Economy vs Covid-19

[Erik4150]

The world is not ready for a global economic crisis. That is why every country is trying to control the pandemic. An out of control pandemic means disaster for the economy. My country's government has been supporting small business owners in an effort to curtail the economic crisis.

 

[Mujahid12]

This Covid-19 pandemic certainly hit the world economy very hard ... even the power countries had to overcome many obstacles in terms of the economy ... The question is, is the world prepared to face another economic recession?

Absolutely covid-19 has made an economic impact all over the world and the economy of many countries has fallen from the sky to the ground due to this many countries poverty increase and unemployment also inscrease as well.

 

[Asad Ali]

Let me say honestly, Pakistan's economy is improving during this pandemic and i know its hard to survive but Pakistan have managed very well with this pandemic covid 19.

 

[Damismiling]

Covid really did knock down the world economy and hearing the second wave now baffles me a lot, for the preparedness towards it I doubt it, but some intelligent sectors are making necessary adjustments, like embracing virtual more than physical

 

[Sincerem]

Covid19 have really posed insignificant threat to lives and property. Causing deaths, and untimely halting of businesses. Affecting every countries economic system, causing food shortages hunger etc. My country is already facing it's second recession time, I wonder when things will ever come normal on earth.

 

[Pattertwig21]

This Covid-19 pandemic certainly hit the world economy very hard ... even the power countries had to overcome many obstacles in terms of the economy ... The question is, is the world prepared to face another economic recession?

No. It is undergoing one as it is, and in our country, we are having hard time barely keeping the economy alive. Thankfully some industries is still going, but there are millions of people in our country that has been living on the barest minimum because of the economic recession now.

 

[Khizar iqbal]

The Corona virus has wreaked havoc on the world economy. The Corona virus has wreaked havoc around the world. Many businesses have been shut down because of this. Every market in the world is in recession.Where the coronavirus caused loss of life, there was also financial loss. People became unemployed. Unemployment increased so much that people started starving for two meals a day.The stock market is down

 

[Tariq Nazir]

Fact is that many countries economy have been affected by the covid-19 pandemic and will surely undergo recession. This pandemic caught everyone by surprise and nobody expected it to last this long, hence I don't think anybody was prepared for what happened, but most countries will bounce back at various times.

 

[Neeta313]

Yeah with the covid-19 pandemic that hit most countries, it gave the people heads up, I'm sure there are people that have already come up with strategies to manage such a situation, so should another case arise, I believe they will be able to come up with something to curb the situation so that it does not affect economic growth.

 

[Trexxxy]

Honestly, l don't think the world can handle another economic recession seeing the damage the pandemic caused. If the world were to face another one, it would cripple world economic powers and many countries of the world would crumble.

 

[Mahnoor]

COVID-19 has caused an economic shock three times worse than the 2008 financial crisis.
Europe and emerging markets have been hit hard economically, China has escaped a recession.
But the worst could be behind us, and a greener economy could emerge after the pandemic, according to the Chief Economist at IHS Markit.

 

[Frank]

This Covid-19 pandemic certainly hit the world economy very hard ... even the power countries had to overcome many obstacles in terms of the economy ... The question is, is the world prepared to face another economic recession?

If you observed or read history of what caused the last recession, you will see that it was as a result of money not being in many hands. This is different now as we have many earning opportunities both offline and online. So, I doubt that there will be any economic recession coming soon.

 

[Chizfab]

It is glaring even to blind eyes that since the emergence of this pandemic, the economy is still trying so hard to find it's feet's. A lot of business has folded up, most especially the small and medium businesses that have little financial support and span to compete in the midst of a pandemic that shut down the normal operation of people and their businesses.

 

[Alexandoy]

Our economy is still struggling until now and there is no sight of rest from the pandemic era even if the vaccine is coming already. About 60% of industries were greatly affected and now 40% of businesses are suffering, some have closed shop already. What some businesses can do is to be creative in their operation like availing of the delivery system.

 

[Muhammad hussain]

Yes, you are right. The coronavirus has caused a lot of damage to the economies of all countries.No country is spared from this loss. Whether it is a small country or a big country, the economies of big tycoon countries like USA, UK, China and other countries have also been destroyed.The world has been badly damaged by the virus and it will take another year for any country to get back on its feet.

 

[Irfanali]

Lending to businesses can be difficult, increasing risk can increase borrowing costs, and bankruptcy and defaults can lead to financial crises in many countries. Under these negative scenarios, global growth could slow to about 8% in 2020.

 

[kahsifnadeem]

This Covid-19 pandemic certainly hit the world economy very hard ... even the power countries had to overcome many obstacles in terms of the economy ... The question is, is the world prepared to face another economic recession?

No one in this world can consciously lost their economy so pandemics affected on every economy and some countries are some societies have enough potential to recover their deficiencies after the pandemic

 

[alibilal5555]

The June 2020 Global Economic Prospects describes both the immediate and near-term outlook for the impact of the pandemic and the long-term damage it has dealt to prospects for growth. The baseline forecast envisions a 5.2 percent contraction in global GDP in 2020, using market exchange rate weights—the deepest global recession in decades, despite the extraordinary efforts of governments to counter the downturn with fiscal and monetary policy support. Over the longer horizon, the deep recessions triggered by the pandemic are expected to leave lasting scars through lower investment, an erosion of human capital through lost work and schooling, and fragmentation of global trade and supply linkages.

 

[QalabDogar1906]

This Covid-19 pandemic certainly hit the world economy very hard ... even the power countries had to overcome many obstacles in terms of the economy ... The question is, is the world prepared to face another economic recession?

Nowadays, due to covid-19 the economy of every country is damage badly. Because people can go out from home for business or work due to covid-19.
They stay and home and do not work. That's why economy is damage

 

[Blessedsam60]

@GeneBiz This is a serious discussion as last year's experience was tough and so difficult to scale through. Though here we are now managing covid-19 and trying back to build the economy once more. Here in Nigeria, things was so harsh but there was still light at the end of the tunnel.