Ever since Covid-19 pandemic has been affected country’s economic preparedness to fight the pandemic, how their economies could be impacted and also how likely and quickly they can recover. Going forward, supply chains will be slower than many domestic sectors to recover because they are more likely to encounter bottlenecks as different countries remove travel and business restrictions at different rates.
COVID-19 is a supply shock; stimulus will cushion business activity but spending and rate cuts will be slow to aid complex supply chains. Global cooperation in areas such as data sharing will be key to preparations, but fear and weak GDP growth may prompt more nationalism. Coronavirus (COVID-19) slows down the economy, the consumption falls, and most of the industries face a recession. Self-distancing and lockdowns will certainly have an impact on employment, especially in economies with a large chink of non-permanent workers.
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