A Study on The Expected Effect of Covid 19 on World Economy

Amar Verma Dr. Parikshit Singh
Page No. : 42-55

ABSTRACT

Dense populations and large-scale population movement contribute to cosmopolitanization and globalisation by making the economy more interconnected but also speeding up the spread of the disease. This has never had such a massive effect. Indians economy has been hit hard by the COVID-19 epidemic, and the virus is now making its way throughout the world. There is a lot of doubt about how the sickness will progress or what kind of financial toll it will take. Controlling social distance and isolation, which is the major preventative approach because to the diseases high infectivity, high fatality, and incubation time, renders many economic activities difficult. The 2020 COVID-19 pandemic might cause a 3% drop in global GDP, a 4% drop in developing country GDP on average but more than 6.5% in some, and a 13% drop in world commercial trade. The effects of novel coronaviruses on global GDP, goods commerce (using India as an example with other nations), and numerous industries are examined, and potential solutions are proposed.


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