Effects of covid-19 to world economy
Answers
Answer:
India is working on a set of policy measures to combat the economic impact of the coronavirus and that may include some cash transfers to workers in the informal sector, Krishnamurthy Subramanian, chief economic advisor to the Indian government said.
Subramanian said that tests found there is still no evidence of community spread of the virus in India.
He added there will be a trade-off between containing the spread of infection and the consequent impact of that on the economy.
explanation:
Early indications of COVID-19’s impact on the Chinese economy are worse than initially forecast. Surveys of China’s manufacturing and services sector plunged to record lows in February, automobile sales sank a record 80 percent, and China’s exports fell 17.2 percent in January and February. The official data confirmed a widespread slowdown in economic activity foreshadowed in low pollution levels and depressed shipping traffic, among other informal barometers. Analysts have sharply revised down estimates of Chinese growth, with many now predicting a drop in first quarter GDP, the first contraction since China began reporting quarterly data in 1992. As COVID-19 spreads, China’s economic recovery will be challenged as demand from other countries drops as they cope with the virus.