Federal Reserve Chairman Jerome Powell appears on a monitor at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, March 17, 2022 (AP photo by Ahn Young-joon).

One of the more concerning things about the virus that causes COVID-19 is the potential for its symptoms to linger long after the initial infection has waned. No one knows exactly what is causing “Long COVID,” as the disease is now known, but we do know that dealing with it will impose costs on societies for years to come. Not dissimilar are the pandemic’s economic and financial impacts. The initial symptoms of the crisis were acutely painful—economic downturns, business closures and supply chain disruptions. But now, as governments reopen their societies, they are realizing that some of the pandemic’s challenges may not […]

Patients in hospital beds wait in a temporary holding area outside Caritas Medical Center in Hong Kong, March 2, 2022 (AP photo by Kin Cheung).

After two years of controlling the coronavirus pandemic with stringent border restrictions and social distancing measures, Hong Kong’s zero-COVID policy has collapsed under the weight of the omicron variant. In the past few months, the city has experienced its largest outbreak of coronavirus cases to date, with tens of thousands of daily infections and a total of over 500,000 recorded cases as of Tuesday. The fatality rate has also soared, as the coronavirus ravages nursing homes in the city and afflicts its large population of undervaccinated elderly residents. Medical experts have attributed the spike in cases to a series of […]