The world hopes to prevent the outbreak of Coronavirus from China, which has spread to 165 countries around the world. Contrary to the hope of stopping the infection, Corona appeared in one country after another, spreading the same funnel between the blood.
Initially, news spread about China, South Korea, Hong Kong, Singapore, Japan, and some other countries around China. And then, from Iran, Italy to Canada, and the United States, this dangerous virus spread.
In recent times, news of this spread across five continents of the world, especially India, Brazil, South Africa, and other countries has made this dreadful epidemic worldwide.
With the contagious form of human contamination, many countries around the world have either closed or canceled flights of vehicles, trains, and airplanes, both domestic and international.
School colleges have either closed down or started doing so. It may be easy to close school colleges in this way, but there is a big problem of doing public places of government offices, factories, hotels, hospitals, local markets and so on.
With the creation of such a state of commuting, people's travel abroad began to decline. Foreign employment also ceased.
International-level seminars and meetings were also halted. This has a big impact on the economy. There was a great problem in the lives and employment of people.
With the effects of every aspect of the economy on its part, the world is now in a state of trembling due to the slowdown, the slowdown and the threat of a declining global economy.
In this regard, Italy alone has canceled more than 20 percent of its air travel tickets to prevent the outbreak of the outbreak in Italy.
Others are indicated to do so. With the outbreak of this outbreak spreading and increasing in Italy in Europe, it has been reported that Italy is preparing to take or take and bring almost 60 million citizens of its country to Quarantine.
Germany's government is also assessing the tragedy that the infectious virus can infect in 70 percent of the population. Meanwhile, the US, Europe and Gulf countries, including India, are also working to stop all sorts of confusion and uncertainty over travel issues by issuing travel advisories.
In this situation, the import and export business has also experienced major difficulties. Mobile World Congress, the largest festival of the mobile phone business, has canceled the fear of this virus.
A similar situation has happened with the 'Game Developer Conference'. Google, on the other hand, canceled two of its major projects 'Cloud Next Event' and 'Developers Conference 2020' and now limited it to 'video conferencing'.
Chinese mobile company 'Xiaomi' has also recently made it clear that it will not launch a 'launch event'.
Fearing this epidemic, various technology companies in India have assured their employees of 'homework'. These companies include 'HCL Technologies' and 'TCS'.
Bipro and Cognizant have canceled their trips. Even 'Cognizant' has closed its office in Hyderabad for a while.
Similar news is coming from different parts of the world from the Twitter offices. Amazon and Flipkart have done the same.
Anand Mahindra, head of the Mahindra Group, has said - 'This crisis can completely change the way one works.' He wrote in the tweet that the crisis will pass. But it seems that it can 'reset' the world forever.
First, it will accelerate the practice of working from home. Second, most conferences will begin to be 'virtual and digital'. Third, meetings are now going to be less 'video calls'. Fourth, travel to the airplane will be shorter. Which will improve the environment as well.
It is hard to say that optimism will help improve the current environment. As a sample, the demand for hotels can be seen to have an impact on demand. Oyo, which operates a large business of hotel companies, has already discharged its 5,000 employees worldwide.
And where this epidemic is yet to be spread is not known. However, who produce and sell things such as masks and sanitizers are making good business.
Chemists point out that tens of thousands of people are buying sanitizers and masks. Demand for vitamin C and Paracetamol is also increasing rapidly.
Under these circumstances, companies that manufacture these products, namely a handful of pharmaceutical firms or chemical companies and mass-making industries, have also been advised to increase their investment.
Despite the deterioration of the market, the prices of these items have seen a huge increase. But news of the outbreak of the Coronavirus has come as a result of huge investment sinking and uprooting.
On the other hand, while the status of all other industries and businesses has been volatile, the fear of air travel remains the same as leaving the house. Therefore, from hotels, restaurants etc. to movie houses, business malls and shops in old markets, the business has been stagnating. And are going on.
In this situation, the worst-case scenario is for the companies running the factory. Because there is work to be done. Working people are also being protected from virus infection. This is not a less serious challenge. Why this challenge is exacerbated if imports have begun to stagnate.
This is not just a picture of one country today but a picture of a country around the world. After all, people have stopped coming and going. Why aren't they even selling?
Today, not only the production but also the demand has been hit. In such a situation, it is difficult for Nepal's import-oriented economy to be effected automatically and the situation to deteriorate.
What is not yet known is how long the outbreak of the virus will last or not. The World Bank estimates that the global GDP, even if this epidemic is stopped immediately. At least half of the GDP will be affected.
But if this epidemic does not stop, this decline in GDP could rise to five percent. This means that there will be a massive shock of nearly US$ 4800 million.
Not only does this virus plague the economy directly, but it can also impede holidays, festivals, travel and sporting events, etc., so it can only shut down businesses and weaken the economy.
Therefore, to cope with the worsening economy due to the rising effects of this epidemic, various countries, especially European countries Italy, Germany, Britain, and other countries have already announced billions of dollars in relief funds.
China, which is one of the most affected in the world, is making special preparations for it. And they are exploring different ways to handle a falling economy.
There may not be any doubt that the economically affected countries will be able to rise again and move on the right path when it comes to timely alert. But it requires immediate readiness, the availability of appropriate measures and its continuity.
Source: khabarhub.com
