The economic, geopolitical and health consequences of COVID-19

The economic, geopolitical and health consequences of COVID-19

Last week, for the first time since the COVID-19 epidemic started, the number of new cases outside of China was greater than inside the country.. By 1 March, the total number of confirmed COVID-19 cases in China was 80,565 (3,015 deaths) and in the rest of the world 14,768 (267 deaths).. Responding to the crisis requires global cooperation among governments, international organizations and the business community, which is at the centre of the World Economic Forum's mission as the International Organization for Public-Private Cooperation.. CEPI is currently supporting the race to develop a vaccine against this strand of the Coronavirus.. The 2003 SARS outbreak, which infected about 8,000 people and killed 774, cost the global economy an estimated US$50 billion .. The supply chain consequences are real and affect some sectors and assets more than others, from commodities such as oil to supply chains vulnerable to such interruptions as those that cause problems for just-in-time auto manufacturing.. While the health challenges and economic consequences are potentially devastating, the political consequences are harder to foresee - but might be the most long-lasting.. The views expressed in this article are those of the author alone and not the World Economic Forum..