COVID-19 Impact on Asia and Steps to Recover the Economic Loss

The outbreak of pandemic

In different decades, the world has been witnessing the outbreaks of various pandemics. these broke out suddenly and ended up affecting thousand an even millions of people around the globe. Coronavirus in the 21st century is also one of a kind.it is also known to be “COVID-19“. It broke out of china and kept spreading ti different countries of the world.

Facts and figures

It is sad to mention here that almost 180+ countries around the globe have already been affected by a coronavirus. More than 14000 people are dead in different states, also more than 10,000 have been recovered.

Vulnerability and lockdown

Well, if we take a look at the chances of spreading the virus to others, then there are more than 100% chances that the virus’s bacteria can spread from a person or place to others. Under all these circumstances, almost all impacted states of the world have declared partial or complete lockdown to their cities. This has a direct impact on the combined as well as individual factors of society.

What are our responsibilities as citizens?

Well, after knowing the complexity of the virus, one needs to take great care individually .people are being strictly warned to stay at home and isolate them as long as the pandemic continues. So, one should act as a responsible citizen to the government’s instructions. Everyone should stay away from others, keep washing their hands properly after every half an hour, maintain the best of their domestic hygiene, put masks on faces to avoid any inhalation of infected air.

Huge impact on society

COVID-19 has already been spread over more than 188 states of the world and caused the instant lockdown of cities… It has a huge impact on the norms of our society. People have to stay at home reducing socializing and gathering. Businessmen and labor have to put a small break to their work. Daily wagers are the part of the society which has been badly affected as they are the ones who earn daily to meet their both ends meet.

Major impacts on the global economy

The lockdown has a huge impact on the economy of the world, so is in Asia. The whole Continent is affected and also its economy has had a big impact that made it reduce to many folds.

All Asian countries including china, India, Bangladesh, The Islamic Republic of Pakistan, Indonesia, Thailand, Turkey, Afghanistan. Saudi Arabia, Iraq, Japan, and the Philippines have their shops shuttered down, the railway tracks are empty, airports are closed, prayer sites like church, mosques are partially closed, factories are being seen idle 24/7.

Deaths caused

As per most recent figures, 21,335 people have already been pushed to death in small time by COVID-19 globally. 473, confirmed cases have been globally registered from different states. Also, 114,779 cases are those who were recovered from the virus. The recoveries were only possible due to extensive care taken by sophisticated medical teams.

Recovering the loss- The Greatest Challenge

The biggest question and objection that rises into one’s mind Is to think about how the major global economies can cover the loss caused by the pandemic. All Asian countries have a huge impact on their economy. So, this loss needs to be recovered as the pandemic and lockdown lowers and also when it is even going on. It is no doubt an enormous challenge of world economies.

Preventing collapse in demands

The biggest approach that can be considered in the context of recovering the economical loss of countries and their companies is that they need to prevent their customers’ demands from a huge collapse. If the demands are once lowered by a big margin, it automatically becomes the biggest challenge to regenerate them all.

A continuity of shopping required

All the business organizations need to keep their customers buying something in the present situation too. This is because due to complete lockdown people are too afraid to go out or shop something. So online shopping is the biggest option here which can prevent their customers from being lost totally.

The world economy after being impacted so much by COVID-19 needs to maintain its stability as the lockdown ends or lowers down. Let’s not lose the hopes and stay positive for a better time to come.

Sebastian

Sebastian was born and raised in the busy city of Abbottabad. As a journalist, Saad Mushtaq has contributed to many online publications including the PAK Today and the Huffing Post. In regards to academics, Saad Mushtaq earned a degree in business from the Abbottabad UST, Havelian. Saad Mushtaq follows the money and covers all aspects of emerging tech here at The Hear Up.Thanks