Leaders around the world including Jacinda Ardern, of New Zealand, are now saying that “COVID-19 is unlike anything that we’ve had to experience before”
In a video message on her Facebook account she urged people to buy local goods if they are planning to shop.
So far the novel coronavirus has became a threat for the global economy since after it has started in December 2019 in China. Initially the uncertainty caused a massive increase in demand of goods but shortly the fear of outbreak of the virus not only restricted the flow of the demand but also force shutdown the businesses across the richest countries of the world, disruption supply chains.
China is one of the world’s emerging economy, one of the vital members of BRICS countries. Although the country was under massive criticism since the news disclosed about the China’s Muslim Camps. After hitting China the worst affected country by coronavirus is Italy, the country was lockdown on March 9 and the rules became strict on March 11. China has overcome the disease crisis, since there was no new case recorder in the country yesterday but the world is still under grave disorder.
The already affected global economy, last year, because of the tensions between the U.S. and China trade relations, is now on a new verge of recession in the wake of COVID-19.
The global virus is now affecting the global economy harshly.
