Numbers are drastically changing every hour, Global economy collapsing, and no one knows a specific name about how many people are infected and lost their life. In countries like the US, Italy, France, and Germany, no one knows the exact amount of mortality. How much wealth damaged?
The medical staff seems helpless in front of the coronavirus pandemic. They are stretching their efforts beyond capacity. Still, things are not coming to an end. The world has never experienced anything like this. COVID-19 is making it very difficult for the global economy, and its on the brink of collapsing.
Crude oil prices have plunged to 30 years low. Aviation, Tourism, Hospitality sectors are facing extreme problems due to pandemic coronavirus. Global economy collapsing due to coronavirus.
Factories are closed due to lockdown throughout the world. Due to shut down in factories, the manufacturing sector is in a coma. The automobile sector is also near collapse since February production is closed.
In the financial market, everyone is trying to exit. There are more sellers in the market than buyers. As an outcome, government securities have plunged to a historical level. COVID-19 pandemic is causing financial disaster and impacting all the sectors of the economy.
Advanced economies like The European Union, The United States, The United Kingdom, Japan, Canada, China, etc. all are announcing massive relief packages to support companies and small businesses. Experts and analysts are claiming the global economy is collapsing like the great depression, 1930.