AKE's Special Report report assess the potential economic impact of the reaction to COVID-19. Official reports say a new strain of coronavirus, known as COVID-19, has reportedly infected 93,573 people. Of these 3,204 people have died. 80,282 of those infected are in mainland China, with 80 other countries or territories also reporting cases – including Italy, Japan, Singapore, South Korea, Vietnam and Thailand.Nonetheless, it is overwhelmingly likely that the largest effect of the COVID-19 virus will not be its direct effect on health. Fear of the virus is resulting in state and individual action to reduce the risk of contagion. These actions will create economic impacts that will go well beyond the direct health implications of the outbreak. The report looks at three scenarios of the potential trajectory of the pandemic, varying from a baseline case to more destructive scenarios.