Question

In the early months of 2020, many sectors in Hong Kong have been hit hard by the COVID19 outbreak. Investigate how the COVID19 affects the various aspects of the economy, such as Gross Domestic Product (GDP), import and export, economic growth/economic recession, unemployment, and cost of living (inflation/deflation)?

Have the government remedial policies been able to revitalize the economy?

What appropriate policies should be taken to revitalize the economy of Hong Kong if your group were one of the policy-makers in the government leadership?

Answer 1

Covid-19 has became a serious problem for nearly 90% of the countries in worldwide.This pandemic not only affecting the health of the people but also destroyed the Country's GDP, by affecting on the imports,exports etc.

Here we are going to discuss about the impact of the covid-19 on the Hong Kong country.Hong kong is also severly affected by this pandemic.

a) GDP of the Hong kong reduces as main part of the gdp of that country depends on the Tourism which was banned at present due to lockdown by the country.Imports and exports were also stopped by the country in the view of the pandemic covid-19.As many organisations were stopped hence unemployment in the country also raises to the maximum point, hence as a result covid-19 destroyed the economy of HongKong in huge way.

b)Just a few days back as china removed lockdown, things are going to get normal in few days,as the technology was good in china it is easy for them to bring back thenormal days which were there before the exploding of this disease.But The main concentration of the nation will be on saving the lives of the people.

c)To overcome the unemployment issue, Hong Kong can train the workers who work on daily basis as health workers which in turn helps for the economy of the nation. if they train the labour there will be less starin on the existng health or sanitation workers.

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