Corona virus hasn't just killed thousands of people around the world also have erupted a KSA-Russia oil war, stock market downfall, a record-breaking debt which is far more than the 2008 economic crisis's debt and many more. Tsunami is coming for new start-up companies because of the drying of the supply chain mainly. Because China's problem is everybody's problem now as it's the world's biggest exporter and row material supplier. Supply has lessened and production also has gone down. Exports also have come to an end as approximately the whole of Europe is under lock down process.
Old companies may survive through this phenomena but it'll be nearly impossible for new companies because most of them got to pay interest to those banks from where they took loans for their business. Now banks are already facing a liquidity crisis worldwide in two ways. Firstly their loan client can't pay off their interest on time and secondly, governments around the globe are doing more and more debts because of emergency need of a huge amount of money.
Restaurants, train, buses,airlines sectors are going to suffer more. According to the NYT, already the main trade group for airlines in USA suggested a $50 bn bailout package.
Economists aren't astrologers but their predictions are really going to come true this time because after defending death, doctors will handover Corona to economists. Of course, Corona isn't going to hit every economy equally because different phenomena existing. A couple of days ago I thought Corona won't be able to harm those countries who got highly developed online job market infrastructure. But this is not actually going to happen because online market and jobs indirectly depend on real-life conducts of people which is not possible right now. This is why top economies like the USA, UK & Japan's stock market have fallen down.
Those economies are going to burn down if Corona breaks out there as it did in Italy whose couldn't diversified their export products or import. Whatever everybody should keep in mind that corona situation is more vulnerable than the financial crisis that took place 12 years ago because Corona is a very sudden attack.
Everybody should also keep in mind that every country isn't the USA that their government will provide $1000 USD per citizen during this global emergency and a huge number of people are going to lose their jobs.
®Written by codegRay
