Question

Summary:
The covid-19 crisis will certainly cause a fall of global trade.

Explain what the expected impact of the fall in international trade on the Eurozone economy might be (exports, imports, exchange rates, poverty, income inequality). Present specific data to support your argument.

Please without plagiarism, thank you :)

Answer 1

Ans.
Impact of fall of global trade on Eurozone , post the Covid-19 crisis can be on the following lines :
The current pandemic can push the euro economy into slump at the magnitude that are unprecedented
As per the economists, the output in the eurozone is expected to shrink by 5 to 12% this year, however this may follow normalization and recovery in subsequent year
Also eurozone is likely to retain the interest rates at the current level of zero percent
Inflations is expected to remain close to 2%
Eurozone is expected to do trade lower by 8 to 10% in 2020. Exports are expected to fall by 10% and imports by 8%
Also the currency is expected to depreciate and many of the key eurozone industries like , airline , tourism, automobile etc., are expected to suffer huge job losses and economic losses
Eurozone has been already struggling with economic recovery due to Brexit and after COVID19 the impact is going to be very severe.