JOIN USCoronavirus: Global economy slumps amid COVID-19 outbreak
The Coronavirus (COVID-19) pandemic, which has affected more than 182 countries and over 6 lakh people worldwide by now, has forced many countries to go in for partial or complete lockdowns, thereby severely affecting economic activity across the globe.
Currently, the entire world is fighting a war against a silent, invisible enemy, the coronavirus SARS-CoV2 that has caused the Covid-19 pandemic. It does not respect national boundaries. There is no vaccine or known cure for this ailment currently. Given the highly contagious nature of the disease (relative to the usual seasonal flu), policymakers all over the world are emphasizing the urgent need to ‘flatten the curve’ of its spread to prevent healthcare systems from being overwhelmed by the surge in numbers requiring critical care at any given point in time. The cases of America, Italy, China, Spain and Iran show how quickly the situation may spiral out of control, unless adequate advance steps are taken.