Coronavirus Impact On Economy
TAGS: What is coronavirus

Fear about the novel coronavirus are increasing. The world is in a lockdown- state right now. Questions arising as “How Will Coronavirus Impact On Economy” and how lethal it could be? It all started in a city of China- Wuhan. According to media, the earliest case reported on Nov 17. The COVID-19 has affected 183 countries globally; Including Spain, Italy, USA and Iran. More than 3.48M are diagnosed with the virus. The death tolls climb as more people are getting infected. Currently, over 246K deaths have been reported.

What causes the outbreak?

The “wet market” in Wuhan, is catching the blame as the actual source of current coronavirus outbreak that cause the global epidemic. Many of the people who got infected either work or visited Huanan seafood wholesale market, frequently. Huanan market is a central hub for selling wild animals (living or newly slaughter), in China.
Studies shows that bats are the original host of coronavirus. Scientist claim that the new coronavirus may have originated from bats and then transmitted to humans via other dairy species. But one analysis in Jan 24, claim that the first person who get infected by the virus didn’t have any link with the ‘wet market’. Experts are trying to find the epidemic back to its root.

What is Coronavirus?

Coronaviruses are a group of virus that range from the usual cold to Middle East Respiratory Syndrome coronavirus (MERS) and Severe Acute Respiratory Syndrome (SARS). Most of the coronaviruses are circulating in animals but some of these viruses has the capability of transferring between animals and human- also referred to as spillover infection or pathogen spillover.

Coronavirus Impact On Economy

How much you should worry

Although the epidemic is traveling fast. The death rate is pretty low. The mortality rate estimated by WHO is 3.4 percent. Most coronavirus patients recover, within two weeks without getting any medical assistance due to the defense mechanism of their immune system.
Older people having weak immune system or diabetes are at high risk of getting severe affects. Nonetheless, the morality rate is still multiple times higher than seasonal flu.

How will Coronavirus Impact On Economy?

Seen as a medical issue only but pandemics could bring the world economy in a standstill. China has world’s second-largest economy and a fall-out in its economy can threaten global growth. Reports say about 5 million Chinese already lost their jobs and faced lowest growth on record. For instance, Individual who work on international trade business are directly impacted by the epidemic. Event-organizers are drastically affected by event cancellation around the globe. This includes, vendors, hotels, transportation service.
Countries like Hong Kong are giving cash payout worth 10,000 Hong Kong dollars to its residents, to support their economy amid corona virus breakdown. The alarming situation can also lead to slump in US states, Japan and EU.
Currently, Italy is facing decline in travel tourism that is directly disrupting its economic growth. Moreover, personal finance concerns related to the spread of virus are rising. The economic risks of COVID-19 epidemic are clear. If the virus continuing persist and spread, countries would suffer deep and prolonged economic disruption for sure. containment measures and policy making is required to endure the mounting stress.

How to protect yourself

World Health Organization(WHO) declared COVID-19 a global pandemic disease that has spread worldwide affecting a large number of people. Moreover, the virus is 10 times more lethal than the usual flu. Thus it is important to protect yourself from the outbreak and practice basic precautions.

Coronavirus Impact On Economy
  • Basic hand hygiene; Washing your hand with soap or sanitizer for at least 20 sec.
  • Repertory hygiene; When sneezing, sneeze into your elbow rather than hand.
  • Protection against potent animal source; As the virus is zoonotic, avoid unnecessary, unprotected content with any live animal and wash your hand thoroughly after contacting any.
  • Cook meet thoroughly; Before consuming, make sure that your meat is cooked thoroughly.
  • Covering mouth; As the virus can spread through droplets, cover your nose and mouth whenever you sneeze or cough.
  • Avoid public places; Coronavirus can easily transfer through person to person, avoid close content (6 feet distance) with anyone showing symptoms.
  • Avoid touching; avoid touching your face if you haven’t clean your hands.
  • Cleaning; disinfect and clean surfaces you touch on daily bases.

How to deal with the stress of outbreak

Now you know all about the virus like what is coronavirus. Non-stop news about the pandemic can lead to stress. Individuals who are old or have specific mental health condition or chronic disease will worry about the pandemic excessively. As the virus possess higher risk for them. Including doctors and first responders directly involved in the scenario.

Coronavirus Impact On Economy
  • Stress include fear and worry about one’s own health and health of their loved ones. Worrying too much can worsens your chronic health and affect your sleeping patterns.
  • Taking care of you, your family and friends will help you to cope up with the mental effect of pandemic.
  • It’s important to keep yourself updated with current condition, but avoid excessively watching, reading or listening to the new that make you feel anxious.
  • Seek information only for specific times.
  • Take break from social media as sometime false news keep circulating in social media.
  • Take deep breaths and exercise regularly.
  • Stretch and mediate, try to eat a well-balanced diet.
  • Get proper sleep and avoid drugs, alcohol etc.

Leave a Reply

Your email address will not be published. Required fields are marked *