The Impact of Covid 19 on the world Economy

 

The virus causes one-third of the world's coronaviruses in India, Brazil, and the United States. The virus has devastated economies around the world, dramatically affecting the lives of millions. It has also hampered the running of daily life.

The crisis has called for urgent action to eradicate the epidemic, complete the economic downturn, protect vulnerable populations, and pave the way for long-term rehabilitation. Highlighted For emerging markets and developing countries, where many people face difficult risks; it is important to strengthen the public health system, address the challenges posed informally, and implement these reforms.

 The Impact of Covid 19 on the world Economy

 Which will support strong and sustainable development after the end of the health crisis? Until governments around the world control the coronavirus, human casualties and its economic effects will continue to grow.

The coronavirus poses a serious threat to the stability of the entire global financial system. So far, national governments have not taken any specific steps to strengthen their economies. Now is the time for policymakers to adopt a coherent and credible strategy to address the economic downturn and avoid the most dangerous disease in our society (Cove-19). Let's take a look at the difficulties below.

Every country has its own!

The great change from the coronavirus is that it has torn apart the alliance of different countries. Now every country is turning into the "first in".

 The United States and China And the United States has made it mandatory for every Chinese company to have its accounts checked under its laws. By 2022, all Chinese companies that do not do so will be blacklisted.

 India has also barred many Chinese companies from operating in the country, setting up a new system for customs clearance of Chinese products. The Indian government has instructed us to open each container and inspect the products carefully.

China has also retaliated. Meanwhile, the four countries have forgotten the United States and started working on creating a separate "joint superpower". A new "global" comprising Canada, Australia, New Zealand, and the United Kingdom. Work has also started on the formation of "Super Power".

The third major shock to the global economy:

Global economies rely on healthy minds and bodies. Economic costs are also rising, not only in China but also around the world. Fear of the virus also means that many people will choose to avoid activities that they think could cause the infection.

 That is why restaurants, cinemas, transporters, hotels, and shopkeepers are all feeling the effects. The coronavirus is the third and biggest economic shock of the 21st century since the 9/11 terrorist attacks and the 2008 financial crisis.

The effects of the epidemic on the global economy are far worse than initially predicted. In China alone, the virus caused a 20 percent drop in GDP in the first two months of 2020, the same as in the rest of the world. People in the affected countries will not be able to maintain a good standard of living due to low living standards, poverty, and inhumane health policies towards humanity. Stock market fluctuations around the world have destroyed international companies. This can lead to a significant reduction in their internal affairs.

After the Dragon Holidays, the Chinese market has seen a significant negative economic trend. It has not yet fully recovered. Prices of industrial products have been particularly affected, with crude oil retreating to its lowest level in more than a year. Now the business has improved slightly.

Oxford Economic Consultancy predicts that the Chinese economy will grow by an average of 5.6% by 2020. Growth in the global economy is expected to be less than 0.2%. Herbert Wun, who manufactures hair products in Guangdong Province, said: "Many companies are not as lazy as the United States in waging a trade war with China.

 American traders are trying to move supply centers away from China, which will put more pressure on the United States itself. The international seating business is also closed in China. Concerns about the disruption are growing in integrated international supply chains.

Many good but low-cost computers and related products are also made in China. There are many computer parts companies that are working as the backbone of these component companies after these innovative products. The financial markets there have suffered the most from their business globally and they have really felt the terrible effects of this health crisis on their business.

 The Impact of Covid 19 on the world Economy

Unemployment and high debt trap: -

The number of unemployed worldwide could exceed 70 million. The World Bank fears that taking advantage of this poverty, some elements may even trap the poor inexpensive loans. In 20 developed countries, 66 million workers. 3.8 crore (5.7%) people applied for unemployment allowance.

13% of workers in the United States receive unemployment insurance. According to a Gallup survey, 1.73 crore people in Pakistan may lose their jobs due to this virus. There are 6.17 crore people employed here, out of which 28% are feared to be unemployed due to coronavirus. According to the survey, if the lockdown lasted longer, another 40 percent of jobs would be at risk.

Outbreaks appear to be exacerbated during this period, especially for women who are struggling to maintain the economic stability of their families and societies. A recent report by the Council on Foreign Relations found that 25 million people worldwide are subjected to "forced (bonded, kiln or slave labor) and that cam production is estimated at 150 billion annually, from the coronavirus." That number is expected to rise further.

According to a report in the foreign journal Foreign Relations, "72% of the victims of human trafficking are women and girls. Now they have become more insecure. Most of them are going through a period like slavery." Low pay, imprisonment, violence, and inhumane treatment are common. A UN report has revealed that 102 countries have also cut off funding for shelter houses set up to combat human trafficking, making them more vulnerable to human trafficking. Attempts to flee will also make a difference. And since law enforcement used to be the source of information for fleeing women, it would be difficult to rescue abducted women if the source was shut down. 

 The Impact of Covid 19 on the world Economy

Worldwide Poverty: -

According to one estimate, the number of Westerners worldwide increased to 60 million by April, but as the epicenter shifted from China to the United States and then to Europe and Asia so did poverty in those countries.

The United States, China, and other countries have bright prospects for economic recovery, but Asian countries, Africa and Latin America will take time to recover from the adverse economic effects. At present, Corrona's pressure on the southern part of the world has paralyzed business in those regions. Deaths in low-income countries are also rising sharply. As many as 45353 out of 2267153 patients of Tadam Tahrir Corona have died in India. India's weak public health infrastructure is not capable of treating corona.

Poverty in India, Africa, and the Pacific: ---

Coronavirus has led to a significant increase in poverty in African countries. The income of a 1.9 earners are now 1.50 a day, which has increased the number of poor people. Rising inflation and shortage of food Folded

Even those earning 3. 3.2 a day in African countries are feeling somewhat in trouble, and if the effects are not controlled, those earning 5. 5.5 a day will be considered poor. An increase of at least 176 million people are expected.

 The situation is similar in East Asia and the Pacific. India, Nigeria, and the Congo are home to one-third of the world's poorest people. Nigeria's GDP growth rate is expected to be -0.8%, India 2.3%, and Congo 0.3%. The growth rate will be much higher. The population will grow at 1% in India, 2.1% in Nigeria, and 3.1% in Congo. Poverty in South Asian countries, including Pakistan, could increase at the same rate.

Slavery will increase in India, the global report: -

Reuters quoted its correspondents in Chennai, Anuradha Nagraj, and Roli Srivastava, as saying,, Forced and child labor may increase. ”He proved in many respects that millions of unemployed people after the coronavirus could be caught in a vicious cycle of human trafficking.

 The Impact of Covid 19 on the world Economy

Even those who borrow a few thousand rupees for the marriage of their daughters are finding it difficult to repay the money, but they cannot avoid it. ”Bhagwan Das took 78 787 for his daughter's wedding in 2017, which he has so far. He could not pay. He had no choice but to keep his own son with the bonded laborers (mortgage or slave).

In India, the number of people living below the poverty line has now increased by several lakhs, whose lives could be economically destitute. Although no survey was conducted, it is said that the new number of people living below the poverty line could exceed 320 million, including a large number of Muslims.

Another way to detect coronavirus
The golden points of plus size fashion