Question

what is the impact of corona virus on african economies? 1000 words

Answer 1

The global problem of novel coronavirus (COVID19) emerging from China has sent the world in a state of panic . Our world is battling a pandemic, one that is disrupting world markets, leading to stop of the global trade, challenging emergency healthcare preparedness of states, disrupting normal lives.
With more than 27 LAKHS OF active cases worldwide as per the news from global wordwide and it has lead governments across the world to take preventive measures and are encouraging its people to adopt a Rule Of SOCIAL DISTANCING and Adopting Measures like LOCKDOWN in the country. If we talk from travelling to mass public gatherings, from resturants to E-Commerce websites everthing had been LOCKDOWN.

It is very important to understand that this virus is being rapidly taking a new level of heights. In the matter of days and weeks , countries have seen that many employees have been fired from there jobs as business in not taking place , Trade have completley stoped betwwen the cities, states and even countries. From school to colleges and sharemarket throughout the world have shown a downfall. So at this time time it is very important to understand whether the AFRICAN countires is ready to handle such crisis or not?? or what or how it will impact the african countries .

As the African countries have a Great Tie- UPS with the China it can be seen that it has a greater impact on African country speicfically. More than thousands of students  have migrated to China for their higher education ,More than one million people of AFRICAN countries are living in China, it had impacted and will impact more in near future in trading of the AFRICAN countries and CHINA .

AS far a economic part is concerned COVID -19 has lead to the downfall of the African Countries to great extent . ECONOMY includes Supply and Demand Functions. Virus have impacted both the side of the economy. Supply in the country will be impaired as factrories and offices are shut down, leading to the shortage of the supply in the country.This will lead to value creation as well as global trade is stopped due to the spread of the virus, thus leading to the decline in the supply process. Due to less supply of products , this will lead to inflationary pressure on the economy and thus lead to incease in the prices of the goods. IF demand is considered , as people are living in their homes due to the LOCKDOWN , this will lead to major impct on OIL INDUSTRIES , TOURISM INDUSTRIES also .

Before the outbreak global economy was under pressure due to the oil price preciatated by the SAUDI ARABIA. This novel corona virus wil lead to the US-CHINA TRADE WAR , which can be seen even now. KEY sectors such as Tourism, Mining , Aviation and hospitaltity has been severally impacted.

Now the healthcare part is concerned , no doubt the cases were slowly recorded but it has taken roots now . African countires has sucessfully controlled and monitored travellers from virus hot spots. Testing has been done on a large scale , that's why spread is able to controlled . Moreover the Social Distancing may not work in african countires due to the overcrowed slums and cities .People dont have luxury or the resources to take over. People have to come out of the house to earn a livelihood and survive.

Specualtions and debates will continue but this fight of the virus will only be dealt if people follow the rule of social distancing and will help each other in such crisis . Both the People and African governments need to work together for the betterment of the communities.Therefore every person needs to be helping hands for each other but remembering the rule of SOCIAL DISTANCING ....