How the COVID-19 Pandemic Impact on Global Economy

COVID-19 is a frightening shock for the global economy - what began in China from Wuhan is now taking the entire world to its knees. Several businesses around the world are going bankrupt, companies are out of business, people are unemployed, and analysts are yet to predict how long these consequences will take to diminish.

So, whether it is a small business or preparing to start your own company, it is necessary to be aware of these effects to make informed choices. But, before we see the sectors that will flourish after and during the pandemic, let us see their impact on the economy as a whole.

The psychological effect

Many people are currently living under a lockdown or quarantine. It has probably brought a significant effect on the economy and seen on stock markets around the world.  Investors are certain about the future, as the knowledge about the spread of the virus and its effect on global growth is at best inaccurate and at worst incomplete.

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