As the pandemic has spread all over the world inflicting with its deadly ferocity to the masses, more than 80 lacs and 30 thousand people have become the victim of this outbreak from which 4 lacs sixty thousand people became morsel of death and it is widely spreading due to its contagious transmission. The virus initiated from its epicenter Wuhan in China that has recuperated now and is now back to life, but the rest of the world is facing the spark of global economic slowdown and cessation of business activities due to lockdown. The outbreak has larking to threaten the life security of every individual as it can worsen to death. It is being surprising that UK has rebuttal the Covid 19 from HCID diseases it seems a good signal but things are worsened.
Corona Virus has downsized the market and deduced the per capita income expulsion of the market is prevalent due to the slump in the petroleum market. The GDP of the world as we stand right now is approximately $88,081 billion or $90 trillion. The first three months since taking February and March, April inclusive of it, we have almost lost $4.2 trillion in global GDP. Pakistan’s PSX is also dropping to the lowest points and is heading to shambles albeit the circumstances and consequences would be grave if this carries on more than 6 months.
The GDP of the world as we stand right now is approximately $88,081 billion or $90 trillion. The first three months since taking February and March, April inclusive of it, we have almost lost $4.2 trillion in global GDP. Pakistan’s PSX is also dropping to the lowest points and is heading to shambles albeit the circumstances and consequences would be grave if this carries on more than 6 months
The influx of endangered economy lies and kept on losing 2,480 points in the Pakistan Stock exchange, which is almost 7.2 percent lowest bearish. Agronomics is widely overthrown under the grip of this virus. A severe food crisis might be seen without a drought. It will be a human drought where commodities and vegetables will ripe enough to be plucked but there will be no one to pluck them because they are locked up at home to prevent from getting Corona Virus.
Corona Virus is an ordeal that has put wrath to all the ongoing developments with its emergence and has made the economies lose their probabilities of flourishing as the plunges of the international market are indigestible for many. Corona Virus, at first sight, was taken as SARS of 2003 and MERs of 2012 because of linkage to respiratory tract but its transformation is quite different for which FDA is perplexed whether to allow chloroquine in an emergency or not but the question arising is the same that what will be serene when the vaccines and medicine will be made after all the repercussions of this virus that already have deterred the flexing and underdeveloped economies in the same sphere.
There is no famine but the situation has exacerbated due to precaution that harvesting won’t be done because labor is quarantining. Pakistan is solely an agronomic state so 46 percent of labor gets directly affected due to this virus they have no work to do the textile industry has shutdown 3.2 million people claim to be jobless due to this outbreak. That can leash to a niche figure of between 8 to 12 million within the next 6 months as such dwindling will compel companies to lay off employees. The world economy is surpassing from the tough times but this crisis will not be persisting for long as this outrageous outbreak is soon to be faded with which the extinct of unemployment will be modified to massive opportunities and Agriculture and its commodities will not be in troubles because the cultivation has been done the seeds are there is just a short break in reaping their charismatic and efficient benefits. There won’t be any serious setbacks to the agriculture sector because there lays no issue of fallow lands as it happens to impede in famine and other calamities rather it is the medical emergency that can be controlled with taking few steps and making endeavors. The breakdown of Novel Corona Virus has made the progress sporadic for a while but afterward, it gets curbed things will grow smooth and settle down to normal In a nutshell so there should be no fear or panic as these abysmal crash will not stay any longer.
The Writer has completed post-graduation in Political Science from Government College University Lahore, An Analyst analyzing the chaotic situation politics, social issues and international prospects. He can be reached at [email protected]