Coronavirus Politics Daily: Elections postponed, markets rocked, curve flattened?

For the next few days, at least, we'll give you a roundup of key COVID-19 stories that jump out at us.

Coronavirus has forced the postponement of local elections in England until next year, though France and Germany are still going ahead with theirs. Some US states will hold presidential primaries Tuesday as scheduled, but Louisiana and Georgia have already postponed. A larger question looms: If this crisis continues into autumn, might the November 3 US presidential election be delayed? That's never happened in American history, and for good reason. The president can't simply order a delay. The election date, set in federal law, can be changed only by agreement of Congress, the president, and the courts…and the US Constitution requires that the new presidential term begin on January 20. Still, how the coronavirus affects perceptions of electoral legitimacy is a big, big question.

The financial response: Governments and central banks are taking steps on a scale not seen since the 2008 financial crisis to prop up markets and limit serious damage to the global economy. On Sunday, the US Federal Reserve cut its interest rate target to zero and announced other emergency actions to stabilize ravaged financial markets. The good news is that the Fed is coordinating with other central banks in the UK, Europe, Switzerland, and Japan. The bad news is that Wall Street and other global financial markets kept tumbling anyway. (Stocks tumbled more than 12 percent Monday, the biggest single-day drop since the crisis began.) That was partly because China published data showing a sharp contraction in economic activity in January and February as it locked down cities and factories to halt the virus. There are growing concerns that a similar, or even worse, contraction could hit Western economies that have so far failed to get a grip on the outbreak.

A quick explainer on FLATTENING THE CURVE: The point of all the social distancing and school/restaurant shutdowns is not to prevent huge numbers of people from getting COVID-19 – that's virtually inevitable over the next year. The point is to prevent huge numbers of people from getting it all at once, which can quickly overwhelm health systems. Most people who get COVID-19 will get better on their own after a rough few days – but you don't want the significant number of severe cases that do require hospitalization to exceed hospitals' capacity. Do whatever you can to flatten the curve! For an amazing visual on how coronavirus spreads with and without social distancing, see this WaPo interactive. And for a great piece of art showing how it stops in just twelve seconds, see this animation by Spanish artist Juan Delcan. Flatten the Curve!

More from GZERO Media

This week, in GZERO Daily, we will be rolling out our top political game changers of the year. Stay tuned, and check back here on Friday for our Top 10.

Syrian refugees in Ankara, Turkey, celebrate the fall of Syrian President Bashar al-Assad on Dec. 8, 2024.

Diego Cupolo/NurPhoto via Reuters

The toppling of Bashar Assad’s regime in Syria could significantly impact the future of Syrian refugees, in both neighboring states and beyond.

French President Emmanuel Macron shakes hands with US President-elect Donald Trump as he arrives for a meeting at the Elysee Palace in Paris as part of ceremonies to mark the reopening of the Notre-Dame de Paris Cathedral, in Paris, on Dec. 7, 2024.
REUTERS/Sarah Meyssonnier

Forget the Eras Tour: From Paris to New York City, US President-elect Donald Trump had a whirlwind weekend.

South Koreans hold a mass rally demanding the impeachment and imprisonment of President Yoon Suk-Yeol near the National Assembly in Seoul, South Korea, on Dec. 7.
Lee Jae-Won/AFLO via Reuters

President Yoon Suk Yeol survived this weekend's impeachment vote because fellow conservatives, in a show of unity, walked out of the National Assembly on Saturday. But his People Power Party is pushing for Yoon's resignation and an end to the chaos. We delve into what the coming weeks will mean for Yoon, South Korea, and the region.

As you start checking off everyone on your holiday shopping list, it’s important to remember that more online shopping means more opportunities for cyber scams. But don’t let the Grinch steal your holiday cheer! It’s time to make a list of essential cybersecurity tips — and check it twice — to ensure a safe and merry shopping experience. Unwrap some festive tips to keep your holiday season jolly and scam-free.

Listen: Donald Trump has promised to fix what he calls a broken economy and usher in a “golden age of America.” He’s vowed to implement record tariffs, slash regulation, and deport millions of undocumented immigrants. But what will that mean practically for America’s economic future? On the GZERO World Podcast, Ian Bremmer is joined by Oren Cass, founder and chief economist at the conservative think tank American Compass, to discuss Trump’s economic agenda and why Cass believes it will help American workers and businesses in the long run.

- YouTube

For almost as long as Donald Trump has been in the public eye, his economic worldview has been remarkably consistent: unfair trade deals and globalization have pumped millions into foreign economies while hurting US workers and businesses. That message resonated with voters who feel left behind by the global economy. Trump’s solution? Also very consistent: tariffs. Big ones. On Ian Explains, Ian Bremmer breaks down Donald Trump’s tariff plan and what it could mean for US consumers.