Coronavirus threatens to spark US and global recessions in the first half of 2020 if it becomes a pandemic, according to Mark Zandi, chief economist at Moody’s Analytics.
Mr Zandi estimates the chance of a pandemic has now risen to about 40 per cent from 20 per cent previously as “the chance that the virus will be continued to China appears increasingly tenuous.”
The number of cases of the virus reported in China have been falling, but outbreaks in South Korea and Italy have highlighted the potential for Covid-19 to spread quickly among populations outside China.
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