Impact of COVID-19 on global economy:
Today, I'm going to represent the topic "impact of recent epidemic on the global economy". How bad
that epidemic's effect was! Recent Epidemic that was "COVID-19" (Coronavirus Disease that was started
to spread in 2019), it has been considered the most significant threat and the greatest global health
disaster and economy reducer because it compelled almost of the industries to shut down their
businesses. China--Wuhan City, Hubei Province, reported a new infection affecting its people in
December 2019. World Health Organization (WHO) gave the name "Coronavirus" to this infection. That
was spreading rapidly across the globe. Health, economic, and social challenges were being posed for
everyone. The outbreak of this virus was causing a global economic collapse. Most countries imposed
out-and-out/full or partial lockdown so that the spread of this virus could be slowed down. This
lockdown either slowed global economic activities or many companies reduced operations or shut
down. People began to lose their job as there was no need of workers after shutting down the business.
This pandemic affected Service providers, manufacturers. It also affected industries: agriculture industry,
the food industry, sports industry etc. It declines the education system also. The situation of world trade
started to deteriorate after this pandemic. (Mumtaz, 2023)
Today, I'm going to represent the topic "impact of recent epidemic on the global economy". How bad
that epidemic's effect was! Recent Epidemic that was "COVID-19" (Coronavirus Disease that was started
to spread in 2019), it has been considered the most significant threat and the greatest global health
disaster and economy reducer because it compelled almost of the industries to shut down their
businesses. China--Wuhan City, Hubei Province, reported a new infection affecting its people in
December 2019. World Health Organization (WHO) gave the name "Coronavirus" to this infection. That
was spreading rapidly across the globe. Health, economic, and social challenges were being posed for
everyone. The outbreak of this virus was causing a global economic collapse. Most countries imposed
out-and-out/full or partial lockdown so that the spread of this virus could be slowed down. This
lockdown either slowed global economic activities or many companies reduced operations or shut
down. People began to lose their job as there was no need of workers after shutting down the business.
This pandemic affected Service providers, manufacturers. It also affected industries: agriculture industry,
the food industry, sports industry etc. It declines the education system also. The situation of world trade
started to deteriorate after this pandemic. (Mumtaz, 2023)
