US compared to Italy - Economic Turnaround

An article by Matthew Harrison, head of biotech industry research for Morgan Stanley, forecasting the economic turnaround in the US will be slow as the US response was worse than Italy.

Markets still too sanguine about coronavirus threat

2-points (mine):

1) Italy was and is especially hard-hit due to their strong family and social cultures, greater than in the US, and their density, also greater than the US at large. Compare Italy's infection rates to New York city, and the comparison becomes less clear, which means the forecast is not as dire per Mr. Harrison.

2) The financial structures in the US are more efficient than Italy's.