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Jakarta Post

A new coronavirus strategy

  • Lily Hua Fang

Singapore   /   Thu, March 26 2020   /  01:18 am

The human and economic devastation caused by the novel coronavirus is multiplying every day. The spread of the virus has vengefully demonstrated that every day we lose in fighting it increases the difficulty exponentially. A vivid illustration of this exponentially increasing costs: The United States rescue package being negotiated in the Congress increased from US$1trillion a week ago to $2trillion plus now. The Federal Reserve needed to resolve to “unlimited” quantitative easy, and even that failed to assuage the financial markets which continue to free fall.

There is nowhere to hide. Even in China, where victory has been declared over the virus, and where the markets held up remarkably well during the height of that country’s crisis, markets finally tanked to new lows in the last week as the virus literally went “viral” everywhere outside of China.

The economy ...