In: Economics
The world has experienced a major crisis due to the rapid spread of the Coronavirus: • What are the effects of this crisis on the image of China, The United States, and Europe? • What is the role of international public relations in changing of the image after the end of the virus? And how?
EFFECTS ON CORONA VIRUS;
1} IN AMERICA
As per the reports US is the nation with the most number of infected persons and the nation with a highest number of death rate reported. The outbreak of COVID-19 has created a devastating effect on both the life of people and the economy. The economy is moving through a condition that it has never faced before this condition.
The tensions created over the stock markets and the emergency cut rates by the Federal reserves outlines how the economy is severely negatively affected with this outbreak. This outbreak of corona has led to a worse condition of economy than the China affected. When the face to face interactions and transactions began to stuck suddenly and people are not able to move from one place to another the situation become critical and the economic activities in an economy become interrupted.
The interruptions and interventions in the supply chains are also an important negative effect of the outbreak of the disease. The demand for the essential things will increase and it is very difficult to balance with the supply of these goods and services. And there we can see two possibilities in the coming future either the circumstances will be cleared in short time or it will stands for a long time and will result the economic conditions in a hardly manner.
2} IN CHINA
China is the nation believed that the noval Corona virus has originated. And it is the nation where the virus outbreak is first reported. One of the world's biggest economy, the nation is severely affected with the outbreak of the disease. One of the most important issue associated with it is the disruption in supply inside the nation. As a preventive measure many transportation ways are blocked and the production in various sectors has locked.
Being the central part of the global supply chain, the production across the world is Interrupted in a very great extend. And many of the corporations including Alibaba has stopped their production and it negatively affected the economic activities of the country. The various fields including tourism, retail, catering, entertainment, transportation and many others faced a great negative impact. The Service and industrial sectors which contribute 90 percentage of nations GDP has Interrupted. The strict and effective measures by the government has helped to step outside from that condition and now the nation is on the way to solve the problems.
3} IN EUROPE
Many of the European union countries are severely affected due to the outbreak of the COVID-19. Many of the nations affected in a great extend and it is highly difficult to step out of the condition. The Europe is facing such a severe and harmful negative impact that has never faced. Many of the nations account with a large number of affected persons and a high death rate.
The nations which shares a common single currency in the European union will implement certain measures to fight against the disease with a common aim and to tackle out of the condition as soon as possible.
ROLE OF INTERNATIONAL PUBLIC RELATIONS IN CHANGING IMAGE AFTER END OF VIRUS
The outbreak of the COVID-19 outlines and make understood about how much the nations are economically dependent and rely on each other. No nation in the world has individual existence in full term. Because as a result of globalization there has formed bonds between the nations. And they become economically integrated.
Due to the spread of Corona the global supply chain has effected. And it will be resolved only if the exchange ( both the import and export) between the nations restored. And the world is going to face a recession in the coming future and the world has to fight against the recession with a unity and only by which the situation can be tackled and cleared easily. So every nation must identify their interdependence and to formulate the international public relations in accordance with it. The international relations must be strengthened to overcome this condition.