Corona Virus Medical emergency has shut the world economical growth. World is now Fearing of Global Recession and Closing of business due to Lock down in major part of Globe. After lock down, major business needs more time to stabilize.
Let’s hope the corona virus will not be as bad as the Spanish flu that infected 200 million and killed 50 million in 1918-19 — more than all combat deaths in World War I.
Most analysts have focused, rightly, on the human tragedy. But the economic consequences may be as bad. The first-round effects are already clear. When China locked down Hubei province, the source of the virus, this disrupted global value chains in industrial production, especially electronics and pharma.
Shutdowns and lockdowns will wreck industries galore — airlines, road and rail transport, films, music, sports, advertising, media (which depend on advertising), shopkeepers and hawkers, tourism, and many more. If consumers cut consumption by no more than 5% to avoid infection, that will suffice for a world recession.
What should a individual do in this situation of Global lock down? Every Job Seeker should spend time to enhance their skill to sustain their job or a better chances in mega recession.