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In: Economics

Describe in 250 words how the pandemic and the racial unrest has affected today's business .please...

Describe in 250 words how the pandemic and the racial unrest has affected today's business .please type

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Expert Solution

As we know that, coronavirus is an ongoing pandemic which have gripped the whole world under it. The coronavirus has originated from the Wuhan city of China in 1 December 2019. From there it spread to other countries of the world. The COVID-19 is related with SARS-COV-2 virus. The WHO has declared COVID-19 as pandemic on 11 March 2020. The coronavirus has it's presence in 189 countries and territories of the world. China was once on the top of list with most number of death's and positive cases. If we will look towards the present trend that is 23 June 2020, then US is the most affected country of the world with most number of death's and positive cases.

The coronavirus has severely impacted the business operations of the world. The countries are on complete lockdown. The business,trade, commerce, tourism, education etc all are impacted by COVID-19. The most business operations around the world are shut. The international trade is closed, the borders are closed. The fact is that the pandemic has devasted the world economies. The world is heading towards recession. The unemployment date is on increase, with falling output and continues increase in price level. The impact of the coronavirus (COVID-19) is being felt by all businesses around the world. Leaders are navigating a broad range of interrelated issues that span from keeping their employees and customer safe, shoring-up cash and liquidity, reorienting operations and navigating complicated government support programs.

The mass racial unrest is on increase in US day by day. This unrest is also called race riots. The white and the black groups are continuously fighting with one another on racial grounds. The United States is witnessing widespread protests against the recent death of George Floyd, a black man, by the action of police. The anger in response to Floyd’s killing descended into rioting and looting in several cities.Protests have erupted in at least 140 cities across the U.S. in the days after Floyd's death.Violence spread overnight despite curfews in several major cities rocked by civil unrest in recent days.

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