Covid-19 proved to be more fatal than the World Wars. With over 22 Million confirmed cases worldwide and 775K+ deaths, the pandemic has struck the world pretty hard. Particularly the world economy has gone through a disastrous patch. Lockdown was considered the only solution in the absence of a vaccine but no one knows whether it was effective in putting the hurdles in the way of COVID-19. But one thing is sure, it has definitely put hurdles in the path of the world economy.
The superpowers and countries with large economies have suffered more than third world countries. The revival of the economies seems to be a few years away. Yet there are a few people who have earned handsomely during this pandemic. While some of them will be earning for a number of years to come.
China has been manufacturing literally everything we need in COVID-19. From masks to ventilators, they are producing and supplying such items all over the world. They are not only the top suppliers of face masks but also good suppliers for mask machines. Even though the pandemic started from this region yet the strong economy and good strict policy of Chinese govt haven’t let them down.
Apart from China, the scenario is almost the same in the rest of the world. Even superpower like the USA is feeling the heat. Due to economic pressure, they have to lift the lockdown even though there are still thousands of confirmed cases every day. The unemployment rate has gone to an alarming level. From that you can consider what kind of issues underdeveloped countries would be facing.
So there isn’t anything clear about the world economy and its future at the moment. In case the Corona Virus appears again in the winter season it will become pretty hard to get out of such a situation.