{"id":6681,"date":"2020-03-30T12:45:20","date_gmt":"2020-03-30T12:45:20","guid":{"rendered":"https:\/\/lottolenghi.me\/why-the-coronavirus-could-threaten-the-u-s-economy\/"},"modified":"2020-03-30T12:45:20","modified_gmt":"2020-03-30T12:45:20","slug":"why-the-coronavirus-could-threaten-the-u-s-economy","status":"publish","type":"post","link":"https:\/\/lottolenghi.me\/why-the-coronavirus-could-threaten-the-u-s-economy\/","title":{"rendered":"Why the Coronavirus Could Threaten the U.S. Economy"},"content":{"rendered":"

\u201cWhen people pull back from interacting with others because of their fear of disease, the things they stop doing will frequently affect much bigger industries in the United States,\u201d wrote the University of Chicago economics professor, Austin Goolsbee.<\/span><\/p>\n

In an <\/span>elucidating article for <\/span>The New York Times<\/span><\/i><\/a>, Goolsbee assesses how the economic impacts of COVID-19 will be significantly greater in the United States than in China.<\/span><\/p>\n

China experienced a broad and rapid spread of COVID-19 \u2014 quarantines slowed the spread of the virus; however, basic commodities and output substantially slowed down with the shuttering of factories and other businesses. This global supply chain shortage from everything from auto parts to generic medicines and production delays in things like iPhones is being felt everywhere. Since the article\u2019s publishing date on March 6th, countries are scrambling to take measures to minimize the effects of a global recession in the coming months.<\/span><\/p>\n

But how the United States experiences COVID-19 in an economic sense, will be starkly different than China\u2019s experience, \u201cJust as the disease poses a particular threat to older patients, it could be especially dangerous for more mature economies.\u201d<\/span><\/p>\n

Here are three major factors that change the scope of the impact:<\/span><\/p>\n