CORONAVIRUS (COVID-19) Effect / Impact On India And World Economy

Origin of coronavirus(COVID-19)

According to WHO coronavirus (COVID-19), the disease is an infectious disease newly discovered. Their no avoidance of patient zero from which country but this disease first start mass destruction in Wuhuan city of China. According to the government of China, the patient-zero is from the USA and, USA claim that it is from China and the reason is the adventurous eating habit of Chinese people.

With this virus, the game of allegations started between the two countries. But till now there is no proven avoidance both countries have their theory. USA move one step forward and started linking coronavirus with china by calling it Wuhuanvirus or Chinesevirus in an open media statement by the president of the USA and their high-profile minister. But till now WHO do not give a statement on it.

Coronavirus Effect or Impact

From this coronavirus people were thousand people daying in a single day and day by day the number of deaths is increasing In the date of March 27 total deaths are 24,863 and infected cases are 549,147 (the data according to also 128,623 person were recovered. This is a huge impact and in effect the world economy structure

Effect on the Airlines sector

Empty Airport
Image by Jan Vašek from Pixabay

According to The Economic Times the effect on airlines globally set to lose in travel passenger revenues of up to $113 billion(Statement by IATA) if the situation continues. But the effect which is expected is now getting bigger because of sanction almost all big and small country seal their border and block their airspace. In the same time where the passenger was avoiding to travel and the country also band new traveller almost all planes are in-ground or stationed in the airport. This shows the corona effect on airlines.

Effect on the manufacturing sector

According to BBC the corona effect in the manufacturing sector is also very high in China the Purchasing Manager’s Index (PMI) dropped from 50 to 35.5 in January.USA market is also going through a financial crisis where they suffer in 2008. Demand also getting low and also in china 300 million workers are still not back to work because of quarantine rule. According to Bloomberg Economics, Chinese factories were operating at 60% to 70% of capacity this week because of the coronavirus effect.

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