Impact of Covid-19 on World Economy
Covid-19 is a virus that quickly spreads all over the world. After the first finding of this corona virus in Wuhan, China, at the end of 2019 the world has faced crisis in all aspects of life whether in education, tourism, health sector as well as economy. During the COVID-19 epidemic the world has faced drastic effect on economy. As the infection increases preventive measures has been taken like area lock-downs, social isolation and Quarantine has effect the business .The large number of people has been affected from this disease so less people can work. As a result supply chains disrupted, productivity affected which results in business closures. Fear of this epidemic, job losses , income drop and the increased uncertainty results in more firm closures. All the above discussed factors have drastic impact on the global economy. Through commerce and the global value chain, these domestic disturbances affect trading partners. COVID-19 has had a smaller impact than the Great Dep...