Coronavirus: A Wakeup Call For The Global Economy
UNIQUE TIMES|March - April 2020
The Chinese economy looks set for a contraction in the March quarter as activity in the manufacturing sector was reported at a record low in February. The Indian economy is already going through challenging times as the recent Q3 GDP data suggests the growth slowdown continues with a turnaround still elusive. The picture for the global economy is also bleak with talk of a recession in the US economy gaining ground.
Coronavirus: A Wakeup Call For The Global Economy

It was from Wuhan, the sprawling capital of Central China's Hubei province, that the WHO Country Office in China got its first report that pneumonia of an unknown cause had been detected. Later, on January 30, the WHO declared the outbreak a Public Health Emergency of international concern. The coronavirus disease (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) and has affected over 90,000 people the world over to become a global emergency.

The epicentre of the outbreak is in China with the province of Hubei and eastern China the worst affected. The Chinese government imposed a lockdown in Wuhan and other cities in Hubei province to quarantine the epicentre of the outbreak of coronavirus disease. Economic activity and movement of people in these parts have come to a grinding halt.

There were 80,000 confirmed cases of COVID-19 in China itself, resulting in the death of nearly 3,000. More than 10,000 cases have been reported in other countries, and over 150 people have died till date. The situation is grim, and it demands a quick and coordinated effort across the world to contain its further spread.

The economic damage

Beyond the public health aspect, another crisis is looming, and that is about its broader impact on the global economy and markets. Even if the virus turns out to be less deadly than feared, the fear itself, and all the emergency control and containment measures required will be a setback for the global economy. It is now sure that the epidemic will hurt the world economy by the disruption of global supply chains.

Denne historien er fra March - April 2020-utgaven av UNIQUE TIMES.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra March - April 2020-utgaven av UNIQUE TIMES.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA UNIQUE TIMESSe alt
Bhutan: The Enchanting Jewel Of The Himalayas
UNIQUE TIMES

Bhutan: The Enchanting Jewel Of The Himalayas

Majestic snow-capped mountains, picturesque valleys, verdant forests, centuries-old Buddhist shrines and monasteries, fluttering prayer flags, a serene way of life and folks boasting the best happiness index in the world...this Land of the Thunder Dragon has much more to entice those with wanderlust.

time-read
6 mins  |
October - November 2024
Bail - Emerging Trends In The Context Of Money Laundering Laws
UNIQUE TIMES

Bail - Emerging Trends In The Context Of Money Laundering Laws

The Hon'ble Supreme Court in case of Manish Sisodia Vs Directorate of Enforcement 2024 SCC Online 1920 has upheld certain key propositions that where a trial has not merely been delayed but has not even commenced after a long period of incarceration, the same would be violative of Article 21 of the Constitution of India.

time-read
5 mins  |
October - November 2024
Toyota, Maruti Suzuki Boost Hybrid Vehicle Sales in Uttar Pradesh Amid Tax Waivers, Spark Industry Debate
UNIQUE TIMES

Toyota, Maruti Suzuki Boost Hybrid Vehicle Sales in Uttar Pradesh Amid Tax Waivers, Spark Industry Debate

Toyota and Maruti Suzuki are ramping up marketing efforts for hybrid vehicles in Uttar Pradesh, leveraging new state tax waivers that offer buyers savings of up to $15,800 on luxury models like the Toyota Vellfire.

time-read
1 min  |
October - November 2024
Supreme Court Rejects AAP Government's Plea to Expand NRI Quota in Punjab Medical Colleges
UNIQUE TIMES

Supreme Court Rejects AAP Government's Plea to Expand NRI Quota in Punjab Medical Colleges

The Supreme Court rejected the AAP-led Punjab government's plea challenging the High Court's ruling against expanding the ‘NRI quota’ to include distant relatives for medical and dental college admissions.

time-read
1 min  |
October - November 2024
USA's Delaware Supreme Court Confirms Byju's Default on $1.2-Billion Loan Amidst Ongoing Insolvency Proceedings
UNIQUE TIMES

USA's Delaware Supreme Court Confirms Byju's Default on $1.2-Billion Loan Amidst Ongoing Insolvency Proceedings

The Delaware Supreme Court has upheld a ruling that edtech firm Byju's defaulted on a $1.2 billion Term Loan B (TLB), validating claims made by US-based lenders.

time-read
1 min  |
October - November 2024
India Approves Rs 3,300 Cr Semiconductor Packaging Plant in Gujarat, to Boost Chip Production
UNIQUE TIMES

India Approves Rs 3,300 Cr Semiconductor Packaging Plant in Gujarat, to Boost Chip Production

The Union Cabinet has approved a Rs 3,300 crore proposal from electronics manufacturer Kaynes to establish a semiconductor packaging plant in Sanand, Gujarat.

time-read
1 min  |
October - November 2024
Thar Roxx: Your Perfect Off-Road Companion
UNIQUE TIMES

Thar Roxx: Your Perfect Off-Road Companion

To say that Mahindra knows the Indian customer really well, will be an understatement. Their biggest hits have come in various forms over the years, from the XUV500 to the XUV700 and the Scorpio N in recent times.

time-read
3 mins  |
October - November 2024
Exfoliate Your Way to Flawless Skin
UNIQUE TIMES

Exfoliate Your Way to Flawless Skin

Imagine waking up to smooth, glowing skin every day—skin that feels soft to the touch and looks naturally radiant without the need for heavy makeup or filters.

time-read
3 mins  |
October - November 2024
The Stinking Rose: Flavourful and Full of Health
UNIQUE TIMES

The Stinking Rose: Flavourful and Full of Health

Garlic, the humble bulb with a pungent aroma and a rich history dating back thousands of years, has earned a reputation not only in culinary delights but also as a powerhouse of health benefits.

time-read
2 mins  |
October - November 2024
Never give up!
UNIQUE TIMES

Never give up!

In the earlier stage of your life, it was someone else who might have been gravely instrumental in shaping your viewpoints. Hence, it is supremely important to re-evaluate what you believe in, when you become an adult.

time-read
4 mins  |
October - November 2024