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Maxx Bart

How Covid-19 Affects Our Economy

COVID-19 is not only a global pandemic and public health crisis; it has also seriously impacted the global economy and financial markets. Large declines in wages, a increase in unemployment, and disturbances in the transportation, utility, and manufacturing sectors are among the effects of the disease prevention initiatives that have been introduced in several countries. It has become apparent that the threats of rapid COVID-19 spread have been underestimated by most governments in the world and have been largely reactive in their crisis response. Proactive international efforts are needed not only to save lives but also to maintain economic growth, as epidemic outbreaks are not likely to vanish in the immediate future.