Question

write a 3 pages paper about corona virus and its impact on the world economy.

Answer 1

Corona : another outbreak to be out broken

Epidemics are not a new things to this world and pandemics although not regular it keeps visiting us cyclical although out history and the interesting part is nothing of this could over rule us. In Darwian terms we can say that in the race for the survival of the fittest we are still very much fit to survive. But now the problem isn’t just about survival we have grown and we have developed although the ages and what next ? We can survive because its our basic instinct and we are masters in it one way or other but what about our growth ?Not just as a section or part but our collective growth and progression . The world is connected by globalization so Americas problem isn’t just Americans problem it’s the problem of the world, India’s problem isn’t no more India’s problem it’s a global problem so is for every nation . One way or other way we all are dependent on each other as a country. Exchange in trade, specialized work force, technology, weapons ,transportation, tools and multiple collaborations in various activities of business, research development and so on that it goes even outside earth to space exploration and from there to the infinitesimally small subatomic particle.

COVID-19 which originated in Chinas Wuhan Market initially received light attention or it was made so by Chinese Government .Soon it transformed into a contagion in short span of time from a outbreak in a market to epidemic and from epidemic to pandemic and there is no shortage for conspiracy theories in one way or other everything’s appears o be true but as the word conspiracy says its just a conspiracy so lets not dwell in it. The pandemic has presently while I am writing it has taken life of 52,983 Lives globally and millions infected. Countries, UNO,WHO,WTO,RED CROSS, WORLD BANK and so on everyone is working so hard to put this inside that glass jar and destroy it ones for all .

The worse part there is no vaccine nor direct medicines to cure it and every country is working hard to come out with one effective pill and various countries are working in collaborations as well.

The question is how can a disease outbreak effect a nation and world economy?

The answer is very simple : customers

Customers are the ones that determines success of market they shape market and they decide who survive and who degrades. Since the out break various nations have called for lock downs and curfews, various companies are forced to shutdown , some changed operating time, some even have gone to making utilities to fight the pandemic so working is no more normal that has put many at unemployment at a very short time of few months and its expected to go even worse than 2008 recession where 8.7 million has lost job. Thats one side of story where people don’t have money to purchase and shortage of making products available .

For service sector they work on by facilitating the efficient working of manufacturing sector since they are have now gone to a slow sate , it has directly put service sector under same situation that resulted in many unemployment, closure and many more in coming weeks and months ahead. The worse affect are upcoming and emerging startups who have just got into the rollercoaster .

Next is the supply chain and logistics who are even worse more affect by the partial global shutdown cargoes are not on move through land air or sea as many nations have shutdown their borders making it hard to supply raw materials from point of origin to transform it into finished goods and from there to market. Online shopping is no exception.

The world bank estimate Asia and east pacific Asia to be worst affect .So no doubt its gone affect adversely and its inexorable. But the is our basic instinct if its growth that matters for our survival we will get it done.