In a globalized world, where Coronavirus, a disease born in China, can reach everyone in a matter of weeks, we have a tremendous responsibility towards others and towards ourselves.
COVID-19 continues to advance globally, wreaking havoc on health and the economy. At this time, it is necessary to remember how vulnerable we are and how much we can help in the fight against this disease by following the official instructions.
A disease of China in a globalized world
The Coronavirus is probably the greatest challenge that humanity has had to face in decades. Since it placed absolutely all countries side by side, to fight for the recovery of those who are affected by the disease. And to avoid the speed of contagion, it ends up collapsing our health systems.
And it is that, in a globalized world, a pandemic that is spread through physical contact between a healthy and a sick person, has the potential to affect millions of people in a matter of days.
Let’s just think for a moment about the number of people who move from China to the rest of the world each year and we will see the magnitude of the challenge we face.
In 2018, 149.7 million trips were made by Chinese citizens outside its borders. This means that per month, millions and millions of Chinese people visit other countries. That without counting the millions of tourists and businessmen who travel to the Asian giant every year and who were also susceptible to getting the virus.
Recall that, although China’s fight against the Coronavirus began in mid-January of this year, the virus has been identified since November of last year.
This means that, for at least two months, millions of people entered and left China becoming pockets of potential contagion. Not to mention the tens of thousands of people who still travel to or from China today.
This exchange of international travelers is not a bad thing per se. It is simply a consequence of living in a more prosperous and globalized world.
However, it is an element to take into account when the main governments of the world struggle to “flatten the curve”.
Flattening the curve
Flattening the curve is nothing more than the recognition that the world’s health systems have a limit.
Despite all the development that hospitals and the medical system in general have had in the last decades, our health systems are frankly unprotected against a pandemic against which we have no defenses.
If the virus transmission rate is too fast, the number of patients requiring special care will be too large, even for the most developed countries. Even when most patients do not require this care to overcome the disease.
Leading to dramatic cases like that of Italy, where the numbers of infections and deaths far exceed those of most of the world.
Hence the urgency of applying social distancing measures. Which can make the speed of contagion, even in a globalized world like ours, drop enough to be manageable by health services.
And the economy?
Of course, all this is not without a strong impact on the economy. Social distancing includes the practical suspension of all commercial activities, as can be seen in China since January.
This strongly disrupts supply chains locally and globally. Also the energy demand of entire countries. And of course it sends negative signals to the markets.
So it is not surprising that last week there were three days of sharp decline in the main stock exchanges worldwide. They brought the international economy to its knees, destroying investor confidence in the markets in a matter of hours.
And in the face of this economic collapse, which only worsens the humanitarian crisis caused by the Coronavirus, cryptocurrencies become a fundamental ally of economic recovery. Well, even in the most difficult moments of last week’s recession, currencies like Bitcoin managed to recover after a hard initial drop.
Therefore, it seems to be a good time to consider the acquisition of cryptocurrencies as part of a medium-term investment strategy. Let it take advantage of a time when the price of Bitcoin and other crypto assets is low enough, to generate profits when their recovery comes.