The global recession is beginning due to the spread of the novel coronavirus.
Restaurants, shops, airlines, and factories shut down all over the world from the US to Paris and Madrid. Economists are warning that a global recession is no longer looming a threat. They say that it is already here.
Darkening economic data released by China on Monday showed that the country pounded by the coronavirus outbreak in January and February. The world’s second-biggest economy looks unlikely to recover from this one anytime soon.
Now, with the governments and central banks in Europe and America pursuing drastic measures to try to control the pandemic. Asia is still on high alert and financial markets are all going down the hill right now. A growing number of experts say that a global contraction is beginning or some might say that it has already begun.
Coronavirus in South Korea Jump to 156 Cases
Healthcare Workers Nationwide Infected with CORONAVIRUS, Over 1,700 Infected
The past week has seen dramatic changes in the daily lives of many people. This is because of the number of cases reach above 175,000 and countries all over the world are making drastic measure just to contain the virus.
Meanwhile, financial conditions have deteriorated in recent days. Making it harder for buyers and sellers to price their products as market experience extreme measures.