COVID-19 Monitor

Last Updated:October 15, 2020

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5 Questions That (Newly) Virtual Leaders Should Ask Themselves (HBR) Published on: May 1, 2020 | Category: Leadership

My intent here is to challenge leaders to pause and identify what they need to do differently not only to sustain, but also to strengthen their skills in a virtual setting‚ particularly during a time when their teams are looking to them more than ever for direction.
But communicating virtually requires even more strategic planning because you can’t rely as much on human connection or charisma to carry you.
Some people thrive while working remotely, while others may feel a lack of motivation or encounter other unforeseen challenges.

Two Medical Systems, Two Pandemic Responses (NY Times) Published on: May 1, 2020 | Category: Canadian Business, Global Response

A health economist who has taught on both sides of the border examines the difference between Canada and the United States.
“The kind of system we have in Canada — and I think in British Columbia we have a pretty well-run version of it — allows the public health authorities to essentially commandeer the hospital system. It’s a command and control thing, it’s not a coordination thing,” said Bermand, professor of global health systems and economics at the T.H. Chan School of Public Health.
Few American hospital administrators got together to do things like moving medical supplies and patients around between their institutions, Professor Berman said.

U.S. officials crafting retaliatory actions against China over coronavirus as President Trump fumes (Washington Post) Published on: May 1, 2020 | Category: Global Response

Senior U.S. officials are beginning to explore proposals for punishing or demanding financial compensation from China for its handling of the coronavirus pandemic, according to four senior administration officials with knowledge of internal planning.
President Trump has fumed to aides and others in recent days about China, blaming the country for withholding information about the virus, and has discussed enacting dramatic measures that would probably lead to retaliation by Beijing, these people said.
In private, Trump and aides have discussed stripping China of its “sovereign immunity,” aiming to enable the U.S. government or victims to sue China for damages.

Canada’s early COVID-19 cases came from the U.S. not China, provincial data shows (National Post) Published on: April 30, 2020 | Category: Canadian Business, Global Response

The global COVID-19 pandemic began in Wuhan, China, but data from Canada’s largest provinces show it was American travellers, not Chinese, who brought the deadly virus to our shores.
Air Canada suspended flights from China in February and the government encouraged people not to travel to China as early as January, but did not ban travellers until March 18 when it imposed sweeping global restrictions.
Of those cases, just five related to travel from China.

How consumer companies in China are preparing for the next normal: A virtual roundtable (McKinsey) Published on: April 30, 2020 | Category: Global Response

Members of McKinsey’s Greater China Consumer and Retail Practice in April conducted a virtual roundtable discussion to tap the knowledge and experience of China-based executives tasked with leading their companies out of lockdown.
The executives share views on how the crisis accelerated efforts to digitize their businesses, and discuss the measures they took to first sustain demand during the crisis, and then revive it during the recovery.
They also detail the fundamental impacts the crisis has had on the way their companies work, as well as how they listen to and interact with consumers.

How Long Will a Vaccine Really Take? (NY Times) Published on: April 30, 2020 | Category: Global Response

The grim truth behind this rosy forecast is that a vaccine probably won’t arrive any time soon.
Our record for developing an entirely new vaccine is at least four years — more time than the public or the economy can tolerate social-distancing orders.
So Times Opinion asked vaccine experts how we could condense the timeline and get a vaccine in the next few months instead of years.

The 90% economy that lockdowns will leave behind (The Economist) Published on: April 30, 2020 | Category: Economic Impact, Global Response

Data from Womply, a firm which processes transactions on behalf of 450,000 small businesses across America, show that businesses in all sectors have lost substantial revenue.
The “90% economy” thus created will be, by definition, smaller than that which came before. But its strangeness will be more than a matter of size.
Some indication that the spending effects of a lockdown will persist even after it is over comes from Sweden.
Discretionary spending by Chinese consumers—the sort that goes on things economists do not see as essentials—is 40% off its level a year ago.

More than 50% of Canadian companies have lost at least one-fifth of their revenue to COVID-19, StatsCan says (CBC) Published on: April 29, 2020 | Category: Canadian Business, Economic Impact

Nearly one-third — 32.3 per cent — of businesses have lost 40 per cent of their revenues during the pandemic.
A further 21.2 per cent said revenues were down by at least 20 per cent.
Businesses in the accommodation and food services sector were most likely to have felt the pinch, followed by entertainment and recreation and retail trade.
More than 60 per cent of businesses in those parts of the economy reported losing at least one-fifth of their usual revenue.

US GDP falls 4.8% in worst economic decline since 2008 (FT) Published on: April 29, 2020 | Category: Economic Impact, Global Response

The blow to the American consumer, the biggest driver of US economic growth, was evident in a 7.6 per cent drop in personal consumption, which marked the biggest decline since 1980.
Counter-intuitively, healthcare was one of the sectors that provided the biggest drag on the economy, as hospitals stopped performing lucrative elective procedures in order to focus on dealing with coronavirus patients.
Some economists forecast the economy could shrink between 30 per cent and 40 per cent in the current quarter.

The iconic brands that could disappear because of coronavirus (Washington Post) Published on: April 29, 2020 | Category: Economic Impact

The retail industry, rife with bankruptcies and shuttered stores long before the coronavirus, is facing its biggest test yet.
More than 100,000 stores could disappear by the end of 2025, according to UBS.
“The companies with the thinnest margins are the most vulnerable,” said Hugh Ray, a bankruptcy attorney for the Dallas-based law firm McKool Smith. “The bread and butter for bankruptcy lawyers is restaurants, grocery stores, and automobile businesses with margins that are too thin to sustain much of an interruption.”

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