The Perfect Storm!!
About 2,79000 cases, 80,000 deaths, and counting.
Coronavirus is the first ‘global health emergency of our new era of major power competition. It will affect global markets, but also geopolitics.’: made official by The World Health Organization.
Reports say the virus has already hit more than 15 countries. A SCARE to the World Economy, an unexpected drop, an unprecedented evolution. The loss is predominant and still counting.
The economy of many countries is being hit by the effect of the virus. Stock Markets, big & small business projects, aspiring ventures and above all, human health. The economic growth has almost come to a halt in China.
The coronavirus could cost China’s economy $60 billion this quarter- analysis says.
Chris Zaccarelli, chief investment officer for the Independent Advisor Alliance, predicts: ‘The Chinese economy—and possibly the world economy—will take a hit in the short run, and lower prices are a rational response to the increasing spread of the coronavirus.’
Factories in China remain closed and millions of people are not allowed to leave their homes and are also banned from traveling out of the country.
The outbound travel from China has fallen to nearly 60%, due to the imposition of government travel restrictions, after the coronavirus outbreak.
The travel business has been affected in all parts of the world. America is the worst affected country relatively, while it is a complete No-show in the Asia Pacific.
Travel to Europe, Africa & the Middle East is down by a huge percentage. Australia could be one of the countries, worst affected by the economic impact of the coronavirus outbreak.
All international business with China has been affected massively. But as is said- ‘your loss is my gain’, there are some in affected parts of China who are benefiting from this so-called destructive Storm.
The online businesses, like food delivery, medical products delivery, grocery, etc, are into business. As people are restricted from going out of home, they are compelled to order online, though under very tight precautionary measures.
So while travel, entertainment, and large manufacturing companies suffer a great loss, there are companies who have gained from the outbreak of the virus.
Buying online products have increased by a good percentage. As people stay home they are more likely to shop for goods online.
The update in the economic news says that medical product manufacturers in Indonesia, Malaysia, and more countries are into business and their stocks are hitting high.
Some Medical companies within China itself are in good business too because of the sudden demand for Medical products.
‘In 2003, the Severe Acute Respiratory Syndrome, or SARS epidemic impacted more than 8,000 people in 26 countries,’ according to the World Health Organization.
The continued spread of the coronavirus is “more infectious” but less severe than the SARS epidemic, health experts have told CNBC.
It is estimated that pandemic disease events would cost the global economy over $6 trillion in the 21st century — over $60 billion per year,- A 2016 study by the Commission on a Global Health Risk Framework for the Future – Shocking
But as long as there is LIFE on earth, there is hope. So we all hope China and all the other affected countries deal with this epidemic diplomatically and strongly, and come out victorious. Let’s hope recovery brings back a booming economy.
I am Barbara Mathilda, a lady who walked the earth 60 years in grace. Born and educated in Kolkata, India. I have a very strong Convent School background and professional training in Computer Applications. Worked in very good organizations such as; World Bank, Projects of The American Embassy, Sequoia Capital, CF Italia, Odgers Berndtson and the like.