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  • The race for COVID testing: who will be victorious?

    Niru Kalyanaraman BEIJING: A Chinese company enters the long-winded global race for the COVID vaccine. Setting expectations by claiming that its “flash 20” testing machines supposedly give faster than a lab with increased reliability. Its promises do seem hopeful. However, there is still an inkling that this seems ...utopian. The ‘flash 20’ is one of many contenders for the global COVID testing race, and so far it seems to have gotten a head start! With hospitals and airports using this testing method, and the European Union and Australia approving it, this is undoubtedly a contender to look out for. Meanwhile, on the other side of the world, on Monday (September 28th) the American President announced the distribution of 150 million rapid coronavirus testing kits which can purportedly deliver results within 15-30 minutes. With both nations having prior political rifts and a “healthy competitive spirit” it is no surprise that we should anticipate more innovative developments within the market so that in the spirit of a free market, the “best product will win”. On a more informative note, it is essential to note that rapid diagnostic testing kits like these do offer an enticing and instantly gratifying alternative. Nonetheless, with all revolutionary ideas, scientists propose that these ideas are to be taken “with a grain of salt” as they state these kits are not only to be less sensitive but also more likely to return false negatives. Innovations will change and adapt, but the real question persists, which nation will attain the glory of producing the first vaccine? Only time will tell.

  • Was this truly #justiceforbreonnataylor ?

    Tara Lohani On March 13th, 2020, a young African-American medical technician was shot dead by three police officers in the safety and comfort of her own home. Her name was Breonna Taylor, a name that has since become familiar to the entire world and has prompted demonstrations and protests across the US. Brett Hankinson, alongside officers Myles Cosgrove and Jon Mattingly, entered Taylors home shortly after midnight through a no-knock search warrant, which allows officers to enter a premise without announcing presence or purpose. Authorities believed that her home was being used as a hideout for narcotics. Kenneth Walker, Ms Taylor's partner, fired a shot from his licensed gun, believing the three police officers to be burglars. In retaliation, the three officers fired 32 rounds. Breonna Taylor was shot eight times. Breonna’s family has been demanding justice for months, filing a lawsuit accusing officers of battery, wrongful death, excessive force, and gross negligence. Hankinson was fired on account of ‘blindly’ firing ten rounds into Taylors apartment, and thus displaying ‘extreme disregard for human life’. Cosgrove and Mattingly were placed on administrative reassignment. Recently, Breonna’s case was presented in front of a grand jury by Kentucky Attorney General Daniel Cameron and his team of prosecutors. No officer was charged for Taylor’s actual killing. Instead, Hankinson alone was charged on three counts of first-degree wanton endangerment for the shots that entered a neighbors home. What is wanton endangerment? Wanton endangerment is classified as a class D felony in Kentucky- i.e, the lowest of four classes of felonies, with the maximum sentence being five years and the minimum being one. Someone “is guilty of wanton endangerment in the first degree when, under circumstances manifesting extreme indifference to the value of human life, he wantonly engages in conduct which creates a substantial danger of death or serious physical injury to another person." The charges are not directly tied to Taylor’s death- according to Kentucky attorney, general daniel Cameron, “There is no conclusive evidence that any bullets fired from Detective Hankinson’s weapon struck Ms. Taylor.” Mattingly and Cosgrove are not facing any charges. Essentially, this means that the only charge that has been indicted is for the bullets that missed. As a result, several have taken to the streets and to social media to protest, their anger and frustration palpable. “We are in shock. This city has failed us. Our leadership has failed”, says stachelle bussy, a regular protester. For those who have been rallying and demanding for systemic change, the announcement has been received with bitter disappointment- especially by Taylor’s family. According to Ben Crump, the family attorney, and representative, the announcement is another example of how white officers aren’t held accountable, simply because of the color of their skin. "The rallying cries that have been echoing throughout the nation have been once again ignored by a justice system that claims to serve the people. But when a justice system only acts in the best interest of the most privileged and whitest among us, it has failed."

  • What is the Anti-Terror Bill?

    Nandini Krishnan On July 3rd, President of the Philippines, Rodrigo Duterte, signed a controversial anti terrorism bill that drew large amounts of criticisms and protests from rights groups. The bill replaces that created in 2007, and broadens the definition of the term “terrorism”. Amnesty International has released a statement that asks “the Philippine government to reject this legislation that contains dangerous provisions and risks further undermining human rights in the country”. Human rights activists have also noted that this law might lead to damage against political opponents, given his administration’s record of violent tactics against drug suspects and those critical of the government. The president’s spokesmen went on the record and justified the bill by stating the “ the fight against terrorism requires a comprehensive approach.” However, the National Union of Peoples’ Lawyers has stated that they would challenge the legislation, describing it as “the most unpopular and perilous piece of legislation that could ever be pushed by” the government. The passing of the bill came at a particularly turbulent time, with Maria Ressa, CEO and executive editor of Rappler, a news website that has been critical of Duterte, convicted for cyber libel only a month prior. Only days before the bill was signed, four people who were thought to be militants with links to the Islamis State were killed by the police in a raid in Manila. While many countries have anti-terrorism billls, under this law, terrorism suspects may be detained for 2 weeks without any charge, and this time period may be increased to 24 days. This is significantly longer than the three days stated in the constitution, and human rights lawyers worry this may be weaponized against those who criticise government. What has been criminalized? The text notably states that those who are seen to be inciting others into acts of terrorism through “speeches, writings, proclamations, emblems, banners, and other representations tending to the same end” will also responsible, essentially threatening rights to freedom of speech. While it has been said that activism will not be condemned, many worry that the criteria for these mediums to be “a serious risk to public safety," is too loosely defined, and could essentially allow for these actions to be criminalised. Furthermore, calls to action in the form of protests or rallies may be seen as provocative and could be seen to influence people to commit the acts of terrorism outlined in the bill. This may be especially true for large protests that are organised against the government. Additionally, they may also be seen as intent to risk public safety. This means that even if there are no injuries or damage to public property, the emphasis is only placed on intent to do so. Many worry that this idea of “intent” can be misconstrued and allow for the government to abuse the power that has been given. Phil Robertson, deputy Asia director for Human Rights Watch, has said that “"By signing the anti-terrorism bill into law, President Duterte has pushed Philippine democracy into an abyss”.

  • CORONAVIRUS: 20/03/20 UPDATE

    By: Reet Lath UPDATES FROM AROUND THE WORLD: – China reported no new cases locally, which is a huge milestone in the outbreak – The death toll from COVID-19 in Italy (3,400+) is now higher than in China (3,200+) UPDATES FROM SINGAPORE: – Wednesday (18th): 47 new cases were reported in Singapore which is the highest since the beginning of the outbreak – Thursday (19th): 32 new cases were reported overnight; 75% were imported from overseas, but 8 are local cases (mostly linked to the cluster at Boulder + Gym) Click here for a comprehensive list of the countries which have closed their borders to all non-locals in an attempt to prevent the spread of COVID-19 Click here for some helpful statistics on the spread of coronavirus As always, stay safe, stay indoors, and wash your hands – if you're questioning the futility of these measures, watch this video from 6:25.

  • CORONAVIRUS: 21/03/20 UPDATE

    By: Reet Lath TODAY'S TOP NEWS - LARGEST SINGLE DAY DEATH TOLL EVER: 627 dead in 24 hours in ITALY - military called in to enforce coronavirus lockdown after this drastic statistic - all UK public entertainment zones (bars, cinemas, theaters) close TONIGHT - 40 NEW CASES IN SG confirmed overnight - 16 in ICU - SG implementing stricter social distancing measures - public spaces such as restaurants or cinemas are required to ensure at least 1m separation between all patrons - All events and gatherings with 250 or more participants are to be suspended until June 30 - US-Mexico and US-Canada border is closing to all non-essential travel - Starbucks is closing its cafes in US - member of MIKE PENCE'S OFFICE TESTED POSITIVE - however not known to have had any recent contact with Trump or Pence - markets have suffered their WORST WEEK since the Great Recession of 2008 - For the 3rd day in a row, no new confirmed or suspected cases have been reported in Wuhan - huge milestone; shows China may be recovering from the worst of the crisis - EU can't say the same Look here to see all the countries which have barred foreign visitors and are officially closing borders to all non locals. Click here to see helpful statistics on the coronavirus spread. Click here for more detailed numbers on the virus worldwide. A comprehensive list on all cancelled events worldwide. As always, stay safe, stay indoors, and wash your hands - if you guys are wondering about the futility of these instructions, watch this video from 6:25. CREDIT: NEW YORK TIMES https://www.nytimes.com/interactive/2020/03/20/us/coronavirus-model-us-outbreak.html?te=1&nl=coronavirus-briefing&emc=edit_cb_20200320&campaign_id=154&instance_id=16959&segment_id=22468&user_id=40a8575557420530d5153e3ffa88c497®i_id=112154682 A haunting graphic depicting how the coronavirus situation in the US could progress depending on the level of cooperation by the citizens. Just another reminder about how important it is for us all to be vigilant and to do our part.

  • CORONAVIRUS: 22/03/20 UPDATE

    By: Reet Lath KEY TAKEAWAYS: Today, Italy experienced the highest single day death toll since the start of this pandemic, with 793 COVID-19 related deaths overnight – Italy has now become the epicentre of this pandemic; whilst cases and fatalities from COVID-19 in China have declined significantly, they are rising exponentially in Italy Yesterday, Singapore experienced its first two COVOID-19 related deaths – The victims were a 75-year-old Singaporean woman and a 64-year-old Indonesian man – Both had a history of heart disease, and the man had been hospitalised for pneumonia prior to his arrival in Singapore 47 new cases were reported in Singapore overnight; 39 imported, 8 local Universal Dilemma: Hospitals are Beginning to RATION SUPPLIES – Hospitals throughout the world are being forced to evaluate who should receive treatment and who shouldn't due to a shortage of medical supplies (such as intubators) and hospital beds – Countries like Italy, the USA, and Spain are already starting to standardise the approach to dealing with the overwhelming influx of patients – Factors such as age, health, and life expectancy are being used to determine who should be treated, and essentially who lives (i.e. who is more of a 'value to society') – These decisions have sparked extreme controversy; click here to learn more about the moral dilemma facing Italian doctors Click here for a comprehensive list of the countries which have closed their borders to all non-locals in an attempt to prevent the spread of COVID-19 Click here for some helpful statistics on the spread of coronavirus Click here for more detailed numbers on the pandemic Here is a comprehensive list on all cancelled events worldwide. As always, stay safe, stay indoors, and wash your hands – if you're questioning the futility of these measures, watch this video from 6:25 It is of utmost importance to mitigate the spread of this virus, and this can only be done if we do our part. See this video on why the spread of COVID-19 depends on US.

  • CORONAVIRUS 24/03/20: UPDATES

    By: Reet Lath ABOUT COVID-19 – The World Health Organisation (WHO) has confirmed that COVID-19 is spread primarily through droplets – While there have been rumours going around that the virus is airborne, this seems unlikely – A new symptom has been identified: the loss of smell ('smell blindness' or anosmia) FROM AROUND THE WORLD: – Boris Johnson, the British Prime Minister, has issued a stay-at-home order across the nation, banning people from leaving their homes except for a few 'very limited' reasons such as shopping for necessities and providing medical services; he has also said police may be used to enforce these measures if they are not followed – The majority of India's population is staying at home, with a nationwide curfew from the hours of 7 am to 9 pm ('Janta curfew') yesterday; whilst the number of cases are below 500, the Indian government wants to manage the crisis before it spreads rampantly – The state of New York now has over 20,000 cases, which is 6% of the world's total COVID-19 cases – Airlines are drastically reducing flights, with at least 65 airlines cutting their flights by around 95% SINGAPORE – Yesterday, 54 cases were confirmed in Singapore; this is the highest single day spike – Singapore has developed a coronavirus tracing app called 'TraceTogether' which uses bluetooth to track who novel coronavirus patients have come in close contact with and notifies the users of the app if they have potentially been exposed to the virus – Whilst schools, restaurants and stores in Singapore remain open, the government has banned all short-term travel (tourism) to the nation and tightened travel restrictions on work-pass holders It is more important now than ever that we take action as a community. Click here for a comprehensive list of the countries which have closed their borders to all non-locals in an attempt to prevent the spread of COVID-19 Click here for some helpful statistics on the spread of coronavirus Click here for more detailed numbers on the pandemic worldwide Here is a comprehensive list on all cancelled events worldwide. As always, stay safe, stay indoors, and wash your hands – if you're questioning the futility of these measures, watch this video from 6:25 It is of utmost importance to mitigate the spread of this virus, and this can only be done if we do our part. See this video on why the spread of COVID-19 depends on US.

  • CORONAVIRUS: 25/03/20 UPDATE

    By: Reet Lath SINGAPORE - as of yesterday, there are now 49 NEW CASES - 32 imported, 17 local - MOH also announced last night that all entertainment outlets will be closed (no clubs, cinemas, karaoke outlets - however RESTAURANTS ARE STILL OPEN - need to reduce crowd density to stay open) - gatherings outside work and school will be limited to 10 people or fewer - social distancing measures are still continuing to be enforced, with people having to keep at least 1m apart - All religious services are also to be stopped - malls, museums and restaurants have to impose strict crowd density control measures in order to remain open. - sorry Divesh, but it has also been announced that all tuition centres also have to be suspended - intermingling of international students is a risk the government doesn't want to take - NEW WAVE OF STRICTEST MEASURES IMPOSED BY THE GOVERNMENT YET. - these measures are due to come into effect on Friday midnight - likely to be in place for a month, at least Credit: Straits Times Also, if you are someone who believe that COVID-19 only affects the old, here is an infographic for you, courtesy of the Straits Times: Credit: Straits Times WORLD - Olympic Games postponed to July 2021 - Trump announces he wants USA back up and "rearing to go" by April 12 - amid strong warnings by experts that this is NOT advisable - New York cases soar - 25,000 - cases are DOUBLING EVERY THREE DAYS - INDIA GOES ON A 21-DAY LOCKDOWN; - Modi has ordered the entire population of India to stay at home for 3 weeks - "If you can't handle these 21 days, this country will go back 21 years", Modi said in his speech to the nation - although India's cases are currently below 500, a explosion that countries like the USA are facing would be uncontainable in India due to its 1.3 billion population - implementing drastic measures in order to prevent the possibility of spreading - many are worried as to how the various societies will access food and necessities, but Modi has yet to be clear on how this will be effectively handled - mentioned government stepping in to distribute resources - although many are panicking about what this means, it is important to note that RATION SHOPS, GROCERY STORES, and MEDICAL ESTABLISHMENTS WILL CONTINUE TO REMAIN OPEN DURING THE LOCKDOWN (commercial and private establishments will be shut down) It is more important now than ever that we take action as a community. Credit: Straits Times Click here for a comprehensive list of the countries which have closed their borders to all non-locals in an attempt to prevent the spread of COVID-19. Click here for some helpful statistics on the spread of coronavirus Click here for more detailed numbers on the pandemic worldwide Here is a comprehensive list on all cancelled events worldwide. As always, stay safe, stay indoors, and wash your hands – if you're questioning the futility of these measures, watch this video from 6:25 It is of utmost importance to mitigate the spread of this virus, and this can only be done if we do our part. See this video on why the spread of COVID-19 depends on US.

  • COVID-19 In Iran: Mismanagement & Sanctions

    By: Kimaya Ghoge The Situation in Iran With a death toll behind only Italy, China, and Spain, Iran is one of the hardest-hit countries by the COVID-19 virus. As of the 23rd of March, the Iranian Ministry of Health had reported more than 23,000 cases and 1,812 deaths – figures which, according to the World Health Organisation (WHO), could represent only a fifth of actual incidences due to testing being restricted to severe cases. Iran’s soaring COVID-19 mortality rate is made even more alarming by the fact that 15% of those who died were under the age of 40. This is unprecedented considering that in China, the death rate for patients under the age of 50 was below 1%. The Iranian Government’s Response The Iranian government has long faced allegations of mismanaging the outbreak. In the early stages of the pandemic, inconsistencies between reports from local lawmakers & medics and those from the central government piqued suspicions that the government was downplaying the magnitude of the crisis. Iranian officials maintained that the outbreak “[wouldn’t] affect the country for long and [would] leave”, and were accordingly lax with measures to combat its spread. Even after flights to and from China were banned in early February, the Iranian Revolutionary Guard Corps (IRGC) owned airline Mahan Air continued conducting such flights, supposedly to honour an unspecified ‘bilateral agreement’. Schools and universities did not close until late February, and whilst locals in many provinces have closed entry points to prevent the virus’s spread, no major cities have been quarantined to date. Shrines in the holy city of Qom – the epicentre of the outbreak in Iran – remained open until last week, with clerics urging pilgrims to visit as a means of ‘[healing] from spiritual and physical diseases’. Whilst Iran has augmented its policies to limit the spread of COVID-19 infections in recent days, with celebrations for Iranian New Year (Nowruz) underway and no plans to quarantine coronavirus hotspots, questions remain on the government’s ability to handle the crisis. To an extent, the Iranian government’s management of the outbreak was likely affected by politics. The onset of the pandemic in Iran coincided with Iran’s parliamentary election on the 21st of February – by acknowledging that the nation was on the verge of an epidemic, the government risked participation in the election which would have hurt the regime. There are also indications that Iran’s close relations with China influenced the government’s response to the virus. Iran’s strategic partnership with China has been imperative in keeping its economy alive amidst US sanctions over the past two years. Given Iran’s economic isolation and dependency on China, it is unsurprising that the government was hesitant to immediately cut off trade and travel between the two nations. However, the government of Iran staunchly denies that its handling of the issue was politically motivated. It claims that it is doing everything in its ability to prevent the spread of the virus, having recently cancelled the main weekly Friday prayers and suspended Parliament following an anomalous number of COVID-19 cases amongst senior government officials. As of Sunday, major shopping malls have also been closed for two weeks. Officials defend the government’s decision not to quarantine cities by describing it as a ‘thing of the past’ and explaining that Iran does not have the supplies necessary to support a lockdown of such a scale. The role of the US Iran’s president, Hassan Rouhani, attributes the shortages of medicines and equipment which have hindered Iran’s ability to contain and cure the disease to US sanctions which have crippled the Iranian economy. Not only do US sanctions prevent Iran from selling oil on the international market, they also threaten companies and banks who assist Iran with sanctions and legal action. The US has denied that their sanctions impede Iran's ability to provide its citizens with adequate healthcare, citing exemptions for humanitarian aid through legitimate channels. However, as the Human Rights Watch pointed out, “these exemptions have failed to offset the strong reluctance of US and European companies and banks to risk incurring sanctions and legal action by exporting or financing exempted humanitarian goods” and hence do “deny Iranians access to essential medicines”. Last week, both China and Russia called upon the US to lift sanctions on Iran, referring to them as ‘anti-human’. The Trump administration, however, has made it clear that the US has no intention do so and last Wednesday, imposed further sanctions, blacklisting five companies for doing business with Iran’s petrochemical sector. Maintaining that the sanctions do not hamper Iran’s ability to combat the outbreak, the US Secretary of State, Mike Pompeo, claimed that the US had offered to aid Iran in fighting the coronavirus epidemic. However, this Monday (the 23rd), Iran’s Supreme Leader rejected any help from the US, referring to a conspiracy theory that points towards the virus being manufactured by the US. Instead, for the first time in six decades, Iran has approached the International Monetary Fund (IMF) for emergency assistance amounting to $5 billion. Theoretically, the US, which is on the IMF’s decision board, could veto the request under President Trump’s ‘maximum pressure’ policy. However, there has been no explicit indication that they intend to do so. In a notice released this Monday, the US blamed the Iranian regime’s lack of transparency for the plight of the Iranian people and condemned ‘Chinese and Russian propaganda that misleads the public into thinking US sanctions are to blame’.

  • What Now for RBG's Legacy?

    By: Lea Salim (https://www.npr.org/2020/09/18/100306972/justice-ruth-bader-ginsburg-champion-of-gender-equality-dies-at-87) Who was the “Notorious RBG”? Ruth Bader Ginsburg was a progressive feminist icon, a fierce advocate for gender equality, and a bulwark for protecting abortion rights amongst many more. The legendary United States Supreme Court Justice passed away the night of September 18 at 87 years of age in her home in Washington D.C., due to complications of pancreatic cancer. After an astounding and eventful career as a jurist, the Brooklyn-born lawyer was appointed to the United States Supreme Court by Bill Clinton in 1993, making her the second ever woman and first Jewish woman to sit on the high court. American citizens and fans globally mourn the loss of the the force that was and will forever be Ruth Bader Ginsburg, having witnessed her surmount case after case in the battle for gender equality in the workplace and under all forms of legislation, from ensuring access to abortion by repeatedly upholding Roe vs. Wade, to allowing widowers to receive the same benefits as widows. However as much as the world must take the time to honour RBG, in the background looms the ever nearing uncertainty of the Presidential Election in November, and now a furious battle over a Supreme Court vacancy -- all in the midst of a pandemic that is inflaming an already deeply polarized nation. What happens now that she has passed? The US Supreme Court is the highest tribunal in the Nation for all cases arising under the American Constitution. Currently there are eight fixed positions for Associate Justices on the court, and the power to nominate the Justices lies solely with the US President, following appointments with the guidance of the US Senate. It is safe to say that US President Donald J. Trump is eager to fill Ginsburg’s seat immediately, this being a further opportunity for the Republican Party to assume power in the form of representation in the highly influential court. Furthermore it is becoming increasingly apparent that the Trump Administration views this as a chance to regress and remove the progressive voice that was RBG from the court to replace it with a starkly contrasting conservative perspective. In terms of policy change and a general shifting of lenses, increasingly figures within the legislative sphere are now moving to evaluate and criticise Ginsburg’s trademark policy moves, leaving an ideological void that is entirely up for debate. Meanwhile Democrats and other progressive politicians and voters are urging ardently for the Congress to delay the appointment of the eighth Supreme Court Judge until after the 2021 inauguration. This was, after all, Ginsburg’s last request, as a statement put out by her granddaughter read that “My most fervent wish is that I will not be replaced until a new president is installed.” Several petitions are circulating the realms of social media, one initiative by ‘MoveOn Political Action’ having reached an impressive half million signatures in a single day. What changes will be made to the process are unclear still. Meanwhile, however, Trump has publicly announced that his final nominee will be 48-year-old Judge Amy Coney Barrett.

  • Brazil: Rio's Police Killings

    By: Nandini Krishnan Brazil’s president, Jair Bolsonaro’s time in office has seen him wage a war against crime. He has previously stated that he hoped criminals “die in the streets like cockroaches”— and unfortunately with police killings in Rio De Janeiro at a 20 year high in 2019, he might have been successful. More recently, with the use of brute and often lethal force, police killings accounted for more than 2,000 deaths in Rio since the start of last year. While COVID-19 cases in the country soar (it currently has the second highest number of cases worldwide, after the US), the police are still continuing to raid favelas, the country’s informal squatter settlements, and conducting raids. These operations have left many dead— 13 were killed in a favela in an operation that was aimed at locating drug traffickers. While 5 were suspected traffickers, the deaths of the other 8 lacks any kind of explanation. While the country doesn’t have a death penalty, these killings completely ignore the due process that people must go through for conviction. A New York Times report found that while lethal force is only allowed to be used by the police in the case of an imminent threat, however, around 48 of the killings they analysed showed people were shot in the back, raising questions regarding how closely these laws are followed. Furthermore, police officers who are on trial for murder still continue to serve on duty. Unfortunately, mandatory laws that require forensic experts to investigate the scenes of fatal shootings are largely ignored. The families of many victims are also scared to report anything due to the fear that the police will retaliate against them. Forensic teams often lack adequate budget for vital equipment like Luminol. All of these factors combined make it incredibly hard for the police force to be held accountable for even flagrant offenses. However, there is some action being taken against them. Dani Monteiro, a state deputy, has proposed a bill that would halt police operations during the quarantine periods. A human rights convention led by leftwing congresswoman Reneta Souza is currently reviewing audio and video evidence that show police violation of the rights of residents in the Alemão favelas. Monteiro has also said that the “‘war on drugs’ has been the pretext for which the State operates in this society, and the result is the genocide of black youth.” This is because black and mixed race youths are often disproportionately targeted by both homicides and police killings. All of this results in the emergence of a strong anti-police sentiment, and this can mean many youths continue to join the drug trade and gangs in Brazil.

  • The Economic Effects of COVID-19

    by: Tara Lohani COVID-19 is a disease that had originated from Wuhan, China, caused by a newly discovered coronavirus. Labeled as a pandemic by WHO, the virus is thought to have developed from the Wuhan seafood market. The virus has made headlines since the beginning of 2020, as worry arises due to its rising death rate and increasing international spread. Stock market effect The virus has had a severe impact on stock markets: the Dow Jones Industrial Average (or just simply referred to as the Dow) and FTSE (Financial Times Stock Exchange) have witnessed the biggest one-day declines since 1987. The FTSE-100 is a UK-based index that monitors the stock performance of 100 of the biggest companies listed in the UK market currently and has sunk by 5.4% (313.31 points). The Dow is a US-based index and monitors the stock performance of 30 major companies in the U.S. Central banks in several countries all across the world have cut down on interest rates, in an effort to stimulate economic growth. Lower financial costs increase the chances of investing and borrowing. Effect on the US The U.S has suffered immensely under the coronavirus outbreak, with daily life almost coming to a standstill: as is the situation in every other country exceedingly affected. Nearly 31% of Americans have seen hours and income reduced, 18% have been laid off, and 10% have had to close down businesses: either temporarily, or permanently. Last week, the U.S. announced that over 3.3 million people had filed for unemployment - the highest number since 1982.In order to face this crisis, the U.S has introduced a $2.2 trillion relief package. Impact on travel Suffering most ardently under the coronavirus outbreak is the traveling industry. Due to the severe traveling restrictions enforced, as well as the policy of ‘social distancing’, airlines have begun losing business, and in an effort to increase consumer demand, have begun cutting prices. Several have canceled business, while some continue to function, although the drop in airline traffic has been huge. Tourists canceling holidays have affected countries such as Thailand, in particular, the Phuket province, where about 56% of the total employment is related to the tourism industry. Restaurant bookings and reservations have fallen by 82% in the U.K, 84% in the U.S, 86% in Ireland, 90% in Germany, and 94% in Canada. Effect on China China has faced an industrial slowdown, as production has fallen by 13.5% in the first two months of 2020. Chinese car sales have dropped by 92%, as companies such as Tesla are reverting to selling cars online, due to the inability of customers to travel to showrooms. The urban unemployment rate has increased by 6.2%. Chinese exports fell by 17.2% between January and February, and demand from other countries decreased in an effort to reduce contact. Since China is currently the world’s largest exporter, an adverse effect on its production influences economies such as Singapore, which is a major trade partner and overall dependent on trade, being a port city. The effects on major Asian countries are expected to resemble the 2008-2009 global financial crisis. Tourism is heavily impacted, and the GDP of Asian countries can be profoundly affected by it. Countries such as India, which may not have as strong trade ties with China, will still experience a shift in GDP growth. India's central bank has begun to cut interest rates, while its GDP growth is already at a decadal low. Decrease in the price of oil Oil is at its lowest price since June 2001. Demand for oil is further expected to decrease in 2020. Although the coronavirus has affected several markets such as coal and gas, its effect on oil has been critical, due to the standstill of people and goods moving around, reducing the need for transport fuels. Members of the OPEC (Organization of the Petroleum Exporting Countries) have discussed a cut of 1.5 million barrels up until the end of June. However, the agreement failed to be carried out, leading Saudi Arabia to cut prices and increase output, in a bid to harm Russia for failing to agree to meet the production cuts. Although lower prices should boost the economy of countries dependent on oil imports, a drastic decrease in activity has had an opposing effect. Since the U.S markets have begun increasing energy production in the past years, this makes it vulnerable to price declines. Scientists are struggling to reach a definite understanding of the coronavirus and how it spreads, and due to a lack of testing and reporting, the actual figures of the total number of cases may be much higher than the given 200,000. Overall, the future global impact of COVID-19 depends on the actions taken by countries over the next few months, how much economic support governments are willing to give, and how exactly it is contained.

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