Coronavirus (COVID 19) hints us that a small virus, even we cannot see to our naked eye, can stuck the whole global economy including every aspect like Airlines, oil etc.
According to the experts, this epidemic is the biggest danger to the global economy since the 2008 financial crisis.
The question is how does this virus affect the global economy. The new Coronavirus emerged in Wuhan, China in December and already spreaded across 190 countries. Indeed, China is the most populous country in the world, the world’s second largest economy and leading trading Nation. The things that affect China, directly affect the whole world. Is this not sufficient to recognise the relationship between Coronavirus and the global economy?
Also the economic fallout from coronavirus threatens and affects for the Global growth.
According to The Economist, China’s economic growth slump to 45% in the first quarter of 2020. The coronavirus has severely impacted for manufacturing and travelling around the world. Global Oil demand has also dropped due to the epidemic.
According to the international air transportation Association (IATA), the Global airline industry is set to lose $29bn.
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Global economy is just one of the targets of COVID 19. The casualties due to the epidemic are not trivial. The whole world should be calm and should take necessary actions.
Both people and the political structure in every country should support to overcome the COVID 19 challenge.