“Our previous assumption that the virus will be contained in China proved optimistic, and the odds of a pandemic are rising,” wrote economists from the research and consultancy arm of Moody’s Corporation. With new cases rising quickly above China, the odds of the outbreak turning int a pandemic have now doubled from 20% to 40%.
A pandemic is defined by the WHO as, “The worldwide spread of a new disease.”
If we do go pandemic, Moody’s is predicting it will result in US and global recessions during the first half of this year.
