Since the end of last year, humanity began an unfortunate passage through one of the greatest catastrophes in its history, you may ask yourself, why do I dare to say this? The answer is based on the fact that this scourge, which is currently affecting approximately 181 countries in the world according to data provided on 04/03/2020 by the website:
en.statistica.com, affects 1,196,553 infected people without distinction of social class, race, creed, political tendency or geographical location, according to information taken on 04/04/2020 at 20:13 Hrs (ARG) according to the website www.arcgis.com.
On the other hand, the advisers of the governors of the diverse countries of the world, apply policies of isolation to the population, as the main way to minimize the propagation of the virus; but this measure already is causing a strong fall of the world-wide economy and to be maintained by but of 8 weeks can cause a deep recession.
However, the consequences on the economy and society are inevitable, in fact, already the UN Department of Economic and Social Affairs in Briefing, No. 136, World Economic Situation And Prospects: April 2020 (published last April 1, 2020), showed very worrying figures on the impact of this pandemic on the world economy, such as:
In the worst-case scenario, the world economy could contract by 0.9 per cent in 2020 (Figure 1).
Figure 1 below shows a comparison of the two estimated scenarios of the probable fall of the economy (Worst Scenario- Blue and Worst Scenario- Red) and visualizes the sharp fall of the world economy in the month of March.
The economic consequences come as a result of the measure adopted by many countries in the world, establishing the of distancing people and even the application of quarantine periods of 8 weeks, which can be extended depending on the results obtained once the " peak "of the pandemic, that is, the moment of greatest contagion by the incubation periods of the virus.
For this reason, there has been a decline in the economy worldwide; this keeps the rulers of the affected countries alert and there is even talk of a progressive lifting of quarantine in some countries, with the hope of gradually reactivating the productive apparatus and preventing further unemployment rates from closing of small and medium-sized companies, as well as the paralysis of the flow of money and the collapse of the markets.
In this sense, Hong Kong as a result of an increase in the appearance of Covid-19 cases last month and to avoid a rebound of the pandemic, once the curve of virus contagion has been controlled or leveled and it has begun to To reactivate the economy, it was decided to intensify some measures such as the prohibition of the entry of non-residents, the application of criminal and impunity measures, as well as the use of locator bracelets to monitor the wearer 24 hours a day, through an application on their mobile phone.
Given the above, I leave you with a question: Are the measures adopted by governments sufficient to avoid the consequences of COVID-19 on the world economy?
There have been many situations that humanity has gone through that have produced economic contractions and even market collapses, we have gone through economic crises, world wars, terrorist attacks and even other pandemics, but how is this different from the previous ones?
Firstly, it is borderless because it spread throughout the world and in a very short time, paralyzing societies that we never imagined, large cities are complete, we do not see collapsed buildings like when it is a war but if we see deserted streets, a reflection of movie theater.
The answer is not so simple despite the fact that we have tired of reading about it, experts and scholars have carried out analyzes and continue to do so, but the unpredictability of this virus is that it is so highly contagious that until a few hours ago it became public. in the United States that the use of masks should be for everyone because the virus is in the air and we are even awaiting the pronouncement of the corresponding entities worldwide.
If so, the situation for the countries would be further complicated, and a second wave of the pandemic could appear once the quarantines are over and economic activities begin to reactivate.
Finally, I leave you with a reflection:
"Humanity always feared wars and attacks by weapons, but an invisible enemy appeared that we do not yet have weapons to eliminate it"
Note:
It was published on my Steemit blog
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