In: Economics
Which Great Recession-related problems persist now that it is over? What actions would you take to mitigate these concerns?
The Great Recession related biggest problem in the economy at present is the Corona virus that is deteriorating the economies world-wide. This desease has become a pandemic and is whole world is at risk of it. Due to this, a majority of countries are using lockdowns and curfews in which people are not allowed to come out of their houses. The economy is also facing increasing unemployment as the production process worldwide has reduced. There economies are going downward and are showing clue that the economy might end up in the Great Recession.
Now, to control this coming recession, the countries can launch various initiatives. The work from home should be encouraged and new type of services which include proper home to home services while maintaining the social distancing. New products can be launched, products related to health, safety and others. The online education must be encouraged. In this time where the economy is falling new start-ups can be initiated by the people to decrease the unemployment and boost the economy in the countries. These concerns about the effects of corona virus on the world and possible recession can be avoided using these above given methods.