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Monday, January 10, 2005

Tsunami no match for Sars

Hong Kong - Two of nature's most powerful forces - a monster earthquake and a massive tsunami - teamed up in southern Asia to cause death, human misery and destruction on a scale rarely seen before.

But when the total economic damage is tallied up, many analysts and economists say that harm done to the region's economies won't come close to the financial havoc caused by the mysterious little virus that triggered the global Sars outbreak in 2003.

"Barring severe aftershocks, the hits to the region's tourism industry and GDP growth are unlikely to be anywhere close to the damage caused by the Sars outbreak in the first quarter of 2003," said Rajeev Malik of JP Morgan Chase Bank in Singapore.

Read more here

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