Challenges to the world economy in 2020.

 Challenges to the world economy in 2020.

World economy has always been a sign of development in human society.  Globalization and economic trades can be traced as early as 13^th century. We may not have shown a trance towards it, but human societies have started to develop world economies.

Human societies have had always been interconnected with each other and just like other stuffs, diseases and  pandemics also spread from one place to another.

Today in the 21^st century we may consider us developed in terms of technologies, but its true that we are yet not advanced to fight an pandemic.

Many events consistently   happen which depress one country’s economy, but today we are facing a situation where every country is forced to lockdown themselves. People are forced to stay in their houses and shut their works and business.  No doubtly, this has depressed most nations’ economy.  Even the nation’s like USA who have the title to be one of the most powerful nation is not able to cope up with the situation.

Covid -19 have surely forced the world into a huge depression. The world bank recent estimates shows that the world’s economy is expected to shrink over 3.2% in 2020, while U.S  economy  to reduce by 6% and European countries to about  9.11%.

The whole world and people are suffering but, some are suffering the worst.  Recent estimate shows that the worst impact of COVID- 19 will be faced by poor countries, and poor peoples.  Lockdown have forced 60% of the people to extreme poverty. This population depends on daily wages, and these are the one who mainly work in unorganized sectors. But even the workers in organized sectors have to face job losses, depleting their living conditions.  Hunger and starvation have always been there in our society, but this pandemic   have no doubtly rose them to its peak.

Many of the big multinational companies even have to take loans or have to sell their shares to  pay their employees . And, hence these all conditions have shaken the world economy to its roots.

However, governments all over the world  are trying their best to cope up with present situation and  provide its people the basic needs  for their livelihood. Many countries have however opened their lockdowns  seeing better conditions with people following certain rules maintain social distancing and working  to raise up production of its country.

No-doubtly, Covid-19 has affected 2020 worsly and will always we remembered to us  as a depressing year in coming years affecting world’s , countries , and individual economy terribly, but we need to fight against this deadly disease together and  because “THERE IS ALWAYS A SHINGING SUN  AHEAD BEHIIND  THE DARKEST NIGHTS”.  2020 may be a year for the world economy with fulls of challenges but , after this our countries and world economy will definitely rise and come back to its original position.