CORONAVIRUS EFFECTS ON ECONOMY (2020)

CoronaVirus Effects on Economy (2020) - Hello everyone, I hope that you're safe in your homes. We all know that the world is facing a very critical situation of a Coronavirus disease 2019. The global pandemic which is also known as Covid-19 affecting the whole world badly. If we take a look at facts and figures then we got that approx 30,00,000 peoples are getting affected by this virus and more then 2,00,000 peoples died in the whole world. This counting is increasing continuously. The most dangerous thing is that scientists hadn't found the vaccine for this virus. There is no treatment available for this virus. Only the immunity of the patient can beat this virus as per doctors handling coronavirus test. Not only the health sector facing the problem because of this virus, but most of the developed countries also facing the financial crisis due to this virus.

The Economy of most of the developed countries is being fallen continuously. If you wanted to know about how this virus is affecting the whole world then just stick to this article.

• America facing unemployment in their region

According to the expert, economist research is done to measure the unemployment rate in America. The report is exposed on 23rd April and in this report, it is clearly mentioned that in America around 4.4 million people are getting unemployed because of lockdown due to coronavirus USA which is spreading badly. This becomes a very critical situation for America. It took many years to overcome this crisis.

• China does not become a business hub

China is a well-known country in the whole world as a business hub but due to this virus. Various multinational companies are shifting their plant from China to other countries due to coronavirus symptoms which spreads rapidly. China is now doing a good business with other countries. China exposing the medical equipment in the whole world. The quality of that equipment is very bad and that why the countries who are still dealing with this problem are not happy with China. This will become the reason of a great loss in future times. China recovered from the corona virus effects and now he's trying to make its command on the share market of the rest of the countries. China is also very busy in dealing with Hong Kong and the poor quality of their equipment is the reason for the decreasing goodwill of China.

• India faces the loss of 4 billion daily

According to the finance report of RBI, India lost more the 4 billion rupees daily. This will tends to a big loss for India. Well, it is also said that the multinational companies who are shifting from China are placing their plant in India. According to the World Health Organization (WHO), India is leading the world. India has a huge level of the population but after coronavirus map, in this time there are only 26,000+ cases of COVID-19 were more than 8,000 people are recovered. As per coronavirus test ratio our recovery rate is very fast comparing to other countries.

• The growth rate of the second-largest economy

According to the economic times, a report comes and according to this report, the GDP of the second-largest economy is reduced to 2.5%. According to the many economists to overcome this it takes 50 years. This is a great crisis that affects the whole world. 

• Danish Government announces to the Unemployment crisis.

The Danish government announced that there is unemployment is more than 75%. The UK government also announces that more than 80% of a person who works on daily wages. Denmark also facing a financial crisis in their country. The main source of Denmark is the tax which the officials of government collected but due to the complete lockdown, the government is not taking the tax from the general public.

• Asia lost their progress of 60 years

A report also came with shows that Asia hosts his growth rate and to replace the financial condition of Asia. The whole continent will take 60 years to revive back from the Corona Virus effects.

• Japan and Thailand lost more than $1.5+ billion

Japan Lost more than $1.5 billion dollars in just for tourism revenue. The tourism of japan is not that famous in the whole world but still, Japan is facing that amount due to this global pandemic. Thailand also lost $1.15 billion dollars on only their tourism.

• The whole world loses more than 26 millions of job

WTO also gave the report and in this report, it is clearly said that more than 26 million people's are losing their jobs due to these lockdown measures. The report is shown to the general public.

Conclusions !!

This global pandemic is affecting the world very badly. In America, more than 9,60,000+ are affected by this virus, and more than 55,000 people will die only in America. Coronavirus effects becomes the reason for the recession in the whole world. Already our best doctors together are working globally to get the cure for the coronavirus treatment. I just want to say you that please stay in your homes and take care of your family. Its critical time for all over the world, lets pray for better future.

If your looking for more information on Coronavirus symtoms and treatments related queries please refer the coronavirus wiki. This will help you with more details about coronavirus effects and precautions to be taken during this tough times. We stand united and we will get through this.