Shulipenko V. 9-15-51 Essay 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.
