Monday, 24 February 2020

The Impacts of Coronavirus in the World


The Impacts of Coronavirus around the Globe

China has become a global market and China can literarily produce anything that we think about. If you need cheap products, China is a better place for you to trade. It will be really difficult to find an alternative to china. You may not get any country that does not trade with China. Countries dependent on biggest trading partner China are likely to experience a shock in the near future.

Since China is affected by the coronavirus, the growth of China has now become at slowest in 3 decades. Moreover, many countries are also affected economically, socially and politically as big supply chains are being disrupted in the world. Here are the examples.

Economic Impacts
The recent outbreak of coronavirus hampers the construction of China-backed mega infrastructure projects across the world. Human resources including Chinese engineers and labourers of these projects have been banned from returning.

# Countries around the world cannot continue business with china as a result price of the essential products gets high.

# The price of oil decreases because some factories in China are temporarily shut and cannot run due to the blockage, restrictions and labours shortage.

# Business conferences and international exhibition have been postponed.

# Hotel and tourism business have been severely affected in china as people don’t visit their places and growing restriction in crowded places. Countries miss earnings from the spending of Chinese visitors.

For example, the revenue of Apple is expected to be lower as worldwide iPhone supply is ‘temporarily constrained’ because of coronavirus.
James Bond tour of China has also been postponed due to the epidemic.
Airlines like Qantas and Air France-KLM face losses because they have suspended flights connected with china.
Despite no cases of coronavirus in New York, Chinese restaurant in New York's Chinatown has zero customers.

Social Impacts
# People in China and it's neighbouring countries are panicked by the outbreak of a new coronavirus, COVID-19.

# Prejudice & racism: The ignorance and misinformation on virus invokes racism against ethnic Chinese or anyone in the US who looks Chinese.

# Education: student mobility has become limited in china. Chinese students cannot travel to foreign countries for higher education.

# Health: Huge loss has occurred due to the health and well-being concern.

Political Impacts
The Chinese government is now at a pressure politically and internationally. Since the authority could not take steps at the right time, Chinese people also showed anger to their government.



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