Question

Provide a professional well-written editorial opinion on MERS Virus impact on thw economic during its outbreak.

Answer 1

The impact of outbreak is severe for economy hitting each and every person from the big business tycoon to a daily wage labourer. Economies had faced worst depression ever since Second World War, even leading to the challenges that global economies have never witnessed before. Worldwide nations have announced lockdown to contain spread of virus, which shuts down every sphere of economy being it government or private institutions, small enterprises, all forms of daily wage earners like vendors, hawkers and what not. This devastated livelihood of each person forming the economy of nation leading to gloom over ever growing national income.

It hampered the supply chains, affecting each stakeholder from conducting their smooth working operations. Farmers had stocks piled up of their produce as transportation was not available due to stringent lockdown measure, moreover demand in the economy plunged to the lowest levels furthering to deep fall in prices of farm products and other goods. Due to nationwide shut farm labourers were not able to reach their hometown for harvesting season, as a result crops were rotten in the farm lands, hitting badly the one heavily dependent on agriculture for their livelihood. Moving to retailers, they witnessed a historical level downfall in demand as consumers have no income or meagre income have curtailed their demand. Customers are not been able to cope up with burden of fragile purchasing power.

With such low economic activities, employment ratio has drowned as organizations are laying off large number of employees and thereby very few new job opportunities are coming up which is surmounting unemployment levels. Researchers are predicting that global and national economies would take at least next five to seven years to return back to normal.