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Coronavirus COVID-19 causes over Rs 500 lakh crore loss to world economy, China faces flak

Coronavirus COVID-19 causes over Rs 500 lakh crore loss to world economy, China faces flak


Mangalore Today News Network

New Delhi, Apr 09, 2020: As the coronavirus pandemic threat continues to rock the world, the economic repercussions of the virus outbreak is devastating and far reaching. The impact of the virus outbreak has not just been the loss of lives but the entire world economy is also on the verge of a collapse. The analysis was done by Zee News Editor-in-Chief Sudhir Chaudhary in DNA, the world’s most-watched news show.

 

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According to the United Nations ’COVID-19 and World Of Work’ report, the corona pandemic could result in the loss of about 25 million jobs worldwide. The United Nations Trade Report states that two-thirds of the world’s population lives in developing countries, and a rescue package worth about Rs 187 lakh crore is needed for the people in these countries.

While the World Bank has said that the virus outbreak could create 10 million ’poor people’ at East Asia and Asia Pacific regions.

The Organization for Economic Co-operation and Development has predicted that due to this epidemic, the world’s GDP growth rate could be only one and a half per cent in 2020 whereas before the outbreak of COVID-19 it was estimated to be around 3 per cent. That means now the economies of the world will grow at half the speed.

According to The Henry Jackson Society, a British think tank, the coronavirus has caused more than Rs 300 million crore economic losses in countries around the world. This is also about Rs 100 lakh crore more than the total economy of India.

While it is being alleged that all this is the result of China’s negligence, but who will end up paying the price? In the future, when the world overcomes this epidemic how will they manage to overcome the sinking economy of the world? Obviously, the governments of all countries will put money in the market to bring the economy back on track, but where will that money come from?

Obviously, this money will go from our pockets and how that is how this corona tax will be recovered slowly. Shouldn’t China be asked to account for this loss? Shouldn’t China be fined for this? These questions are beginning to arise in many countries of the world.

The chairman of the United States Senate Judiciary Committee Lindsey Graham even said,"Whatever damage has been caused by this epidemic, the whole world should send its bills to China."

So now, if the countries of the world start sending the damage bills to China then how big would the amount of damages be? As per, the Henry Jackson Society’s assessment, "If Britain wants, then it can claim $449 billion from China i.e. about Rs 34 lakh crores. America can also claim $1200 billion i.e. Rs 90 lakh crores as compensation from China. Whereas Canada can claim $59 billion i.e. about Rs 4.5 lakh crores and Australia $37 billion i.e. about Rs 2 lakh 80 thousand crores.

These fines are based on the announcements of economic losses and relief packages in the respective countries since the lockdown till April 5 but no country has officially recovered any compensation from China, yet. Although the demand for this has definitely started to arise.

But it is not only about economic compensation, the question is also to show China a mirror, because it is not yet ready to believe that the coronavirus spread from its land to the entire world.


How the virus spread from China in 100 days

Now we analyse how the virus spread from Wuhan, China exactly 100 days ago. Things have returned to normal in China, the cities there are shining, but these 100 days have changed the whole world forever. This is how the virus spread throughout the world in 100 days.

On December 31 2019, the first case of infection was reported in Wuhan, China.

After this, the next day i.e. on January 1 2020, the sea food market of Wuhan was closed. It was from this place that the outbreak of coronavirus began.

After 9 days..i. On January 9, this virus was identified and it was discovered that it is a new type of virus.

On the 13th day i.e. January 13, a case of this infection was reported from outside China, for the first time. Thailand confirmed that a 61-year-old woman was found infected.

After 20 days, it was proved that this coronairus is spreading from one person to another.

The virus reached Europe on the 24th day. The reason for this was that during this time many citizens of China had reached different Eurpoean countries to celebrate the Lunar New Year.

On this day, US President Donald Trump in Davos had said that his country is not threatened by this virus.

Britain broke away from Europe on the 31st day i.e. 31 January and it was on the same day that this the virus started infecting people rapidly.

The first death outside of China occured on the 36th day. The person was a citizen of Wuhan and died in a hospital in the Philippines.

The 31st patient suffering from Virus appeared in South Korea on the 50th day. And this same patient is said to have infected thousands of people in South Korea. She was a 61-year-old woman who attended a prayer meeting in two different churches and from here the situation in South Korea started to become uncontrollable.

By the 56th day, the number of people infected with this virus in the world had exceeded 80 thousand.

Things started getting worse in Italy by the 66th day, as hundreds of people died every day.

On the 71st day i.e. 11 March 2020, the World Health Organization declared the coronavirus an epidemic.

On the 77th day, normal life was effected across the whole world. In Italy, an average of 450 people died every day.

After 85 days, lockdwon was announced all over India.

After 93 days..i.e. on April 2, the death toll from this epidemic across the world has crossed 50 thousand.

With the completion of 99 days, nearly 400 crore people of the world were under lockdown and today that is the 100th day, there is no hope of removing this lockdown. Whereas, as soon as 100 days are over, China has removed the shutdown from Wuhan, the city that spread the virus all over the world.


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