“Remember when the titanic was sinking and band continued to play. Well we’re the Band.” -The Pentiles
In late 2019 or beginning of 2020 an epidemic hit the planet name Corona virus alias COVID-19.This virus primarily originated from Buhan city of China and was spread across the planet by immigrants of various countries as symptomatic and asymptomatic carriers. This virus not only impact or changed the planet scenario but at the local level also. The death rate of Corona Virus is 1-4% but still spread with alarming speed.
Italy was the primary country to impose a lockdown to prevent the escalation of a rapid increase within the virus chain. Thereafter other countries of the planet soon impose an equivalent. Soon after lockdown people were confined o their houses and businesses got down. This lockdown harms every stratum of the countries, most vital of which is that the world Economy with an excellent rise in unemployment and fall in output.
Most major economies of the planet lost almost 2.9 percent of their gross domestic products. Global GDP was estimated at around 87.55 trillion U.S. Dollars in 2019 means a 4.5 percent drop by economic process as a consequence of just about 3.94 trillion U.S. Dollars of lost economic output. This cause an economic recession in 2020. Every stratum is subject to substantial growth downgrades.
Emerging markets and developing countries are going to be buffeted by economic headwinds from multiple quarters’ viz. demands on the weak health care system, Loss of tourism and trade, tight financial conditions amid debt. Demands of the many goods and services also trembled. At some places, food security risk also arouses. Even this depressing outlook is subject to great uncertainty and significance. The crises unleash not only the economy of the planet but also income.
The recent data of UNIDO seasonally adjusted index of commercial production states that both upper-middle and lower-income countries were impacted by this pandemic. consistent with recent data by John Hopkins University spread of the pandemic in terms of cases and death is sort of asymmetric everywhere the planet . All manufacturing industries were impacted by the crises over the amount March 2019 to April 2019. The part of countries that experienced a decrease in manufacturing varies from 55% (Pharma) to 94% (Motor Vehicles).
Not all industries impacted to a greater extent textile and apparel industries expected to be hard hit instead of plastic and rubber which is least impacted. SMEs expect an outsized decline in profit and more job cuts than large firms. The matter of huge firms was different from smaller firms so every industry needed a separate policy to cope up within the near future. Firms are calling for tax cuts as within the case of personal Bus operators or agencies were calling for tax reductions or cut in Himachal Pradesh and other similar areas. To cope up with things in India Prime minister launched the “Vocal for local” campaign. Not only Industries but COVID-19 also hit the education system of the planet. It’s brought disruption to education across World by institution closure.
At the height of the Pandemic, 45 Countries in Europe and therefore the central Asia region closed their schools affecting 185 million students approximately. Unaware of this example administration and teachers were forced to create an emergency remote learning system. This technique has brought an excellent change within the methodology of the teaching-learning process but this result in an actual loss in learning as learning by classroom interaction is more fruitful than remote process. Remote learning has many challenges in it viz. problem of network, availability of remote sensing devices, technological innovation challenges, household income, etc.
These challenges cause losses in learning and impact tons on students especially those that wanted to be skilled or expertise in their fields. We are now recovering from things but still, we’ll face a slump within the education system shortly also. As stated earlier COVID-19 not only on economic aspects it also impacted human behavior. It altered the human mindset and behavior adversely. It affected the way one thinks, design, communicate, builds and run the experience that folks wanted. It results in the virtual century for maintaining relationships. A collective crisis raises sensitivity to social interactions.
In the nutshell, we will say that the historical event of COVID-19 impacted the planet not fiscally or monetary, which can be recovered soon after a while but its impact in mankind, its health issue, attitude, and therefore the behavior will last forever till the entire end of Corona Virus. But one still has got to play the band of survival to survive.
