Jeff Mason and Byron Kaye

SYDNEY/WASHINGTON – Friday’s report by Australia of community transmission of Omicron was made despite the restrictions placed on foreign visitors. It comes one day after the same coronavirus variant was detected in five states.

U.S. President Joe Biden warned Thursday of an increase in infections during northern-hemisphere winter. The European Union’s public healthcare agency stated that Omicron could cause more than half the European infection rate within months.

On Friday, Australia’s chief physician stated that Omicron would likely become the global dominant variant within months. However, there is no evidence to suggest it is any more hazardous than Delta.

“I think within the [next few]Omicron will become the next virus within the world in months,” Paul Kelly, top Australian medical advisor, said to reporters.

He made his comments following the first reported case of transmission in Australia. Australia has since closed its borders to southern Africa at high risk, and is now one of several countries to impose travel restrictions.

On Thursday, global travel restrictions were accelerated by Russia, Norway, Hong Kong and the Netherlands, who announced new measures to stop the variant from crossing their borders.

This is causing havoc in the travel industry. It’s destabilizing major economies and pounding the financial markets just as the economy was beginning to recover after the Delta lockdowns.

After overnight Wall Street losses, shares in Tokyo and South Korea dropped on Friday. However, traders must wait for at least a week before receiving any answers from the global health authorities regarding the variant’s virulence or resistance to vaccines.

Germany, Europe’s most important economy, stated it would ban the unvaccinated in all other businesses. In addition, legislation would make mandatory vaccinations.

Many countries, including the United States, were proposing plans for booster shots. However, it is not as controversial as travel bans. Australian officials said Friday that there is no evidence such actions would prove effective.

Janet Yellen (US Treasury Secretary) stated that, despite the uncertainty surrounding this variant, it could slow down global economic growth. This is because it will increase supply chain issues and lower demand.

It could create significant problems, though there is still a lot to be uncertain. We’re still evaluating that,” she told the Reuters Next conference https://www.reuters.com/business/finance/us-treasurys-yellen-says-ready-retire-transitory-describe-inflation-2021-12-02 on Thursday.

PLAN BIDDEN

Biden presented his strategy for fighting the coronavirus on Thursday.

He said that “We are going to fight the variant with science, speed, and not chaos, and confusion,” while speaking at Maryland’s National Institutes of Health medical research center.

Under Biden’s plan, https://www.reuters.com/world/us/us-require-private-health-insurance-companies-cover-at-home-covid-19-tests-2021-12-02 the United States will require inbound international passengers to be tested for COVID-19 within one day of departure, regardless of vaccination status. Extended mask requirement for planes, trains, buses and other public transport vehicles to March 18.

Administration officials announced that the U.S. will make private insurers pay 100% for their customers’ COVID-19 test costs. 50 million additional tests will be free for those who are not covered by insurance through health centers and rural clinics.

New York discovered five Omicron coronavirus variant cases, according to its governor. This makes it the fifth state in America to have detected the variant. It brings the number of infection to nine.

California, Colorado, Hawaii, and Minnesota are all other U.S. States that have seen Omicron cases. The patients in all cases developed mild symptoms. All but one of the four were fully immunized.

A mere 60% or 196million people in the United States have had their vaccines administered to them, which is one of the lowest levels among the wealthy countries.