Swine flu rattles global economy | csmonitor.com
Shared by maryamkhan
I m learning more about economy right now and in particular what I am wondering about is "Swine flu rattles global economy".
As I was reading this news article in my Google reader it caught my attension,because Consumers, investors, the tourism business, and other industries around the world have already felt the impact of the swine flu epidemic. Its ultimate economic cost will depend not only on how serious it becomes but how long it lasts.
The quote I chose here is basically saying that "Nothing spread faster than the fear of an epidemic".Firstly tourist affect by this US officials warned against nonessential travel to Mexico.European officials urged no travel to the US as well as Mexico. Several US and foreign airlines allowed their Mexico-bound passengers to switch their tickets to other destinations even as their share prices tumbled on world stock markets.Fears even curtailed exports of pork, even though health officials have repeatedly assured consumers that there’s no connection between pork consumption and the virus. China and Russia banned pork products from Mexico and US states where flu cases had cropped up. Indonesia banned all pork imports.
Now, the question for the fragile global economy is how big the epidemic will become.the World Health Organization (WHO) raised its alert level although that is still two steps short of a full pandemic. As of Tuesday, the virus was suspected in 152 fatalities and 1,600 illnesses – all in Mexico. Elsewhere, 90 cases of the flu had been confirmed in at least 11 countries – 50 cases alone in the United States. SARS, by comparison, was believed responsible for 800 fatalities and 8,000 illnesses.
I think that it is a very serious condition it will be very dangerous and it is spreading WHO has to take step to control this as soon as possible.
Rebuilding the Economy: \