Covid-19
How global lockdowns destroyed millions of livelihoods, failed to control coronavirus spread
The world is beginning to count the losses encountered after months of preventive coronavirus lockdown. The more disheartening consequence is the destruction of means of livelihood of millions of people across the world. This also include corporate businesses and global social events. The propaganda that accompanied the enlightenment role of the global health manager, the World Health Organisation (WHO), several other medical experts and scientists, created monumental fear and panic in global human race.
A study by JP Morgan revealed that global lockdowns failed to mitigate or halt the spread of the coronavirus pandemic but rather devastated the global economy. The postulation may be germane in relation to the effects of global lockdown on the aviation sector, manufacturing and production industries, global commerce, sports, tourism, including pressure on health facilities all over the world.
A strategist at the investment bank,
Marko Kolanovic had in a recent paper postulated that governments were “spooked” into imposing lockdowns that were “late” or “inefficient”.
Accordingly, the propaganda of the deadliness of coronavirus created palpable fears, compelling governments to enforce lockdown as immediate means to contain the spread of the coronavirus pandemic which had already departed its destination. Besides, various countries continued to record rising cases during the period of lockdown which questions the effectiveness of the restrictions.
In the past two weeks, some countries have recorded fall in coronavirus infection after commencing the ease of lockdown. About four countries also recorded zero infection in 15 days, including an African country, thereby, exiting coronavirus pandemic.
Kolanovic in his paper remarked that the figure of coronavirus infection declined because the virus “likely has its own dynamics” that are “unrelated to often inconsistent lockdown measures”.
He cited evidence of some countries where infection rates, or “R” values, have continued to fall while restrictions are being lifted.
It was noted that infection rate has been stable in Denmark after reopening of schools and shopping centres towards the end of April.
The R value was estimated to be 0.6 on May 18, unlike the 0.7 on May 7.
The investment strategist explained that an R value of 1 or greater indicates that the spread of the virus through a population is accelerating.
It was observed that R value has been below 1 as Germany began to ease lockdown.
Several other countries have been recording fall in coronavirus infection rate when the commenced easing lockdowns.
However, most countries chose to adopt Partial lockdowns abut maintained social distancing directives.
Generally, economic consequences of lockdowns stare many countries of the world on the face, threatening the world population. Governments across the world have been under pressure to provide bailouts to workers and businesses while providing palliatives to citizens for momentary survival.
Kolanovic had declared: “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.
“At the same time, millions of livelihoods were being destroyed.”