coronavirus- what will be the econic consequeneces for india
Answers
Explanation:
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Investors fear the spread of the coronavirus will destroy economic growth and that government action may not be enough to stop the decline.
In response, central banks in many countries, including the United Kingdom, slashed interest rates.
That should, in theory, make borrowing cheaper and encourage spending to boost the economy.
Global markets did also recover some ground in late March after the US Senate passed a $2 trillion (£1.7tn) coronavirus aid bill to help workers and businesses.
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Explanation:
There are three shocks to the global economy that have surfaced as a result of the coronavirus pandemic.
As the Dow Jones Industrial Average suffered its worst trading day since 1987 amid the coronavirus pandemic, the United States and a few other economies are now closely edging towards a recession, given the scales of business and commerce shutting down.
With a 30-day travel ban announced by Trump on all US-Europe travel to contain the spread of the virus, most business dependent on global air traffic have taken a hit already. Also, as small and medium scale businesses shut down, cancellations and postponements of public activities will drastically reduce consumer spending across countries and bring the velocity of spending down.
What we can now see is a trilateral series of simultaneously operating shocks surfacing from the COVID-19 pandemic. In no particular order, they are – an initial supply side shock imposed from China’s shutdown, a fiscal shock for countries where there is a declared public health emergency and an oil price shock with prices of crude oil cut to encourage higher consumption amidst weakening global demand.