Sunday, March 22, 2020

Coronavirus Fallout Puts Italy at Risk of Recession

The main epidemic area of ​​this epidemic was in northern Italy. The origin of the outbreak can be traced back to December. In fact, Italy's early measures are very timely. On January 30 local time, Italy was diagnosed with two new cases of new pneumonia for the first time, a pair of Chinese tourists. On the same day, Italian Prime Minister Giuseppe Conte announced the suspension of all flights to and from China; on January 31, Italy declared a six-month state of emergency across the country. Everything was calm afterward, but the epidemic broke out on February 22 in an instant. The most prosperous economy in Lombardy was the first to bear the brunt. Overwhelmingly overnight, part of the reason was that no one realized that the virus had actually spread silently in Italy for a long time. According to Al Jazeera, a Milan-based hospital tested three samples of the virus from Lombardy after the outbreak and found that the virus may have occurred weeks before February 20, even before the ban on flights to and from China was issued. It already exists in Italy.

Northern Italy has always been an important economic area of ​​Italy since Italy is a tourist country. A large part of the economy comes from the tourism industry. One of the most important reasons that I think why Italy could be the area most affected by the outbreak is because of the high death toll. If there were high numbers of death rates, people were less likely to travel to Italy. There is a saying in Italy: "Be free and don't wear masks". Many articles also report the reasons why Italian people don't like to wear masks. Even when Italian President Conte urgently issued a new decree prohibiting traditional ways of meeting, such as kissing, the public doesn’t buy-in.  A young couple interviewed said: "The virus is not terrible, and we will kiss each other even if we die." Since the elderly people are more vulnerable to the virus, the aging population structure increases the risk of severe illness and death

The high-risk population in this outbreak is elderly people with underlying diseases. The aging social structure in Italy is undoubtedly worse. According to demographic data from the United Nations Department of Economic and Social Affairs, as of 2019, Italy's population aged 65 and over accounted for 23%, the highest in Europe.


2 comments:

Louis Yank said...

This is really, really good.

Italy is by far in the worst situation of any country currently; more than 500 deaths a day this weekend is a horrible pace. Their country is on lockdown; they have nothing coming in, nothing being produced. They could use financial aid from the EU or anyone that can supply it (loans probably), because the government has larger problems to worry about.

Anonymous said...

Very interesting approach, I hope Italy receives help. They along with Spain are going to be impacted heavily. Large elder population and the amount of cases represents a good portion of population. Tourism needs to get back to where it was to boost economy.