The US Faces Hoarding, Europe Closes Borders... Confusion Amid COVID-19 Spread (Comprehensive)

A Walmart shelf in Ohio, USA, was emptied due to a rush on essential goods. [Image source=EPA Yonhap News]

[Asia Economy Reporter Hyunwoo Lee] As the novel coronavirus infection (COVID-19) rages, panic buying fueled by fear is intensifying in the United States. Although U.S. President Donald Trump personally attempted to calm the panic buying frenzy, it has proven ineffective. In Europe, as the spread shows no signs of slowing, high-intensity measures such as nationwide store closures have been implemented in Spain and France following Italy, and border closures are continuing in various countries.

According to foreign media including CNN, on the 15th (local time), President Trump emphasized at a White House press briefing on COVID-19, "There is no need to buy too much. Calm down and relax," adding, "Retailers will remain open and supply chains will be firmly maintained." His remarks were aimed at calming the worsening panic buying in the U.S., but instead, panic buying has intensified.

According to Bloomberg News, Walmart, the largest retail company in the U.S., has decided to shorten operating hours from 6 a.m. to 11 p.m. at its 24-hour stores starting today due to rapid depletion of inventory caused by intensified panic buying. Most Walmart stores in the U.S. have seen a sharp increase in purchases of groceries and detergents, and some locations have sold out of toilet paper and hand sanitizers, leading to the decision to reduce operating hours to secure products. Dakona Smith, Vice President of Walmart U.S., stated in a press release, "An unprecedented situation is unfolding," and added, "By shortening operating hours, we will be able to secure the insufficient products."

In the U.S., as the cumulative number of COVID-19 confirmed cases rose to 3,667 and cumulative deaths to 68 by this day, the U.S. Centers for Disease Control and Prevention (CDC) announced that gatherings of more than 50 people should be banned for the next eight weeks, spreading fear. Along with this, projections have emerged that the number of COVID-19 infections could exceed 200 million. The New York Times (NYT) reported the previous day, citing analyses by the U.S. CDC and medical experts, that the cumulative number of COVID-19 confirmed cases in the U.S. could reach between 160 million and 214 million. The cumulative death toll could range from 200,000 to 1.7 million. As fear grows, social chaos such as panic buying of goods in the U.S. is expected to worsen.

In Europe, following Italy, Spain and France have also taken extreme measures to close commercial facilities except for essential goods stores and pharmacies. The Spanish government declared a state of emergency the previous day and issued a nationwide lockdown for 15 days, closing all commercial facilities except essential goods stores, hospitals, and pharmacies, and requiring all citizens to self-isolate.

On this day in Spain, Maria Begona Gomez Fernandez, wife of Prime Minister Pedro Sanchez, tested positive for COVID-19. In France, indefinite school closures and commercial facility closures were also implemented. French Prime Minister Edouard Philippe announced at a press conference, "Until further notice, all multi-use facilities not essential to national operations will be closed as of midnight on the 15th, including cafes, restaurants, and cinemas."

Border closure measures have also been implemented in various countries. Germany, located in central Europe, announced on this day that it would control its borders with France, Austria, and Switzerland, and decided to apply the same border control measures to countries such as Denmark, Poland, and the Czech Republic, which had already controlled their borders with Germany. The German government had previously decided not to close borders, citing the need to guarantee free movement within the European Union (EU), but changed its strategy to prevent the spread of COVID-19 as the cumulative number of confirmed cases surged to 5,813 on this day.

This content was produced with the assistance of AI translation services.