COVID-19 impact on Global economy: The most viral virus that has shaken the entire globe. This pandemic has resulted in hitting the global economy hard. It has spread so fast over the entire world in such a short span of time that at a present total of 110 nations are under its impact. At present 182,864 cases have been encountered and out of these total of 7,174 deaths have been registered.
This disease began its journey from its mainland China and has spread its root over the entire globe. This pandemic has led to shut down of the regular working due to its fear of easy spread.
What is COVID-19?
COVID-19 is a disease caused due to coronavirus. It grows in stinky garbage and humid environment. This virus was first formed by the genetic fusion of snake and bat. But it supposed to get destroyed in harsh i.e. high-temperature environment.
This virus when hits the human body initially begins to infect the throat leading to the sore throat followed by lung destruction, high fever, cold and difficulty in breathing. This disease is more feared because to date their no specific medication, no specific treatment to cure it.
How can one protect oneself?
As we know till date there is no proper medication to cure this but if you haven’t come into the trap of it you can prevent yourself from falling into one. As it is rightly said, “Prevention is better than cure“. Please go through the following mentioned points to get a protective shield for yourself:
- Avoid visiting crowded areas.
- Use a mask once you move out of the house.
- Since this virus rather floating in the air settles down on the ground or any place. It’s chances to move to our body increase through a hand, so frequent hand wash and use of sanitizer are suggested.
- In case you feel any of the symptoms mentioned above visit the nearby doctors because at the early stage every disease can be cured.
COVID-19 impact on Global economy
This is the topic which the heading reflects. It is the most considerable part of this pandemic. Due to Corona flights have been shut, schools and colleges have shut, working organizations have come to hold. And this all has affected the economy of every nation combining to affect the global economy.
Since this began from China it has hit very hard the economic conditions of China. The automobile sales of China have declined by 80%. Exports have declined by 17.2%. The GDP has fallen far below than assumed at the onset of COVID-19.
It’s not just China since this disease has traveled seas and reached every country by now. It has disturbed the economic rhythm of every nation and thereby a global decline has been observed. Organization of Economic Co-operation and Development (OECD) have predicted a decline of 0.5 percentage in the global GDP growth. Whereas other economic organizations alarm with a fall to zero if this pandemic is not brought to control.
This disease is hitting the economy by increasing the death rate of middle-aged people who could be the only earning member of their family. Likewise, if this death rate continues to create a mark every day then probably every state and every nation will face its ill effects. Not just in case of GDP but also in terms of capable human capital.