Chamber of Commerce Warns COVID-19 Could Bring Economic Crisis

Chamber of Commerce Warns COVID-19 Could Bring Economic Crisis

The United States Chamber of Commerce pointed to signs that the COVID-19 pandemic is not over and could bring severe economic ramifications.

“This virus is not behind us as long as the virus is out there, in the numbers that we see in India, the millions of cases there, and of course spreading elsewhere. If we don’t put it under control, these countries are going to be severely challenged in dealing with not just the health crisis, but the economic crisis, and this is where America needs to stand up,” said Myron Brilliant, the Chamber’s executive vice president and head of international affairs, according to The Hill.

The Chamber will be hosting a forum on economic recovery this week that will include around 10,000 participants from 130 countries. Sen. Mitt Romney and Microsoft founder Bill Gates are said to be participating in panels.

“I’m optimistic about the United States’ recovery. I’m a little worried about some of the mixed signals out of China, the Dow recently has not been terrific. But we’re going to see growth in China, we’re going to see growth in the United States, hopefully some rebound in Europe over time. But that doesn’t matter if we don’t work together as a global community and deal with the potential of additional waves of this virus,” Brilliant added.

Brilliant said he had a call this week with U.S. companies leading the effort for relief in India. “Certainly we’re not out of the woods here,” Brilliant continued. “The danger is in front of us if we don’t address this pandemic and deal with the challenges in countries around the world, including India.”

On Tuesday, India saw a record number of COVID-19 deaths totalling 4,329. Cases in India have tripled, and the death rate has since increased sixfold.

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