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‘Not Just an Italian Problem’: Coronavirus Threatens Europe’s Economy ‘Not Just an Italian Problem’: Coronavirus Threatens Europe’s Economy
(about 13 hours later)
By the time the deadly coronavirus arrived in Italy’s industrial heartland, shutting down his factory and threatening Europe with economic damage, Antonio Falchetti was already a veteran in the battle to contain the global epidemic.By the time the deadly coronavirus arrived in Italy’s industrial heartland, shutting down his factory and threatening Europe with economic damage, Antonio Falchetti was already a veteran in the battle to contain the global epidemic.
His company, MTA Advanced Automotive Solutions, makes parts for the electrical systems of cars, supplying some of the world’s largest automobile manufacturers. One of its factories sits in Shanghai. As the coronavirus exploded into a public health emergency across China in January, Mr. Falchetti was forced to significantly reduce production and operate with a small fraction of his usual work force.His company, MTA Advanced Automotive Solutions, makes parts for the electrical systems of cars, supplying some of the world’s largest automobile manufacturers. One of its factories sits in Shanghai. As the coronavirus exploded into a public health emergency across China in January, Mr. Falchetti was forced to significantly reduce production and operate with a small fraction of his usual work force.
By Feb. 17, his Shanghai plant was fully up and running. But less than a week later, MTA was facing a problem at another factory, in the Italian town of Codogno: The coronavirus had emerged there, prompting the regional government to close all local plants.By Feb. 17, his Shanghai plant was fully up and running. But less than a week later, MTA was facing a problem at another factory, in the Italian town of Codogno: The coronavirus had emerged there, prompting the regional government to close all local plants.
Mr. Falchetti, the company’s chief executive, fears the government is overreacting. By effectively quarantining Codogno, a town of 16,000 people about 40 miles south of Milan, Italy, the government risks leaving automotive plants across Europe short of critical components, he says.Mr. Falchetti, the company’s chief executive, fears the government is overreacting. By effectively quarantining Codogno, a town of 16,000 people about 40 miles south of Milan, Italy, the government risks leaving automotive plants across Europe short of critical components, he says.
“I hope our Italian authorities, and the rest of Europe as well, recognize that a complete shutdown of the facility is not just an Italian problem,” he said in an interview. “It will affect everyone. Ultimately our business — indeed, I think, most business in the world today — is part of a vibrant ecosystem. If you shut down one part of that ecosystem, inevitably it’s going to have effects on other parts.”“I hope our Italian authorities, and the rest of Europe as well, recognize that a complete shutdown of the facility is not just an Italian problem,” he said in an interview. “It will affect everyone. Ultimately our business — indeed, I think, most business in the world today — is part of a vibrant ecosystem. If you shut down one part of that ecosystem, inevitably it’s going to have effects on other parts.”
The company, in a public statement on Monday, urged the Italian authorities to allow it to resume operations using one-tenth of its 600 workers. Otherwise, MTA warned, it would be unable to supply crucial parts to its customers, threatening to halt production at prominent automobile manufacturers across Europe, among them Renault, BMW, Peugeot and Jaguar Land Rover.The company, in a public statement on Monday, urged the Italian authorities to allow it to resume operations using one-tenth of its 600 workers. Otherwise, MTA warned, it would be unable to supply crucial parts to its customers, threatening to halt production at prominent automobile manufacturers across Europe, among them Renault, BMW, Peugeot and Jaguar Land Rover.
BMW said it was “continuing to monitor the situation” but had yet to encounter difficulties finding needed parts. A spokeswoman for Renault said the company was still assessing potential impact and declined further comment. Jaguar Land Rover declined to comment, and Peugeot did not immediately respond to questions.BMW said it was “continuing to monitor the situation” but had yet to encounter difficulties finding needed parts. A spokeswoman for Renault said the company was still assessing potential impact and declined further comment. Jaguar Land Rover declined to comment, and Peugeot did not immediately respond to questions.
The drama in Codogno underscored the worries afflicting the world economy as the coronavirus spreads.The drama in Codogno underscored the worries afflicting the world economy as the coronavirus spreads.
Until this week, the epidemic appeared largely confined to Asia. It was mysterious, unsettling and deadly, killing more than 2,000 people. It had disrupted Chinese industry and diminished spending by Chinese consumers.Until this week, the epidemic appeared largely confined to Asia. It was mysterious, unsettling and deadly, killing more than 2,000 people. It had disrupted Chinese industry and diminished spending by Chinese consumers.
Experts assumed that China’s economy, the world’s second largest after that of the United States, would slow sharply in the first half of this year before recovering as the epidemic was eventually contained. Given that China is the source of one-third of all global growth, this was enough to provoke worries worldwide, hitting balance sheets for multinational businesses from Apple to major airlines. Still, the locus of concern was China and neighboring countries like South Korea and Japan.Experts assumed that China’s economy, the world’s second largest after that of the United States, would slow sharply in the first half of this year before recovering as the epidemic was eventually contained. Given that China is the source of one-third of all global growth, this was enough to provoke worries worldwide, hitting balance sheets for multinational businesses from Apple to major airlines. Still, the locus of concern was China and neighboring countries like South Korea and Japan.
That changed abruptly this week as the coronavirus flared well beyond China, prompting panicked selling across global markets on Monday and then again on Tuesday. The specter of an epidemic spreading rapidly in Italy raised the prospect of a new shock in a region that was already struggling to muster vitality.That changed abruptly this week as the coronavirus flared well beyond China, prompting panicked selling across global markets on Monday and then again on Tuesday. The specter of an epidemic spreading rapidly in Italy raised the prospect of a new shock in a region that was already struggling to muster vitality.
The sense that the virus could swell into a global crisis gained momentum as Iran was identified as the source of cases that have emerged in Iraq, Afghanistan, Bahrain, Kuwait, Oman, Lebanon, the United Arab Emirates and even Canada.The sense that the virus could swell into a global crisis gained momentum as Iran was identified as the source of cases that have emerged in Iraq, Afghanistan, Bahrain, Kuwait, Oman, Lebanon, the United Arab Emirates and even Canada.
Germany, Europe’s largest economy, has in recent months suffered a pronounced slowdown in factory orders as its auto industry grapples with increased fuel-efficiency standards, and as China’s growth slows.Germany, Europe’s largest economy, has in recent months suffered a pronounced slowdown in factory orders as its auto industry grapples with increased fuel-efficiency standards, and as China’s growth slows.
Chinese factories buy enormous volumes of petrochemicals and machinery from German suppliers. The Trump administration’s trade war with China has hurt Germany’s exports by limiting China’s industrial growth. The coronavirus has worsened this trend by keeping Chinese factory workers home.Chinese factories buy enormous volumes of petrochemicals and machinery from German suppliers. The Trump administration’s trade war with China has hurt Germany’s exports by limiting China’s industrial growth. The coronavirus has worsened this trend by keeping Chinese factory workers home.
Britain’s departure from the European Union threatens to curtail investment in Europe as multinational corporations await clarity on trade negotiations about the future of commercial dealings across the English Channel.Britain’s departure from the European Union threatens to curtail investment in Europe as multinational corporations await clarity on trade negotiations about the future of commercial dealings across the English Channel.
Italy has remained a perpetual source of concern for Europe — an economy that has not grown in two decades, with alarming levels of public debt and banks stuffed with bad loans.Italy has remained a perpetual source of concern for Europe — an economy that has not grown in two decades, with alarming levels of public debt and banks stuffed with bad loans.
As one of 19 countries that share the euro currency, Italy must abide by strict rules on public spending, further limiting growth and making its companies especially dependent on trade. Italy sold some $550 billion worth of goods and services abroad in 2018, according to the World Bank.As one of 19 countries that share the euro currency, Italy must abide by strict rules on public spending, further limiting growth and making its companies especially dependent on trade. Italy sold some $550 billion worth of goods and services abroad in 2018, according to the World Bank.
“Because of the austerity that is ingrained into Italian economic policy, the domestic market is not growing,” said Servaas Storm, an economist at Delft University of Technology in the Netherlands. “So firms that want to grow have to do it through exports.”“Because of the austerity that is ingrained into Italian economic policy, the domestic market is not growing,” said Servaas Storm, an economist at Delft University of Technology in the Netherlands. “So firms that want to grow have to do it through exports.”
The coronavirus has landed in Codogno and the surrounding region of Lombardy, as well as the neighboring areas of Piedmont and the Veneto. Collectively, they account for nearly one-third of the national economy.The coronavirus has landed in Codogno and the surrounding region of Lombardy, as well as the neighboring areas of Piedmont and the Veneto. Collectively, they account for nearly one-third of the national economy.
“This is really the industrial heart of Italy,” said Nicola Borri, a finance professor at Luiss, a university in Rome. “You have thousands of small companies that are active in exports. It’s a very dynamic area of the economy, on par with the most developed parts of Germany. It’s also very interconnected.”“This is really the industrial heart of Italy,” said Nicola Borri, a finance professor at Luiss, a university in Rome. “You have thousands of small companies that are active in exports. It’s a very dynamic area of the economy, on par with the most developed parts of Germany. It’s also very interconnected.”
That interconnectedness is the element that makes the outbreak a potentially dangerous wild card in the European economy.That interconnectedness is the element that makes the outbreak a potentially dangerous wild card in the European economy.
More than 12 percent of Italy’s exports are sold in Germany, many of them auto parts. If Italy’s factories have trouble making their products, that could lead to shortages of components and disrupt plants in Germany and throughout Europe.More than 12 percent of Italy’s exports are sold in Germany, many of them auto parts. If Italy’s factories have trouble making their products, that could lead to shortages of components and disrupt plants in Germany and throughout Europe.
This was the point that Mr. Falchetti and MTA were making in beseeching the regional government to allow some of its people to get back to work.This was the point that Mr. Falchetti and MTA were making in beseeching the regional government to allow some of its people to get back to work.
“We can’t get the merchandise where it needs to go,” said Maria Vittoria Falchetti, Mr. Falchetti’s sister and a part-owner of MTA. “We can’t respect deadlines and delivery dates that we have committed to because of the effects of the lockdown.”“We can’t get the merchandise where it needs to go,” said Maria Vittoria Falchetti, Mr. Falchetti’s sister and a part-owner of MTA. “We can’t respect deadlines and delivery dates that we have committed to because of the effects of the lockdown.”
With verifiable facts greatly outweighed by variables, economists are struggling to forecast the likely effects of the coronavirus. But estimates for growth are being revised down.With verifiable facts greatly outweighed by variables, economists are struggling to forecast the likely effects of the coronavirus. But estimates for growth are being revised down.
Oxford Economics, a research institution in London, was previously expecting the Italian economy to stagnate this year. Now it expects a slight contraction in the first three months, with a longer downturn if the epidemic prompts consumers to cut back on their spending.Oxford Economics, a research institution in London, was previously expecting the Italian economy to stagnate this year. Now it expects a slight contraction in the first three months, with a longer downturn if the epidemic prompts consumers to cut back on their spending.
With businesses closed and many people staying home, a drop in consumer spending seemed like a distinct possibility.With businesses closed and many people staying home, a drop in consumer spending seemed like a distinct possibility.
Updated June 16, 2020Updated June 16, 2020
The steroid, dexamethasone, is the first treatment shown to reduce mortality in severely ill patients, according to scientists in Britain. The drug appears to reduce inflammation caused by the immune system, protecting the tissues. In the study, dexamethasone reduced deaths of patients on ventilators by one-third, and deaths of patients on oxygen by one-fifth.
The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave.The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave.
So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement.So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement.
Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.
A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study.A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study.
The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April.The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April.
Mass protests against police brutality that have brought thousands of people onto the streets in cities across America are raising the specter of new coronavirus outbreaks, prompting political leaders, physicians and public health experts to warn that the crowds could cause a surge in cases. While many political leaders affirmed the right of protesters to express themselves, they urged the demonstrators to wear face masks and maintain social distancing, both to protect themselves and to prevent further community spread of the virus. Some infectious disease experts were reassured by the fact that the protests were held outdoors, saying the open air settings could mitigate the risk of transmission.Mass protests against police brutality that have brought thousands of people onto the streets in cities across America are raising the specter of new coronavirus outbreaks, prompting political leaders, physicians and public health experts to warn that the crowds could cause a surge in cases. While many political leaders affirmed the right of protesters to express themselves, they urged the demonstrators to wear face masks and maintain social distancing, both to protect themselves and to prevent further community spread of the virus. Some infectious disease experts were reassured by the fact that the protests were held outdoors, saying the open air settings could mitigate the risk of transmission.
States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people.States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people.
Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.
If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)
Taking one’s temperature to look for signs of fever is not as easy as it sounds, as “normal” temperature numbers can vary, but generally, keep an eye out for a temperature of 100.5 degrees Fahrenheit or higher. If you don’t have a thermometer (they can be pricey these days), there are other ways to figure out if you have a fever, or are at risk of Covid-19 complications.Taking one’s temperature to look for signs of fever is not as easy as it sounds, as “normal” temperature numbers can vary, but generally, keep an eye out for a temperature of 100.5 degrees Fahrenheit or higher. If you don’t have a thermometer (they can be pricey these days), there are other ways to figure out if you have a fever, or are at risk of Covid-19 complications.
The C.D.C. has recommended that all Americans wear cloth masks if they go out in public. This is a shift in federal guidance reflecting new concerns that the coronavirus is being spread by infected people who have no symptoms. Until now, the C.D.C., like the W.H.O., has advised that ordinary people don’t need to wear masks unless they are sick and coughing. Part of the reason was to preserve medical-grade masks for health care workers who desperately need them at a time when they are in continuously short supply. Masks don’t replace hand washing and social distancing.The C.D.C. has recommended that all Americans wear cloth masks if they go out in public. This is a shift in federal guidance reflecting new concerns that the coronavirus is being spread by infected people who have no symptoms. Until now, the C.D.C., like the W.H.O., has advised that ordinary people don’t need to wear masks unless they are sick and coughing. Part of the reason was to preserve medical-grade masks for health care workers who desperately need them at a time when they are in continuously short supply. Masks don’t replace hand washing and social distancing.
If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others.If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others.
If you’re sick and you think you’ve been exposed to the new coronavirus, the C.D.C. recommends that you call your healthcare provider and explain your symptoms and fears. They will decide if you need to be tested. Keep in mind that there’s a chance — because of a lack of testing kits or because you’re asymptomatic, for instance — you won’t be able to get tested.If you’re sick and you think you’ve been exposed to the new coronavirus, the C.D.C. recommends that you call your healthcare provider and explain your symptoms and fears. They will decide if you need to be tested. Keep in mind that there’s a chance — because of a lack of testing kits or because you’re asymptomatic, for instance — you won’t be able to get tested.
“There’s a bit of a sense of panic in the air,” said Nicola Nobile, Oxford’s chief Italian economist, based in Milan. “Italy is going to be hit. The impact is definitely going to be felt. This is more bad news for Italy.”“There’s a bit of a sense of panic in the air,” said Nicola Nobile, Oxford’s chief Italian economist, based in Milan. “Italy is going to be hit. The impact is definitely going to be felt. This is more bad news for Italy.”
MTA has lately produced good news. Started by Mr. Falchetti’s grandfather in 1954, the company has turned its engineering prowess into a global brand with eight factories around the world.MTA has lately produced good news. Started by Mr. Falchetti’s grandfather in 1954, the company has turned its engineering prowess into a global brand with eight factories around the world.
As the coronavirus emerged in the Chinese city of Wuhan, a major industrial hub, cities throughout China imposed restrictions on factory production. The epidemic was spreading in the midst of the Lunar New Year, a holiday when hundreds of millions of migrant workers return to their villages in the countryside. Cities like Shanghai extended the holiday to keep those workers home, hoping that this would limit the reach of the virus.As the coronavirus emerged in the Chinese city of Wuhan, a major industrial hub, cities throughout China imposed restrictions on factory production. The epidemic was spreading in the midst of the Lunar New Year, a holiday when hundreds of millions of migrant workers return to their villages in the countryside. Cities like Shanghai extended the holiday to keep those workers home, hoping that this would limit the reach of the virus.
Mr. Falchetti sought to respect the restrictions while keeping production going on a severely limited basis. He imposed emergency measures.Mr. Falchetti sought to respect the restrictions while keeping production going on a severely limited basis. He imposed emergency measures.
“Every worker had to pass through three different control stations before entering the building, and we checked each person’s temperature every two hours throughout the day,” Mr. Falchetti said. “Fortunately the controls and checks instituted in China have worked.”“Every worker had to pass through three different control stations before entering the building, and we checked each person’s temperature every two hours throughout the day,” Mr. Falchetti said. “Fortunately the controls and checks instituted in China have worked.”
But just as the Shanghai factory was returning to normal, a 38-year-old man in Codogno sought treatment for flulike symptoms, triggering a test that showed he had contracted the coronavirus. Within days, the Italian government confirmed more than 150 cases in the country, with an especially worrying cluster in the area of Codogno. Soon, the regional government ordered that factory production cease.But just as the Shanghai factory was returning to normal, a 38-year-old man in Codogno sought treatment for flulike symptoms, triggering a test that showed he had contracted the coronavirus. Within days, the Italian government confirmed more than 150 cases in the country, with an especially worrying cluster in the area of Codogno. Soon, the regional government ordered that factory production cease.
On Thursday, the national government announced an aggressive response — a quarantine zone centered on Codogno that affected about 50,000 people.On Thursday, the national government announced an aggressive response — a quarantine zone centered on Codogno that affected about 50,000 people.
“Our first reaction was entirely supportive,” Mr. Falchetti said. “The health of our workers is paramount. Everyone wanted to make sure there were no unnecessary risks.”“Our first reaction was entirely supportive,” Mr. Falchetti said. “The health of our workers is paramount. Everyone wanted to make sure there were no unnecessary risks.”
But a week later, he worries that the quarantine is delivering a different kind of emergency — an economic crisis.But a week later, he worries that the quarantine is delivering a different kind of emergency — an economic crisis.
“I’m not sure the government, or anyone else for that matter, really realizes the economic damage this kind of forced inactivity can inflict,” Mr. Falchetti said. “You need to get back to work, to stay active, to rebuild.”“I’m not sure the government, or anyone else for that matter, really realizes the economic damage this kind of forced inactivity can inflict,” Mr. Falchetti said. “You need to get back to work, to stay active, to rebuild.”
He cannot visit his factory, leaving him to stew at home. He stares at his computer, keeping abreast of orders he cannot satisfy, while breaking off to play the piano.He cannot visit his factory, leaving him to stew at home. He stares at his computer, keeping abreast of orders he cannot satisfy, while breaking off to play the piano.
“It helps me relax,” he said.“It helps me relax,” he said.
Jack Ewing contributed reporting.Jack Ewing contributed reporting.