Many governments’ initial reaction to the appearance of the new COVID-19 variant – attempting to ban travel from South Africa and neighboring countries, even though it had already spread far and wide – seems a bit desperate. In fact, governments may be better prepared than they think for whatever comes next.
WASHINGTON, DC – There is an adage that you cannot have back-to-back financial crises. The implication is that a financial crisis causes people to be more careful – so any bank, investment firm, or investor who survives one crisis will not be taking big risks anytime soon. But two years after the onset of the COVID-19 pandemic forced lockdowns, quarantines, and other restrictions, the arrival of the Omicron variant is forcing people to ask: Are we about to go through it all again?
WASHINGTON, DC – There is an adage that you cannot have back-to-back financial crises. The implication is that a financial crisis causes people to be more careful – so any bank, investment firm, or investor who survives one crisis will not be taking big risks anytime soon. But two years after the onset of the COVID-19 pandemic forced lockdowns, quarantines, and other restrictions, the arrival of the Omicron variant is forcing people to ask: Are we about to go through it all again?