Change Of World Economy Due To CoronaVirus

All of it started in the Wuhan district of China. The epicenter of Coronavirus Disease. It has already affected 7,24 566 people globally. China announced one of the most important precautions which will eventually lead to a slower economic breakdown. China suggested confinement as a precaution to stop the outbreak of the Coronavirus epidemic.

China took strict measures to contain the virus and succeed. This confinement helped save the industrial areas of china like Beijing and Shanghai. Their industrial growth have slowed down drastically. Now the virus has spread almost to every powerful country in the world. This has led to confinement of some of the industrial giants like U.S, U.K, Japan, Germany, India and others.

Confinement is the best way to contain the virus. China made real efforts and succeeded. This resulted in lockdown of industries and everything. Social distancing, isolation, reduction of mobility internationally, nationally or any inter-local movements, which resulted in a devastated economy. This restricted mobility also disturbed the supply and demand among various countries.

Protect yourself from CoronaVirus
Video Credit: WHO

The Change Of World Economy Starts Here

China experienced this outbreak way before the world did. Now that the world is suffering from the outbreak China is slowly reviving from the shock. Chinese officials and industrials are strictly concentrating in making coronavirus equipment like gloves, masks, personal protection items and even ventilators.

The world witnessed the invention of Coronavirus test kits. China is making progress in providing these test kits to different countries at this time of crisis. Hundreds of companies which includes licensed and non-licensed, are making these test kits and trying to meet the global demand.

Test kits of coronavirus

As the major industrial cities in China did not affect much they can bounce back to production real quick. Almost 9 thousand new manufacturers are working to meet the demands of face masks every day. China has already crossed 116 million daily production just by producing masks. Dawn Polymer has 40% share in the chinese economy. Their value has increased to 417% since january just by producing face masks. Their value increased to 1.9 million in just three months.

China has also adapted a strategy of taking over the world economy by buying out distressed assets. China is taking over Australian business which is a serious sign of shift in power. The slow but steep shift of economic power reflected when a Chinese company Alibaba founded by Jack Ma a billionaire from China posted a tweet about Chinese test kits and masks being delivered to the U.S. China is not leaving any opportunity to become the world’s savior.

JackMa tweet

The Trump Government is facing serious criticism regarding his inefficient handling of the situation that led to this vulnerable state in the U.S. Now the U.S is leading the coronavirus outbreak with 1,42,736 affected cases which is even worst than China itself.

Chinese government is making sure that business starts without any delay. Foreign funded companies have also resumed operations in china which includes companies like BMW and others. In the coming months China will be back on track while the U.S is still running minimum 8 weeks back as compared to China’s progress in fighting COVID-19.

The world is being skeptical about China being a compassionate country and that this virus is helping destroy other economies but boosting Chinese economy is another debatable episode.