A Coronavirus Crash?
And this brings us to today’s world, the coronavirus world. One that, although it isn’t a full on economic meltdown just yet, it certainly seems it’s going to happen any minute. For the first time in history entire industries, such as hospitality, airlines and tourism, are at breaking point. Robust and emerging economies are both looking increasingly more unwell.
Previous large scale outbreaks tended to, for the most part, disproportionately affected third world nations and stay localized to those countries but this new virus does not discriminate against age, race, color, or location. Some countries have been hit worse than others, America has the highest death toll to date, many other nations were already suffering financial and political issues before the coronavirus came along.
Places like Italy, China and Iran, who between them were already battling high rates of inflation, a slowing economy, and political turmoil. Unemployment rates have skyrocketed in every country affected as the continuing shockwave caused by the virus continues decimate businesses of all shapes and sizes.
And while people are dying all over the world it has become somewhat of a political hot potato as some draw a dividing line between what is reality and what they believe the reality is. Ineffectual leadership and half baked responses by several world governments have seen the spread of the virus not just the current economy but any future one as well.
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