The global economy as a result of Coronavirus.
The Coronavirus pandemic has hit almost the entire world. Because of this, supply chains all across the planet have been hit hard. And so has the global economy 2020. Countries are going to find it hard to restore these supply chains to what they used to be, before the Coronavirus disease outbreak .
All over the globe, factories have shut down, although there are reports that in some countries, factories are now opening. Though how people will work with the fear that the person standing next to him/her could be suffering from COVID-19, defeats the mind. The current global economy is of the kind that has never been seen before.
There are travel restrictions all over the globe. Meaning that many cab drivers, bus companies and train companies, are losing money, big time. Almost all airlines have shut down, which is a huge loss for airline companies – and the people who work for them.
The technological supply chain has been disrupted on an international level. And the irony is, a primary component of this worldwide supply chain, is China.
Needless to say, the global economy has gone for a toss!
And of course, one cannot neglect the impact that the Novel Coronavirus must be having in China. It cannot be forgotten, how the deadly virus broke out in Wuhan, China, in December 2019 and resulted in chaos and death all over the globe. And it appears that the killer virus has not spared China. China’s exports have fallen down drastically. Many businesses in China are seeing very few customers, if not none. Many small businesses, including restaurants, have shut shop. As a result, many workers have lost their jobs.
Millions of people are not going to work!
Such is the situation, of the global economy as a result of Coronavirus, no one knows what the future holds!