Shock death toll prediction as new Australian case emerges (paywalled)
John Rolfe, Tamsin Rose, Danielle Le Messurier, Clare Armstrong, Charles Miranda, Ondy Harvard
Herald Sun
March 3, 2020
A mild coronavirus pandemic would likely kill 21,000 Australians and more than 15 million people around the world, new research by a leading Australian economist predicts.
On top of this devastating human toll, former Reserve Bank of Australia board member Warwick McKibbin’s forecasts also show a harsh economic impact, with Australia’s gross domestic product reduced by at least two percentage points even in a low-severity global outbreak.
That equates to $US27 billion ($A42 billion) this year alone.
Professor McKibbin’s research,
The Global Macroeconomic Impacts of COVID-19: Seven Scenarios, was published by the Washington-based Brookings Institution overnight Australian time.
A high-severity pandemic could leave 96,000 Australians dead and cause 68 million fatalities worldwide.
It comes as new border and biosecurity measures are being considered by the federal government as the coronavirus continues to spread.
Prime Minister Scott Morrison confirmed on Tuesday the government was working on stimulus measures in a bid to prop up the flatlining economy.
“We will keep looking at it each and every day,” he said.
Thirty four Australians have contracted the virus so far, 21 have recovered and one man has died.
More than 10,000 people have been tested in public labs.
Mr Morrison urged Australians to go about their usual business in a “calm manner” and not to stockpile supplies.
He spoke with Coles and Woolworths on Tuesday about shortages and supply chains.
“I would urge people to be going around their business in the usual manner,” Mr Morrison said.
“I’m pleased with the plans they have in place.
“There are some lines that will be more tested in the short term.”
The ACCC has been called in to help the major retailers work together.
He confirmed the National Security Committee would meet again this week to discuss what further measures could be taken to slow the spread of the virus.
Remote indigenous communities, aged care facilities and primary care facilities were being looked at closely as governments continue to plan for future outbreaks.
Ahead of the impending Reserve Bank interest rate decision, the Prime Minister urged the big four banks to pass on any cuts in full to their customers.
He compared that possible action to the assistance provided by Qantas in evacuating people from China and Japan.
“Qantas showed up,” the Prime Minister said.
“I would expect they (the banks) would do the right thing.
“The big banks would do their bit just like Qantas.”
Mr Morrison said the government was working though plans for an economic “boost” but would not be drawn on the details.
“This is not the same issue as the GFC,” he said.
“The economy is going to bounce back and Australia is going to bounce back.
“We are working to ensure the disruption... is minimised as much as possible.”
Health Minister Greg Hunt confirmed more than 90,000 cases had been confirmed world wide and more than 3000 people had died.
Following calls from the NSW government for people to stop shaking hands, chief medical officer Brendan Murphy said that was not required.
“There is no reason to change normal behaviours,” he said.
“There is no reason to panic.”
NEW AUSSIE CASE OF CORONAVIRUS
A 10th Queensland coronavirus case has been confirmed by state health authorities.
A 20-year-old man from China has been confirmed as having Covid-19.
The man, who had travelled to Dubai for at least two weeks before entering Australia, is in a stable condition in isolation in the Royal Brisbane and Women’s Hospital.
He was living in the Brisbane suburb of Toowong with a male housemate, who is now being assessed for the disease.
There are reports the man may be a university student, but authorities are yet to confirm this.
This lifts the number of confirmed cases in Australia to 34, while worldwide it has climbed to 90,000 infected and nearly 3100 dead (as at 12.30pm AEDT) including 78-year-old Perth man James Kwan.
It comes as Prime Minister Scott Morrison met with the bosses of Coles and Woolworths and urged Australians to stop panic buying.
“I appreciate their (Coles and Woolworths) response and the steps they are taking to assure people and their own customers,” he said.
“They would send the same message I am sending you today. It is important that people just go about their business and their normal processes in a calm manner.”
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One of our restriction-dodging friends who was so desperate to study here that he put Australians at risk. Gets an 'F' from me.