There has been much speculation already about the long-term impact the coronavirus outbreak might have on the economy. Will it mark another nail in the coffin of globalisation, causing companies to reassess their reliance on extended supply chains and just-in-time manufacturing systems? The truth is that it is still too early to say. It’s possible that attempts to contain the outbreak will prove successful. While the government expects a surge in cases in the coming weeks, Chris Whitty, the chief medical officer, remains hopeful that the peak will be reached next month and then subside. Although the economic slowdown poses grave challenges to many businesses, the shock should prove temporary, as Mark Carney, the governor of the Bank of England, noted.

Nonetheless the coronavirus outbreak