Загрузил Valeriia Shulipenko

Эссе на тему Коронавирус в экономике на английском

Shulipenko V. 9-15-51
In a contemporary world where a situation such as we are facing now has touched
upon different nations, it has become a shared problem and the decision must me
found swiftly. Otherwise we might find ourselves at circumstances much more
severe that these.
Today we face economic crisis worldwide not because of any economic factor but
rather because of COVID-19 (Coronavirus disease 2019, originating from Wuhan,
China): the stock market crashed and if the cure for the virus is not found in the
nearest future, the market can fall even further. The repercussions of COVID-19
are vast, extensive and cover every country on each continent, among
repercussions are general panic of masses caused in people by uncertainty in
population and strict measures imposed by the government, such as total control
and isolation. Countries close its borders which may actually lead to less use of
gasoline as travelling is limited.
China and South Korea, previously stricken by the epidemic, fought back the virus
and now managed to somewhat lighten the situation and contain the spread of the
virus which cannot be said of Europe and the USA. If the uncertainty holds, the
President of the USA Donald Trump may face serious problems in his re-election
in 8 months’ time. President Trump has already declared that the USA is in a state
of emergency.
If Europe does not overcome the current disastrous situation wrought by COVID19 it may be out of the game. China who managed to mend their market situation
may take its place. In this case, further stock market crashes won’t follow as
Chinese economy stabilizes – slowly but surely.
Meanwhile, Russia faces the risk of inflation and this time Central Bank
recommends selling dollars, not buying them as well as rising the key rate of
Central Bank.
This situation that concerns the whole world can only be solved if we work
together – already China and the USA collaborate on a vaccine to combat COVID19. Unfortunately, virologist are unable to give any prognosis, be it positive or
negative, at this rate.