Email ABC Radio National By Nick Wiggins and Georgia Power for The Economists Updated March 05, 2020 06:52:06 Photo: Experts say more and more industries could feel the impact of coronavirus in the coming weeks. (ABC RN: Nick Wiggins) Related Story: Debt is the timebomb on global markets, coronavirus just lit the fuse Related Story: Coronavirus crisis sees RBA slash interest rates to new low of 0.5pc Related Story: Supermarket shelves stripped bare as Australians prep for coronavirus spread Map: Australia The human cost of coronavirus is stark — more than 3,000 deaths, tens of thousands of people testing positive, more still worried about the threat of a pandemic.There’s also been an economic cost — markets have plunged, and industries are feeling the pain.But how bad will the financial fallout be? How would you measure that? And why does it matter?Warwick McKibbin is the man the World Health Organisation (WHO) called on to model the impact of the SARS disease. He and fellow economist Jong-Wha Lee later estimated the cost of that outbreak to the global economy to be $40 billion.The COVID-19 outbreak is already looking worse. Photo: Markets around the world have taken significant hits as the epidemic has… Read full this story
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Coronavirus will hurt the global economy — but how do you model the cost? An economist explains have 336 words, post on www.abc.net.au at March 5, 2020. This is cached page on Drudgereport. If you want remove this page, please contact us.