nordost, two games had to be canceled again on Tuesday due to corona cases. Leader Viktoria Berlin's game in Fürstenwalde is also affected. © imago images Tested positive: Viktoria attacker Enes Küc. On Tuesday afternoon, the Berlin duel between TeBe Berlin and Hertha BSC II was canceled. The reason was a corona case with a TeBe player. The entire Charlottenburg squad has gone into quarantine at home, which will last until November 6th.

All in all, it will be decisive whether people continue to shop despite the restrictions (the consumer climate!), Whether the industry can continue to produce (if too many employees don't get sick) and whether it can continue to sell its products on the export markets (because the pandemic is again causing great concern in our neighboring countries). At the moment, in any case, the experts see the risk for the current quarter that economic growth will come to a standstill again. For the entire year, the statistics should then probably show a minus of five percent or a little more. Not pretty, but no drama either.

So the pandemic remains a gigantic learning process for everyone. For research and medicine anyway, for politics even more, for the economy, which can demonstrate its adaptability here - and for people who have to learn to live with the virus. But one thing is clear above all: if we don't get the pandemic under control, there can be no economic recovery.

Author: Henrik Böhme

management expert warns: "We have to finally face the 'New Normal'" .
management expert Stefan Lammers denounces that managers in some places are trying to sit out the corona crisis. Managing at a distance from the home office must be normal. © Shutterstock Covid-19 pandemic: The corona crisis is turning into a leadership crisis. The second Covid-19 wave also means a second home office wave.

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