As panic hoarding sweeps Auckland after the first case of the virus is announced in NZ, the Dow Jones plunges another 356 points while Bill Gates, who is one of the most informed people on viruses due to his work against malaria, has just come out and said that the coronavirus is the ‘once-in-a-century’ pathogen he has feared…
Philanthropist Bill Gates on Friday urged wealthy nations to help low and middle-income countries strengthen their health systems in hopes of slowing the spread of the coronavirus, which Gates said has started to behave like a “once-in-a-century” pathogen.
Maybe if China had been upfront about what was happening when it was happening, we wouldn’t be in this place.
This isn’t a woke identity politics issue, it’s always been a public health danger and economic threat.
This hasn’t become a full blown pandemic yet, but it has been upgraded to a threat level just below it and if pandemic happens, things get worse.
We have not understood the risk of just-in-time supply chain models and the stress that will cause the economy if they don’t turn up just in time.
This could well be the moment when all our black swans come home to roost.
As TDB pointed out at the beginning, we are under-estimating the impact of a novel virus pandemic.