‘In a matter of weeks, pillars of American industry essentially ground to a halt. Airplanes, restaurants and arenas were suddenly empty. In many states, businesses deemed nonessential — including luxury goods retailers and golf courses — were ordered closed.’
[NOTE: These figures, while they don't apply to many developing countries as a whole, give us a glimpse of how the more urbanised, consumerist parts of our economies may be affected. Also the patterns of spending give us an idea of what we may expect in large sections of the economy dependent on travel and tourism, including “medical tourism”, international students, retailing in malls, etc. They also tell us why we should now focus on basic needs.]
Read here (New York Times, April 11, 2020)
