Critical Review of COVID-2019 in America and Impacts on Its Economy

42 Pages Posted: 30 Jun 2020

See all articles by Naushad Khan

Naushad Khan

University of Agriculture, Peshawar - Institute of Development Studies

Shah Fahad

University of Agriculture, Peshawar

Shah Faisal

University of Agriculture, Peshawar

Ayasha Akbar

Government Degree Girls College, Shaikh Maltoon Mardan

Mahnoor Naushad

University of Agriculture, Peshawar

Date Written: June 24, 2020

Abstract

The study was carried out since 20th June, 2020. The universe of the study was America. The major objective was to critically review the COVID-2019 in America and its impact on its economy. Secondary data was used and total 19 articles were studied in depth and drew the result. The result indicates that the COVID-2019 first case was identified on 20 January, 2020 in Northwest state of Washington, a man was came from Wuhan on 15th January. He was treated in the hospital for full analysis and he was also recovered. Trump in the beginning told that it will be cleared very soon but latter on the number of corona cases were increased and spread to other cities of America. After 16th April, 2020 the total number cases in China was decreased and only 46 new cases were identified while in America the cases were increased and reached to 674,829 and the death number was 34475 while the new cases number was 26826. Hustle and bustle was started in New york, Washington and California and the cases of America come on the top in the world followed by Italy, Spain and Germany. Donald Trump claimed to WHO for this high spreading corona virus in America. He told that WHO have not helped in time while America pay major portion of the fund to WHO. Latter on Dr. Fauci told that it is the mistake of the Donal Trump who one week late started the locked down in the country and because of this the corona spread in America all cities. It was also observed that the medical facilities were less than the requirements. ICU beds shortage were found in the hospital. The number of corona infected people was more than the ICU Beds. Locked down has shacked the economy of America. Supply and demand were highly affected by locked down. Locked down have also decreased the price of the oil in America. The people mostly stayed at their houses, so the expenditure of the oil was less than the supply and because of this the price of the oil decreased and reached to minus 37 dollars. Among members of Unite Here, a union representing 307,000 hotel and restaurant workers nationwide, 98% are out of work. California may lose $20 billion to $50 billion in tax revenues, and this will come from its $200 billion annual budget. Washington has answered with a $2 trillion relief package, and the Federal Reserve Board this week announced $2.3 trillion of additional virus relief for small businesses and local governments. Similarly trade was banned and industries were closed only for corona Control. All schools and universities were closed by government while on line classes were started in the country. All economic situation of the country was badly affected by corona virus locked down and economic growth of the country was declined. Mostly all nations have focused on corona. All scientists of the America tried for discovery of Corona Vaccine while still no vaccine was discovered. The system of the health was crushed due to large number of corona cases. The range of the poverty in the country was increased. About 25% people become unemployed. The debt burden was raised and reached to 26 trillion dollars. All airport of the country was closed by government. Locked down period was increased till August, 2020. Trump ordered to all banks of the country for loan provision on low interest rate. As like great depression 1930 recession chances were increased. On the basis of problems the study recommend that to first cover the COVID-2019 in the country and then think for economic development of a country; All sectors of the country will be opened to that time when corona cases ended in America; Locked down and stay at home is the only tool for corona controlling; All boundaries of the country should be Locked; All airports of the country should be closed till corona controlling; Sanitizer should be used for the purpose of corona control; Always Mask should be wore and Social distance role should be kept in the country; Number of beds in ICU should be increased; All cases of corona should be recorded for corona ups and down; Free fund should be provided to below poverty line people in the country; Doctor should be encouraged in the country; Social stigma should be decreased in the country; Medical facilities should be provided to people in the country on free basis; First is the health and then the economy, when the health cover then the economy will be developed, So the study concluded that care about the health and without health the development of America is impossible.

Keywords: Critical Review, COVID-2019, America, Impact, Economy

Suggested Citation

Khan, Naushad and Fahad, Shah and Faisal, Shah and Akbar, Ayasha and Naushad, Mahnoor, Critical Review of COVID-2019 in America and Impacts on Its Economy (June 24, 2020). Available at SSRN: https://ssrn.com/abstract=3635062 or http://dx.doi.org/10.2139/ssrn.3635062

Naushad Khan (Contact Author)

University of Agriculture, Peshawar - Institute of Development Studies ( email )

University Campus
Peshawar, khyber Pakhtunkhwa 25000
Pakistan

Shah Fahad

University of Agriculture, Peshawar

Pakistan

Shah Faisal

University of Agriculture, Peshawar ( email )

Pakistan

Ayasha Akbar

Government Degree Girls College, Shaikh Maltoon Mardan ( email )

Shaikh Maltoon
Mardan
Pakistan

Mahnoor Naushad

University of Agriculture, Peshawar

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