Design a site like this with
Get started

GLOBAL ECONOMY AT THE TIME OF COVID 19The world is suffering from Coronavirus from last 2 years, unfortunately this time was going to the greatest time for the ASIA. According to a report of 2018 and statements of many other master economist said that “ upcoming yeas are going to be the golden years for the Asian countries ”. Day-by-Day the world is transferring from west to east India, china, japan, south Korea, Singapore and UAE all are becoming the tech and business manufacturing hubs of the world..DECREASE IN MONEY SUPPLYGlobal supply and movement of money in various economy was on the bottom, powerful countries like USA, CANADA, CHINA, INDIA, FRANCE, ITALY and GERMANY suffered a lot due to the inflation, bank rates were high, prices of products which were important in the time of Covid like mask, sanitizers, medicines like paracetamol went on high in USA. Money supply reduce always had a bad impact on the all over health of the economy.. No new investments. High prices of commodities. Less production. Less capita income.UNEMPLOYMENTUnemployment is an another problem which is faced by many economics like India the most, china in the beginning of covid. In economics it’s simple to find out the reason of economic recession as in the covid time work places were closed down which causes less production because of less demand, less demand means no spending’s, less spending’s leads to less money supply. The owners were not get the accepted demand, their stock of production waste on, the storing cost climbed like a rocket, increase in cost of product or in the value chain means it’s not a fortune writer for workers and employee. So, it lead to cut down in salary and many worker were fired..LESS FDI’s AND FII’sFDI’s ( foreign direct investments ) and FII’s ( foreign individual investments ) two of them are the major pillar to maintain a stable economy. But, in the time of covid nation’s like south Africa, Cambodia, UAE, japan, south Korea and including India lose their FII’s and FDI’s market. Many big manufacturing companies like apple, tesla and amazon were very much interested to move in Indian market in compare to Chinese market, as India and china both are labour intensive, still had a benefit that India had cheap labour than china too. Infrastructure development was nearly stop. Covid create a immense pressure on governments to restart the functioning of economics..IMPACT ON MOM AND POP SHOPSFrom last 2 years, jeff Bezos had earn more than 10 billion dollars only from the Indian market, imagine how much he had earn from ROW ( rest of the world ). It quite amazing right, it happens because of covid 19. All of the mom and pop shops were closed due to the pandemic, it was a great opportunity for the online business and online groceries that’s what amazon was doing from last 24 years..IMAPCT ON TEEN’S EDUCATIONEducation is very important we all know, but, covid demolish the educational institutions policies and ideas which they were going to implement in their educational structure. I remembered that in the month of April 2020, government of India announced that schools and other educational institutions are going to set down till the end of covid 19. Lose of education is a humongous lose of students. Online class is a good substitute, but not the most benefice. Students are not taking their studies seriously, MCQ exams become a good friend and online classes become a way of cheating. We need to think upon it, “ FUTURE OF NATION LIES IN THE HAND OF TEEN’S ”.. IT INDUSTRYThe dependence of the it sector on many of the other sectors like manufacturing, retail, hospitality, communication etc. has resulted in major impacts on purchasing ability and investing patters on it services. This has impacted the requirement of additional work-force and inflow of revenue in this sector..WAYS TO IMPROVE THIS CONDITION. Maintain a proper and healthy money supply through government spending on infrastructural development.. Government should help small mom and pop shop’s owner to collaborate with big dealers and manufacturer to increase their sell.. For the unemployment, work from work is great for the private workers and for public workers it should be alternative system.. for the poverty, specific fund and basic medical facility should be provided them at free of cost.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: