Plunge in the global economy : “decades” before getting out of the health crisis

De nombreux commerces ont fermé à cause de la pandémie.

Many shops have closed because of the pandemic.

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July 31, 2020 11h32

Updated at 21h38

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Plunge in the global economy : “decades” before getting out of the health crisis

Agence France-Presse

PARIS — The world economy is a plunge in history, with a sharp fall in the GDP of the euro area and the United States into recession, due to the coronavirus “whose effects will be felt for decades”, according to the director-general of the world health Organization (WHO).

In the Face of a pandemic that nothing seems able to stop, the emergency Committee of the WHO has once again met on Friday, six months after having declared a global emergency.

The global economic statistics give the dizzy.

The euro area recorded in the second quarter to a fall of 12.1% of its GDP, as a result of the containment measures, announced Friday, the european statistics Office. In France, it is 13.8 %, in Spain of 18.5 %, in Germany, the economic engine of Europe, 10.14 %.

In the United States, the containment has led to a collapse in GDP of 32.9% over the same period on an annualized basis. Compared to the second quarter of 2019, the reduction is 9.5 %.

The only encouraging sign in this area announced Friday, Canada reported in may, a growth of 4.5 % compared to April, after two months of sharp decline.

The pandemic has killed at least 673 909 deaths in the world, according to a report drawn up by AFP from official sources on Friday. The number of cases has exceeded 17 million.

By reaching out to the 46 000 deaths, Mexico has become the third country in terms of deaths from the coronavirus, finishing just slightly ahead of the United Kingdom.

The more bereaved by the COVID-19 remain in the United States, with 153 268 dead, and Brazil (91 of 263).

Vietnam and the archipelago of Fiji have each announced their first death Friday, while the British indicated that it had exceeded the 10 000 deaths.

In Florida, one of the american States where the epidemic is experiencing a strong resurgence, the population is now waiting for the arrival of hurricane Isaias.

Effects on “the coming decades”

“This pandemic is a health crisis as we see only one per century, and its effects will be felt for decades to come,” said the director-general of WHO, Tedros Adhanom Ghebreyesus, at the beginning of the Friday meeting. The institution, which had issued the global alert on the 30th of January, is criticized for its recommendations that are considered late or contradictory.

In the Face of the outbreak of new cases of COVID-19, several countries are strengthening the restrictions.

Germany has classified three areas of Spain, particularly affected, in at-risk areas, which implies a quarantine for travellers who have just returned, at least to present a negative test.

In the Uk, the government has decided to postpone for at least two weeks the next phase of the déconfinement in England, originally scheduled for Saturday with the reopening of some public places.

In France, the minister of Health Olivier Véran announced on Friday that the port of the mask outside could be imposed as early as Monday in a “number of areas” where the epidemic began, in the summer encouraging the festive gathering in the open air.

Cyprus has decreed that the mask was mandatory in stores, supermarkets and other public places closed.

In a reversal of doctrine, Denmark now recommends its use in public transport, and Greece recalled that it is mandatory in all enclosed public places.

In Hong Kong, the executive has postponed for one year parliamentary elections scheduled for September because of the increase in the number of cases of coronavirus, a decision that is likely to stoke the anger of the democracy movement who see in it a pretext.

In spite of everything, many are those who try to save the economy. For example, Nepal has reopened Friday access to its mountain ranges, including the Everest, shipments fall in the hope of reviving its tourism sector hit hard.

In Mecca, the muslims began Friday with the ritual of stoning of Satan, one of the last of the great pilgrimage, which has been drastically reduced this year in order to avoid any spread of the virus.

In Algeria, the holiday has been retained, but the heart is not really. “Because of the virus, it lacks the usual atmosphere of Eid. There is a big difference. Not charm”, regrets a of Algiers, Sid Ali.

Doubt about the vaccine the russians and chinese

The immunologist Anthony Fauci, the voice of scientific reason in the United States on the pandemic, has expressed doubts Friday about the safety of vaccines currently in development by Russia and China. “I really hope that the Chinese and the Russians test their vaccines before they administer them to anyone”, he declared during a hearing before the u.s. Congress.

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