Impact of COVID-19 Pandemic on Global Economy
Posted: 27 Sep 2020
Date Written: June 10, 2020
The world economy was in a threat due to the US-China trade war, and coronavirus COVID-19 has come with new problems and miseries in the global economy and health. The economic impact of the coronavirus is so severe that the experts predicted that the upcoming global recession will be as like as the 1929 Great Depression or at least will cross the 2008 financial crisis. Countries adopted a nationwide lockdown as a first step to contain the coronavirus, and for that all economic activities and everyday life stopped, empty cities and streets feels like hollows. This paper discusses the global economic impact of the coronavirus and the possible outlook of the global economy after the pandemic ends.
Keywords: COVID-19, Economy, Pandemic, Recession, GDP
JEL Classification: F, Y
Suggested Citation: Suggested Citation