Question

1)how is coronavirus a) financial problem b) economy problem and c) health prob
2what is the interpretation of 3stakeholders view on coronavirus virus
3 identify a key solution and action plan for implementation

Answer 1

Ques 1: The COVID-19 outbreak, which was first detected in Wuhan in China, has impacted 185 countries.

Coronavirus as a financial problem:

1. COVID-19 brought down the global financial system to a new low, worst hit after the great recession of 2008. Fall in global interest rates, production halt not only in US and Europe, but also in the booming markets of Asia. Stock markets have hit all time lows in years. The FTSE, Dow Jones Industrial Average have all seen huge falls since 31 December, when the outbreak began.

2. Businesses have come to a standstill leading to job layoffs, freezed hiring, lower requirements of capital etc.

3. The service sector has been worse hit during this time especially tourism, luxury and entertainment business.

Coronavirus as an Economic problem:

1. It is quite evident that the need of the hour is to turn the economy off, to save lives, but the consequences would be catastrophic. From job losses to halted production, everything is rendering the economy come to a standstill.

2. With the huge crash in crude oil prices for the first time in history, this marks the beginning of recession that the World has never seen, even worse off than the financial crisis of 2008.

3. Lockdowns have led to business coming to a standstill, travel restrictions all around the World have impacted the Tourism sector to the core.

Coronavirus as a Health problem:

This is a huge health problem as it has claimed 2,39,029 lives, with 3,389,933 positive cases in the World. People have to be healthy first in order to go out and spend and thereby lift the economy. In an attempt to revive the economy, the Government should not lose focus on saving lives first.