Question

1. Although the outbreak of covid-19 has had adverse impact on the most economies, policy-markers believe it is an opportunity for developing countries to build their economies. To what extent do you agree with this statement?

Answer 1

Covid 19 brought a pandemic situation on the whole world. The world is stopped and no pregress is being made on any front especially trade as to a result of precautionary measure. It must be noted and observed that the biggest capitalistic companies and the big giants across the world are facing the major impacts of the lockdown. They not just lost a huge market but also have to pay their employees from across the world , as a moral obligation .

While every aspect of this pandemic looks like all back and doomed , there is some light at the end of the tunnel. The developing nations see this as a reset to all the dependency the countries had on these big giants from across the world . With the closing of economies this is the perfect time for the domestic small companies to take over their share of business from the high demand being caused with the economy shutting down. Not only this since the comparing brands who sell on lower prices have to rise the prices due to pandemic situations giving domestic producers a fair shot to capture the market.

To conclude this is the best time countries can actually work in favour of the domestic producers especially for developing nations and establish their reach with in the domestic market without major competition from the outside world big giants.