Singapore prime minister says that recession could be a possibility
Singaporean prime minister, Lee Hsien Loong, remarks to the Straits Times
- Recession is possible due to economic impact of coronavirus
- Says coronavirus impact on the economy already exceeds that of SARS
Yup, in this day and age, almost every other aspect of the latest virus outbreak is completely different to that of SARS. Sure, both are coronaviruses but I would say that is perhaps where the similarities end.
For one, China is a bigger economic powerhouse and contributes much more to the global economy than back in 2002-03.
Not only that, global travel has changed so much that pretty much everyone can fly to anywhere these days. That increases the risks and capacity for the virus to spread even quicker and more widespread than what we experienced with SARS.