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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