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(Originally published in LinkedIn – March 2020) Yesterday, WHO Chief, Adhanom Ghebreyesus announced coronavirus outbreak as pandemic. In his announcement, he explained that the number of cases outside China had increased 13-fold in two weeks and he was “deeply concerned” by “alarming levels of inaction”. One day after the announcement, global market reacted today with massive sell-offs that also affected commodity prices as well. The announcement seemed effective in alarming market participants over what they have been anticipating, another recession. The large difference this time than the last one in 2008, it can create a large both