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Prime Minister pivots to an early exit
Prime Minister pivots to an early exit 8 April 2020 Matthew Hughes Opinion Piece by: Christopher Joye, Columnist Source: Australian Financial Review April 8, 2020 Australia’s pragmatic Prime Minister Scott Morrison has, unsurprisingly, pivoted to the possibility of an early release from the lockdown, which if prolonged indefinitely would push the country into an extreme depression with far greater human costs than the capricious coronavirus. ScoMo also had no compunction shutting down the NSW premier’s suggestion that the lockdown could continue until we have a vaccine. The narrative has shifted to the Prime Minister flagging that states that crush the transmission quickly could experiment with a more rapid transition to the “new normal” of getting ultra-low-risk, working-age employees back to making a living, which could give them a competitive advantage over states that lag. This sudden change in tone is the expected result of Australia’s success in flattening the infection curve with the rate of increase in new infections peaking in early April in line with our projections in March. Our models continue to predict that new infections in the US will likewise peak this month, which
Opinion Piece by: Christopher Joye, Columnist Source: Australian Financial Review April 8, 2020 Australia’s pragmatic… Read Article