Coronavirus is creating more economic damage than health risks to the public. The coronavirus if directly affects your life then most likely you will not be going to work, this will force the employer to dismiss you from service or bankrupting your business.
Trillions of dollars have been wiped from financial markets. If governments do not take then we will have to face a worse situation than today. If President Trump fails to handle the situation it might affect his chances of re-election. Joe Biden said during America’s hour of need Trump is lacking steady, reassuring leadership quality. He pointed Covid-19 as a weakness for Mr.Trump.
Effects of Coronavirus
As of today, coronavirus has killed 4389 people worldwide. However, it will economically affect millions of people. An epidemic has formed an unpleasant situation with an oil war between Russia and Saudi Arabia, stock market crashes and Syria’s potential migrant crisis.
Vaccinating our economies against the incoming pandemic of panic is equally important as fighting the virus. The human can suffer in various forms such as illness, death, not able to pay bills or losing your home. Recently WHO confirmed coronavirus as a pandemic.
In particular, small businesses are struggling because supply chains dry up, leaving them without the product or essential materials. China’s Purchasing Manager’s index measure record low due to Factory closures in the country. China is the world’s largest exporter, so China’s problem is everyone’s problem.
Governments need to see this disaster as an economic crisis rather than seeing it as a health crisis. It is a wakeup call for Economists before the real pandemic spreads
In order to survive this global emergency the US, UK, and others will require to guard the future of their businesses, large and small. These countries need to look for opportunities to benefit from the new economic world order rather than denying it. If these changes are ignored then it will bring worse consequences than any flu pandemic.
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