Daily Mail – How Australian families and businesses could lose $60B because of COVID-19 – as it’s claimed 95% of people infected globally would have been spared if China acted faster
Australian families and businesses will lose $60 billion by the end of the coronavirus crisis, economists believe, as it’s claimed up to 95 per cent of the infected global population would have been spared if China acted faster to contain the outbreak.
The new economic modelling is based on a nationwide shutdown of non-essential services from April to September, meaning if the pandemic persists, losses could be significantly higher.
The findings come as more than 1,000 Australians join a class action worth an estimated $AUD10 trillion against China for not immediately working to contain the virus.
Governments are immune from civil litigation under international treaties, meaning the prospect of success in a lawsuit against China is essentially non-existent.
Australia has 6,729 known cases of COVID-19 and 88 deaths so far, a million people have lost their jobs.
About The Author
Russell Berman
Russell Berman is a native of Fort Lauderdale, Florida. He graduated from the University of Miami School of Business with majors in Finance and Business Law, and a Minor in Real Estate (B.A. December 2000). Mr. Berman received his Juris Doctor in May 2003 from the University of Florida Levin College of Law, five years after graduating from high school. Mr. Berman focuses his practice in the areas of personal injury and personal injury protection claims, and he has successfully litigated and managed thousands of claims, recovering millions of dollars in personal injury protection benefits afforded by Automobile Insurance Policies, Medical Doctors, Doctors of Chiropractic, MRI facilities, Orthopedists, and Licensed Massage Therapists.