Public behavior will determine economic impact of bird flu pandemic

Thursday, June 29, 2006 by: NewsTarget
Tags: health news, Natural News, nutrition

https://www.naturalnews.com/019500_behavior_flu_bird.html

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During a think-tank discussion, International Monetary Fund capital markets expert Charles Blitzer said, "Behavior, behavior, behavior is everything. We see a sharp down, followed by a recovery. Governments need to ensure the collateral damage from the sharp down be minimized so we bounce back."

The virus has killed 130 people in nine countries since 2003, but it has not yet mutated to a strain that easily passes between humans. Scientists fear that such a mutation is drawing close, however, and that it could be responsible for the death of millions.

Although the economic effect is already being felt by the poultry industry worldwide, U.S. Congressional Budget Office acting director Donald Marron is a bit more optimistic about the flu's impact on the world economy as a whole.

"The effects tend to be lower than you'd expect because people are good at adjusting," he said, noting the U.S. economy's resiliency after the Sept. 11 attacks and Hurricane Katrina. "A lot depends on the public reaction, which is difficult to predict."

Economists expect a drop in world demand for poultry (despite no risk of the virus spreading through cooked meat) and air travel. Conversely, jumps in revenues and stock prices are expected for pharmaceutical companies, as well as a jump in demands for cash from central banks.

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