Lockdown measures put in place by governments to enforce social distancing have not impacted the transmission of the Coronavirus pandemic, instead it devastated the global economy, a study by JP Morgan has claimed.
According to a paper by Marko Kolanovic, a strategist at the investment bank, it was posited that governments were spurred into imposing lockdowns that were “late” or “inefficient”.
Kolanovic argues that numbers had declined because the virus “likely has its own dynamics” that are “unrelated to often inconsistent lockdown measures”.
“Unlike rigorous testing of new drugs, lockdowns were administered with little consideration that they might not only cause economic devastation but potentially more deaths than Covid-19 itself,” he claimed.
“At the same time, millions of livelihoods were being destroyed.”
In a bid to assuage the economic impact of the virus has forced governments to pass significant bailout packages to help workers and businesses.
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