Corona Crisis: This is The Worst Round in 90-Year History
Hello Folks Today we are going to talk about covid-19 pandemic affects on business and economy. Everyone are in fear because of this corona virus pandemic But this is not only dangerous for lives but it is dangerous for economy as well. After World War II, the countries of the world will drown in the biggest debt. Countries of the world trying to save poor, middle class and industries and offering relief packages, Debt Waiver , Waiver and Loan Guarantee and many important things. And because of this They will be burdened. And world will Sink into highest debt after world war 2. And this is the crisis like world war 2 and may be it will be more critical than that. Because Who knows the future.
And these are not my words but IMF told this already. The maximum weight will remain on the biggest countries and you can include japan, china, India, united states, UAE and Europe.The global growth rate may fall to 3.3 percent in 2020-21 from -3 percent. America's debt has reached 17 trillion dollars Which is high. Here you can see the relief of the countries.
Relief :
US $ 2812 billion
Japan 1100 billion dollars
Germany $ 825 billion
Britain 639 billion dollars
France 380 billion dollars
Spain 330 billion dollars
China $ 270 billion
Italy $ 73.5 billion
India 30 billion dollars
Before this economy is crashed badly in 1940 Decade. And right now Industries like restaurant, movies, clothing, tech, Insurance, Sports & Entertainment, Hyperlocal Marketplaces, Travel & Tourism, Retail & eCommerce and Fintech are mostly affected. There is no vaccine available for this bad disease everyone is afraid. Many experts said that if temperature will increase, we can see the reduction in the new cases. But it has proven wrong because new cases are rapidly increasing even in high temperature. So that mean we need to lockdown ourselves till the 15 to 18 months? Because Vaccine Will take times to come and it is almost 18 months.
Now just think about poor people of the world. Before corona they will die from hunger. I am not scaring you but we also need to see this point of view. So we can plan for future. Help the poor people. It is much important for all of us. If you thinking that new cases will reduce, lockdown open. Then you need to understand that it can spread again after the lockdown will open. So only vaccine is the way. Till then we will suffer.
Recent update has come from the market which is gold and oil price has crashed. So it has done because of covid-19. Now i have to say something to you all guys. Instead of just taking a rest, Try to learn new skills and develop yourself. So along with this you can do many things. Previous crisis has made many new startups and many of them are very successful now. So that's it. If you really enjoyed this article Please share it.
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the key is to adapt to the changes and develop new skills and / or improve those that already exist, because what comes only will allow the fittest or those who receive the most help to survive.
100% agree
I agree, releasing the lockdown early is potentially very dangerous. Although making sense of data is not easy, there is so much discrepancy between different countries that it is difficult to get a clear picture.
It is a great time to learn something new when we have more spare time and we are limited in where we can go. I have been learning sign language, I have no immediate use for it but you never know when it may become useful.
Well said.
This is also true But let's see. thank you for your opinion. ♥
The rate at which things seem to fall apart is really scary, but we just need to hold high our heads through all this.
True
One day at the time, make a plan, and find the opportunity.
Agree ☺