THE EFFECT OF CORONAVIRUS ON THE GLOBAL ECONOMY [1]

By Dr. Frank Musmar

EXECUTIVE SUMMARY: The 2020 outbreak of the novel coronavirus (COVID-19)
will go down in history for its massive impact on the global economy and on
public health, both physical and psychological. At some point, life will
get back to normal, but it will not be the same as it was before. People
have been panic buying over the past two weeks as they wake up to how
unprepared they are for a crisis. As a result, many are rethinking their
spending habits and what necessities they should have on hand. Some of
these temporary adaptations will become permanent as people discover that
they prefer them to old ways of doing business.

China is being severely affected by the outbreak of the devastating
coronavirus (COVID-19). The Chinese manufacturing and services sectors
plunged to record lows in February, Chinese automobile sales sank a record
80%, and Chinese exports fell 17.2% in January and February. Official data
confirm a widespread slowdown in China's economic activity, a trend that is
also visible through informal barometers like low pollution levels and
depressed shipping traffic. The country's economic recovery will be
difficult as demand from other countries continues to drop while they
attempt to cope with the spread of the virus within their own borders.

CONTINUE READING [1]

[2]
Copyright © 2020. ACT for America, All rights reserved.

Unsubscribe [3]  | Support ACT [2]



Links:
------
[1] [link removed]
[2] [link removed]
[3] [link removed]