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Across the world shops are putting the shutters up and people are being urged to stay at home.

Global commerce is winding down as governments step up efforts to slow the spread of the deadly new coronavirus.

Hello, you're listening to Money Talks on Economist Radio, our weekly podcast on the markets, the economy and the world of business.

I'm Simon Long and editor here at the Economist and coming up on today's show, as governments curb their citizens' activities, corporate casualties are mounting.

There is another scenario that ambitions a much longer period of downturn decline if the virus proves to be nastier.

And that's what businesses particularly worry about.

A peak inside America's pandemic era pantry shows the scale of the challenge facing one of the country's core industries.

Dairy.

It's a combination.

Economic conditions, cost of labor, the cost to do business has only gone up.

Everything has increased.

Plus, can global trade weather the current storm.

The data that we do have suggests that this is a very severe shock.

Despite efforts to curb the spread of COVID-19, the disease continues to wreak havoc.

As the number of deaths surges, governments have ordered people to stay in their houses.

Online videos have surfaced the Italian mayors in the streets shouting at residents to go back to their homes.

In Britain and elsewhere, gatherings of more than two people have been banned, non-essential shops shut and everybody told to work from home if they can.

Britain is a couple of weeks behind Italy, which has been in lockdown since March the 9th and which suffered a shocking weekend where more than 1400 people died.

Around the world, the number of corporate casualties is also mounted.

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