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A COVID-19 Emergency Response Plan

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WILSON, WYOMING – The COVID-19 epidemic is accelerating, and as the new coronavirus approaches pandemic status, it is increasingly likely that the economic impact will be severe. Alongside intensifying public-health responses, governments must step in to mitigate the virus’s impact on growth, employment, and living standards.

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    There are three reasons to worry that COVID-19 will hit the global economy hard. First, regional and national travel restrictions will curb the flow of goods and services across borders and within countries. This is already happening in China, where growth forecasts for the first half of 2020 are being slashed. As the world’s second-largest economy and home to much of the global supply chain, China’s slowdown is already being reflected in large........

    © Project Syndicate