Pandemics are enormous threats to the world that impact all aspects of our lives, especially the global economy.
The COVID-19 pandemic, has had a wide range of effects on the world economy. The pandemic has significantly disrupted the supply and demand chain in addition to increasing health costs and reducing the labour force. Manufacturers have been forced to layoff some of their employees or postpone their business operations in order to avoid further losses. After the pandemic began, there was a sharp drop in oil consumption that was unheard of in the previous past, due to the closure of factories and businesses and decreased travel rates.
It seems, recession is inevitable for a while, though it may not be as bad as it's in 2008.
But, India is putting a brave face and projecting that our economy is sound and there is no impact. But, if we see, there is a big reduction in real estate business, banking sector is in doldrums even prior to the Covid in India because of scams and ill-management.
As you both rightly mentioned in one of your posts, the investors are the losers, because of this global economy meltdown!
UK is reeling under Energy crisis, 3rd world countries are sinking under the burden of rising prices and limited resources. See Sri Lanka. And our neighboring countries are reeling under political turmoils.
Better to tighten your fist and keep your money under the mattress!!
https://au.finance.yahoo.com/news/chinas-trade-unexpectedly-shrinks-covid-031148605.html
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