A new study released by EU scientists modeled after the practices of 16 countries suggests that fifty days of strict lockdowns followed by 30 days of openings could reduce COVID-19 deaths while allowing for some economic growth. With the notable exception of Sweden which has supported the 'herd immunity' philosophy, most countries worldwide that have been affected by the novel coronavirus have imposed strict closures on their citizens which have prevented many businesses from functioning and earning properly.
The new study suggested that the method of alternating lockdowns and openings in conjunction with contact tracing and other isolation measures could protect the most susceptible members of society. According to the guidelines set forth by the study, individual countries would need to set their own time intervals in conjunction with the hospital capacities in their areas.
The study also concluded that a full three-month closure would be the fastest way to end the pandemic and could potentially reduce most regions to near zero. If looser lockdowns were applied, the study suggested that it could take six months for new cases to hover near zero.
Rajiv Chowdhury, a global health epidemiologist at the University of Cambridge and the report’s lead author, said that rotating strict suppression measures with relaxation periods — may allow populations to “breathe” at intervals.
“That might make this solution more sustainable, especially in resource-poor regions,” he said.
The World Bank warned on Tuesday that 60 million people could be pushed into extreme poverty due to the coronavirus, essentially undoing the past three years of work in eradicating poverty. The International Monetary Fund (IMF) warned that the global economy will contract by 3 percent this year and that the world is on course for the deepest recession since the 1930s.
Market Movements
The dollar edged up modestly against the yen on Wednesday afternoon in Asia, trading at 107.76 as of 1:06 p.m. HK/SIN. The greenback was lower against most of its other trading partners. The British pound gained 0.11 percent against the dollar to trade at $1.226, while the euro was up 0.18 percent to $1.094. The dollar also eased against the Canadian dollar, trading down 0.115 percent to $1.393.
Gold prices also headed higher as traders favored safe haven assets in response to reports that the highly publicized COVID-19 vaccine may not be as sure of a thing as the study suggested. Gold futures were trading at $1,753.30 per ounce in the early afternoon in Asia.