Why the Coronavirus is Not Such a Big Deal
The novel coronavirus (C0VID-19), first reported on Nov.17, 2019 in Wuhan China, according to the South Morning China Post, has taken the world by storm, disrupting the stock and crypto markets and also shutting down nearly all sporting league and events around the globe. The virus has now spread throughout the world, prompting the WHO to declare it a pandemic on Wednesday, 11th May, 2020. WHO Director-General, Tedros Adhanom Ghebreyesus, said on Wednesday that “We have never before seen a pandemic sparked by a coronavirus. And we have never before seen a pandemic that can be controlled at the same time.” He, however, warned that the pandemic declaration should not change WHO’s assessment of the threat caused by the virus nor how countries should act when faced with the threat.
Nonetheless, the spread of the coronavirus has been overhyped with numerous conspiracies surrounding the origin and intention of the virus. Currently, there are just 169, 387 confirmed cases, 6, 513 total deaths, and 77, 257 recovered patients. Regarding the coronavirus case fatality rate (CFR), WHO reported that 3.4% of the reported COVID-19 patients across the globe have died, which is quite low compared to other past epidemics. With the above statistics, there should be no cause for alarm leading to extreme measures such as shutting down the stock markets and putting the globe at risk of economic repression. Don't use plagiarised sources.Get your custom essay just from $11/page
Coronavirus History and Timeline
Coronaviruses (CoV) are a large family of viruses that cause illness ranging from the common cold to severe diseases such as Middle East Respiratory Syndrome (MERS-CoV) and Severe Acute Respiratory Syndrome (SARS-CoV). COVID-19 is a new strain of the CoV virus family discovered in 2019 and was not previously identified in humans. Coronaviruses are zoonotic, meaning that they are transmitted between animals and people. Common signs of COVID-19 infection include respiratory symptoms such as fever, cough, shortness of breath, and breathing difficulties.
The first case of COVID-19 was first officially reported on 31st December last year when the government in Wuhan, China notified WHO of several instances of unusual pneumonia and were treating dozens of cases. The rare pneumonia cases were later found out to be caused by a new strain of coronaviruses family. On 11th January, China reported its first death linked to the virus-a 61-year-old man with abdominal tumors and chronic liver disease. Below is a timeline of events following the first death in China.
20TH JANUARY
First case of COVID-19 is confirmed outside mainland China in Japan, South Korea and Thailand. The next day, the United States confirms its first case in Washington State where a man in his 30s developed symptoms after returning from a trip in Wuhan, China.
23RD JANUARY
Wuhan City in China is placed under lockdown. Planes are canceled, trains leaving the city suspended as well as buses, subways, and ferries within it.
JAN.30
WHO declares a state of emergency terming it as a “public health emergency of international concern.”
31ST JANUARY
US restricts travel from China. Entry into the United States by any foreign nationals who traveled to China in the past 14 days, excluding the immediate family members is suspended. By 31st January, nearly 9 800 people have been infected across the world, with 213 reported deaths.
2nd February.
The first coronavirus death was reported outside China. A 44-year-old man in the Philippines died after being infected with the novel virus.
5th February.
A cruise ship in Japan coming off a two-week trip to Southeast Asia with more than 3, 600 passengers on board is established to have 218 positive cases for the virus and began a quarantine onboard. This becomes the most significant number of positive instances outside of China.
FEB 14.
France announces the first coronavirus death in Europe. An 80-year-old Chinese tourist from Hubei province China died on Feb.14 at a hospital in Paris.
FEB 21
South Korea reports a surge in infection linking it to a secretive church– Shincheonji Church of Jesus. The number of confirmed cases rises to above 200, and more than 400 other church members reported potential symptoms linked to the virus.
FEB 21.
The virus is reported in Iran with two deaths on the first day in less than two hours. The source of the infection is unknown.
FEB 23.
Italy announces a surge in coronavirus cases, becoming the first major outbreak in Europe. Ten major towns are put on lockdown.
26th February.
The first case of COVID-19 is reported in Latin America-Brazil. A 61-year-old Sao Paulo man recently from a business trip in Italy test positive for the virus.
FEB.29
Sub-Saharan Africa reports its first infection in Nigeria. The patient was an Italian citizen who had returned to Lagos from Milan.
FEB.29
The United States records its first coronavirus death and announces travel restrictions to countries hit by the virus.
13th March.
Trump’s administration declares the coronavirus crisis a national emergency making $ 50 billion in federal funds available to states and territories to combat the coronavirus.
Conspiracies Surrounding the Coronavirus
Following the break-out of the COVID-19 virus in China about two months ago, there have been several hoaxes and conspiracy theories surrounding it. One conspiracy that has gathered pace is that the coronavirus is a bio-weapon engineered by the CIA as a way to wage war on China and Iran. Other plots indicate that the UK and US governments introduced the coronavirus as a way to make money from a potential vaccine. Below are some conspiracies surrounding the novel coronavirus.
- Coronavirus was introduced by the US government with links to the Bill and Melinda Gates Foundation. Jordan Sather tweeted on 21st January a link to a patent for the coronavirus filed by the U.K.-based Pirbright Institute in 2015. He tweeted: “Was the release of this disease planned?” “Is the media being used to incite fear around it.” “Is the Cabal desperate for money, so they’re tapping their Big Pharma reserves?”. The theory was further fueled by linking the Pirbright Foundation to the Bill and Melinda Gates Foundation. Gates Foundation had agreed in 2019 to fund an unrelated project to study livestock disease and immunology. However, the Pirbright spokesperson refuted the conspiracies saying that the patent was intended to facilitate the development of a vaccine for a specific type of avian coronavirus found in chickens, which has not been implicated as a potential cause of COVID-19.
- China accuses the US Army of Starting the Coronavirus Epidemic- Chinese officials, as well as media outlets, are pushing a new theory about the origin of the coronavirus stating that it’s an American disease that might have been introduced by members of the United States Army who visited Wuhan in October 2019. While there is no evidence to support the claim, China’s Ministry of Foreign Affairs spokesman Zhao Lijian took to Twitter to voice the conspiracy theory stating “ It might be US army who brought the epidemic to Wuhan. Be transparent! Make public your data! US owe us an explanation!” An analysis of the virus’s genome indicates that a strain from a lab didn’t cause the outbreak. It likely came from wild animals instead.
- There is a vaccine or cure for coronavirus but won’t be released by the government- A viral Facebook post dated 22nd January contains a screengrab of a patent filed by the CDC for what is purported to be a coronavirus vaccine, suggesting that the government introduced the virus for pharmaceutical companies to profit off the vaccine. This theory, however, doesn’t make sense since the screengrabbed patent applies to SARS-a type of virus still in the coronaviruses family.
- Coronavirus could be a bio-weapon manufactured by the US targeting Iran- The death of a high-ranking Iranian official who took part in 1979 Iran hostage crisis as a result of coronavirus has sparked a new conspiracy theory that the US manufactured the virus to target Iran. Iran’s Foreign Ministry spokesperson Abbas Mousavi said that “The American administration does not care about Iranian people.” After pulling out of the Iran nuclear deal two years ago, Trump’s administration has increased sanctions against Iran. The country has also rejected US help in combating COVID-19.
Coronavirus-Effects on Stock and Crypto Markets
The coronavirus has taken a heavy toll on the stock and crypto markets, which have plunged since the announcement of the first case in China. In the past week in the US, global stocks were tumbling fast. Stocks continued to fall, even after the Federal Reserve reduced its benchmark interest rate to near zero to prevent a global recession due to the spread of the C0VID-19. In Europe, the stock market fell by 9% in Paris, 8.7% in Spain, 7.8% in Frankfurt, and 7.6% in London and Milan. The stocks are expected to fall even further with the continuing spread and rising death toll. On Asian markets, stocks in Hong Kong were down by more than 4% and 3.4% in Shanghai.
The crypto market hasn’t been spared either. Bitcoin plunged in price recording the worst sell-off in seven years following panic-selling due to the spread of coronavirus. The prices dropped by 26% last Thursday, falling from $7, 600 to $5, 300 and was approaching $4, 000 by Thursday night. The drop in Bitcoin prices occurred coincidentally with the dramatic plunge in oil prices following news that Russia and Saudi Arabia had failed to agree with limiting crude oil production. Other cryptocurrencies also drop in prices with Ethereum falling by more than 30% and XRP dropping by 24%. Following the coronavirus outbreak, the Bitcoin market cap has fallen by $33 billion.
Recent World Occurrences Blinded by Coronavirus
Coronavirus outbreak has hit news outlets across the globe, becoming the most featured topic. Here are some news headlines you might have missed since the outbreak.
- Iran parliamentary election recorded the lowest voter turn-out since 1979
- Warmest winter on record gives way to extra-early signs of spring
- Rocket attacks hit base housing American troops
- US elections- Biden touts deportations freeze; Sanders calls for ending ICE raids
- Saudi Arabia detains senior members of its royal family
- Putin backs amendment that could see him remain in office until 2036
Conclusion
The novel coronavirus has indeed taken the world by storm, eliciting fear among individuals. This has been made worse by the media, who have been criticized for overhyping the situation. With only 169, 387 confirmed representing less than 0.00001% of the global population, and nine deaths in 1, 000 infected persons, there is no need for panic. After all, the coronavirus pandemic is less deadly compared to other past pandemics.