The Economic Impact of Coronavirus

Summary

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Down to Business English

Episode: The Economic Impact of Coronavirus

Hosts: Skip Montreux & Samantha Vega
Date: March 21, 2020

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Episode Overview

In this special episode of Down to Business English, hosts Skip Montreux and Samantha Vega tackle the pressing global issue of the coronavirus (COVID-19) pandemic and its rapidly evolving economic impact. The conversation centers around the unprecedented changes affecting industries worldwide, with a particular emphasis on travel, tourism, and the broader business environment. Designed for ESL/EFL listeners, the episode naturally introduces business terms and contemporary vocabulary relevant to the current crisis.

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Key Discussion Points & Insights

1. New Zealand’s Border Closures and Immediate Effects

• [00:21] Samantha’s Perspective:
  Samantha shares that, while New Zealand has implemented some of the strictest border controls—even stricter than Italy at that moment—she personally doesn’t feel “cut off” yet.

  • “As of March 16, anyone entering New Zealand must now self-isolate for 14 days.” —Skip ([00:28])

• Tourism Industry Hit:

  • Both hosts agree this move will deeply impact New Zealand's tourism industry.
  • “It is sure going to hurt the tourism industry very hard.” —Skip ([01:02])

2. The Broader Economic Impact

• Ripple Effect Across Industries:
  Samantha and Skip discuss that tourism is just one of many sectors affected.

  • “This coronavirus pandemic… will have is having a huge impact on many industries around the world, not just tourism.” —Samantha ([01:06])

  Skip highlights that businesses globally are taking unprecedented measures:

  • “Take a glance at the news headlines and you can quickly see all kinds of unprecedented steps that businesses are taking around the world in reaction to the spread of this virus.” —Skip ([01:15])

3. Framing the Main Topic

• Focus on Economic Impact:
  • The hosts confirm they’ll be focusing on COVID-19’s effect on business and speculate on long-term changes in global business practices.
  • “How is this global health crisis impacting the world economy? And what long-reaching effects will it have on how business is done in the future?” —Skip ([01:38])

4. Origins and Terminology

• Pandemic Overview:
  Samantha gives a brief summary of how COVID-19 began in Wuhan, China late the previous year.

  • “What is now called the COVID-19 pandemic started late last year in Wuhan, China.” —Samantha ([02:16])

• Meaning of ‘COVID-19’:
  The hosts briefly touch on what 'COVID-19' stands for, hinting at the episode’s educational approach for language learners.

  • “Do you know what COVID-19 stands for?” —Skip ([02:24])
  • “As a matter of fact I do.” —Samantha ([02:28])

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Notable Quotes & Memorable Moments

• “As of March 16, anyone entering New Zealand must now self-isolate for 14 days.” —Skip ([00:28])
• “It is sure going to hurt the tourism industry very hard.” —Skip ([01:02])
• “This coronavirus pandemic… will have is having a huge impact on many industries around the world, not just tourism.” —Samantha ([01:06])
• “Take a glance at the news headlines and you can quickly see all kinds of unprecedented steps that businesses are taking…” —Skip ([01:15])
• “How is this global health crisis impacting the world economy? And what long-reaching effects will it have on how business is done in the future?” —Skip ([01:38])

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Timestamps for Key Segments

• [00:21] – Discussion of New Zealand’s border restrictions
• [01:06] – Broader impact on global industries
• [01:15] – Businesses’ unprecedented responses worldwide
• [01:38] – Framing today’s main topic: global economic impact
• [02:16] – Summary of pandemic origins
• [02:28] – Introduction to the term ‘COVID-19’

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Tone and Style

The hosts maintain a conversational and supportive tone, blending up-to-date business news with accessible explanations designed for non-native speakers. The episode uses authentic language and natural exchanges, serving both as an information resource and a language-learning tool.

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Summary

This episode captures the sense of urgency and uncertainty that characterized the early days of the COVID-19 pandemic from a business lens. Skip and Samantha share immediate, ground-level perspectives on government actions and predict major economic disruptions across industries. The discussion also paves the way for analyzing how global business practices might adapt in the post-pandemic world, while modeling useful business English vocabulary and phrases for learners.

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For the complete discussion and transcript, listeners were encouraged to become members and access the full episode.

Transcript

[A]

From Tokyo, Japan and Auckland, New Zealand, this is down to Business English with your hosts, Git Montreux and Samantha Vega. Samantha, I imagine that right about now you must be feeling a little cut off from the rest of the world.

[B]

Cut off? What do you mean, Skip?

[A]

Well, you know the Prime Minister in New Zealand?

[B]

Prime Minister Jacinda Ardern?

[A]

Yes, that's her name. Well, she just announced a strict strictest border restrictions implemented by any country, even Italy, for preventing the spread of coronavirus. As of March 16, anyone entering New Zealand must now self isolate for 14 days.

[B]

Yes, it's big news here. But no, I personally don't feel cut off. Not yet anyway.

[A]

Well, that is very good to hear,

[B]

but I wasn't planning on traveling outside the country anytime soon. For any Kiwis currently overseas or any tourists about to visit here, I'm sure the announcement is quite devastating.

[A]

It is sure going to hurt the tourism industry very hard.

[B]

Well, obviously this coronavirus pandemic will have is having a huge impact on many industries around the world, not just tourism.

[A]

Clearly. Yes. Take a glance at the news headlines and you can quickly see all kinds of unprecedented steps that businesses are taking around the world in reaction to the spread of this virus.

[B]

And is that what we're going to be talking about today? COVID 19?

[A]

That's right.

[B]

I thought so. There's no escaping the coronavirus topic these days.

[A]

Unfortunately, no. So let's do it. Let's get D2B down to business with the coronavirus. How is this global health crisis impacting the world economy? And what long reaching effects will it have on how business is done in the future? Now Samantha, I know that this is a rapidly developing story, but can you give us a little bit of an overview of this whole coronavirus situation?

[B]

Sure. As everyone knows, what is now called the COVID 19 pandemic started late last year in Wuhan, China.

[A]

Oh incidentally Samantha, do you know what COVID 19 stands for?

[B]

As a matter of fact I do.

[A]

Hi everyone. Skip Montreux here. You have just listened to the introduction to a members only episode of down to Business English. If you are a D2B member, you will already have received an email from us. And in that email are links to the full episode and its audio script. If you are not a member, don't worry, we will be back with a regular episode very soon. But if you find down to Business English useful in your self study language routine, you should really consider supporting the show and become a D2B member. Membership comes with three great benefits. First, there are member only episodes such as today's. The second benefit is complete access to the entire audioscript library. That library contains the audio scripts for each and every D2B episode, going all the way back to our very first season in 2010. And the third benefit is instant delivery of audio scripts of newly released episodes. Personally, I think this is a great benefit. No need for you to take the time and visit the website, log on and download the audio script. Within minutes of releasing a new episode, we send you a link to its audio script and you can start using it in your self studies right away. So what are you waiting for? Help support the show and visit the down to Business English website right now and get your membership today.