How could lockdowns have helped the economy?
Here’s one good example.
In June, as COVID-19 ravaged Brazil and the country surged into second spot when it came to global infections, a judge ordered Vale, the country’s mining giant, to suspend operations at mines accounting for around 10 per cent of national output.
The order followed positive tests from 188 workers as fears grew the outbreak would spread through other mines, potentially nobbling the country’s lucrative trade with China.
As China’s second biggest supplier, the news sent iron ore prices surging beyond $US100 a tonne and since have topped out at more than $US120 a tonne.
Guess which country filled the breach?
Western Australia, which has seen its tourism sector slammed by the border closure — domestic and international — effectively eliminated community transmissions back in April and has experienced only minor outbreaks since.
While the restrictions have hindered some fly in and fly out workers, the Pilbara mines haven’t missed a beat. Analysis