Question

write a paragraph relating the coronavirus epidemic to economics 202 as much as possible. thank you!

Answer 1

According to the World Health Organization, the new coronavirus which first appeared in the Chinese city of Wuhan last December has infected more than 110,000 people worldwide in at least 110 countries and territories.
The spread of the virus has been one of the biggest threats to the global economy and to financial markets.
Major institutions and banks have cut their estimates for the global economy, one of the latest to do so being the Organisation for Economic Co-operation and Development. Meanwhile, coronavirus worries have rocked markets across the world, with equity prices and bond yields plumming.

The epidemic has prompted big companies and banks to drop their global economy predictions. The Organization for Economic Co-operation and Development is among the first to do so. China is not the only country which has undermined the services sector. The U.S. financial industry, the largest consumer market in the world, has also been contracting

A decline in global economic activity has reduced oil demand, driving oil prices to multi-year lows. That happened well before a dispute between OPEC and its allies on output cuts triggered the current oil price plunge.
The spread of the virus in Italy and other parts of Europe is especially alarming and is likely to dampen demand in OECD countries, as well as fears about the global spread of the new coronavirus have also caused investors to bid up bond rates, leading to lower-inch yields in large economies. A.S. Treasuries, protected by the US government, are considered safe haven investments to which investors continue to run in times of market turmoil