Coronavirus Pandemic Impact On The World — Crushed Economy, Shut Businesses And People Home
Like the World War I and II, the fall of Berlin Wall or the 9/11 terrorist attack, coronavirus pandemic is a world-shattering event that will have unimaginable consequences. It will reshape the way government, economies and societies function and will play on our psychologies forever.
Right from the way we interact with each other or governments function, coronavirus will have an impact on all aspects of our lives. Let us examine how Coronavirus will change the world for better or for worse:
Nationalism and patriotism will be reinforced
Coronavirus will strengthen the state and reinforce nationalism. Public will have more trust towards their governments as they will see them as their saviors in the time of crisis. Be it ordering lockdowns or banning international travel, governments across the world are adopting all kinds of emergency measures to find a solution to the pandemic and hence will win the trust of their public.
Crippled global economy
crush the economy, shut businesses and turn many people jobless. The impact will be widespread and can be unprecedented. Sharing the figures with its readers, The New York Times says that —
The US Labor Department reported that initial jobless claims jumped 30 percent the previous week — 281,000, the highest level since the aftermath of a hurricane in 2017.
However, Goldman Sachs foresees a bleaker future with the numbers to reach 2.25 million soon. If this is the impact that COVID-19 will have on the USA, then we can just imagine the depressing state the other economies would be in. Some industries like travel and hospitality have been destroyed already by the pandemic.
Also as people are staying at home they are spending less and that is having a devastating impact on hotels and restaurants. Factories have been shut, car sales have fallen, the gold price is plummeting and many people who relied on daily wages are suffering.
Power struggle between the US and China to intensify
Tensions between the US and China have risen after Trump called Coronavirus as Chinese virus at a White House briefing. He has accused China of hiding the facts and concealing information about the virus initially that caused huge damage to the US as well as the world.
Stephen K. Bannon, a former Trump White House strategist, and other US officials have been warning Trump that a fast-growing China, under Mr. Xi’s authoritarian rule, seeks military, economic and technological domination over the United States and its allies, as reported by an analysist of NYT.
The Chinese offiicials have given a new spin to the pandemic by calling it an American disease brought to China by the members of the United States.
Army who visited Wuhan in October 2019. However, despite its obvious irritation with China, the US needs Chinese government’s help in fighting the virus as well as buying health supplies.
Reliance on Science and Technology
Be it ways to protect ourselves from coronavirus or increase of use of technology to stay connected with our family, friends, colleagues and the outer world, we will be relying more on scientists, technology and experts.
Never again will we freely shake hands with our colleagues or give hugs to our friends. The fear of getting the virus will be so deep-rooted that we will prefer online communication over meeting in person.
However, on the positive side this health crisis is also teaching us how to bond strongly with our family, appreciate simpler things in life and making us stronger to fight future battles with courage and dignity.
Disclaimer: The views and opinions expressed in this article are those of the author after studying data and media reports. These are all assumptions and may or may not hold truth in the long run.