March 17, 2020
In the Media
But it is inaccurate to compare the coronavirus to these other events, said MIT professor Yossi Sheffi, director of the MIT Center for Transportation and Logistics, during a March 16 webinar. COVID-19 is affecting both supply and demand. And today China, where the pandemic started and factories have been affected for weeks, plays a much bigger part in the global economy than it did during past disasters. Businesses are also seeing a reduction in global demand because of fear and online distancing, he said, which could bring about a severe recession.
This is a so-called black swan event, Sheffi said: a rare, unpredictable disruption that causes lasting damage.