Covid-19 Global, Pandemic impact on World Economy

Muhammad Fahad Sattar (), Sehrish Khanum (), Ahsan Nawaz (), Muhammad Muzamal Ashfaq (), Muhammad Anas Khan (), Muhammad Jawad () and Waseem Ullah ()
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Muhammad Fahad Sattar: Kunming University of Science and Technology, China
Sehrish Khanum: Kunming University of Science and Technology, China
Ahsan Nawaz: Project Management Department, CCEA, Zhejiang University, Hangzhou, China
Muhammad Muzamal Ashfaq: Power Engineering and Engineering Thermo-physics, Jiangsu University, China
Muhammad Anas Khan: College of Engineering, China Agricultural University, Beijing, China
Muhammad Jawad: Agricultural Engineering, BahaudinZakarya University, Multan
Waseem Ullah: Kunming University of Science and Technology, China

Technium Social Sciences Journal, 2020, vol. 11, issue 1, 165-179

Abstract: This exploratory study is carried out in April, 2020, when corona virus is spread all over the world and become Economic crisis 2020.The objective of this study is  to answer some questions arise in mind, how many countries infected and reduce their economic activities? What are effective fiscal and monetary policies at international level to address the crisis? Is monetary and fiscal policy used as vaccine to prevent the world economy from crisis?  It is a hot topic these days when world is facing this covid-19. Researcher get information from different website, international monetary fund(IMF), Organization of economic cooperation and development (OECD) Standard& poor's, (S&P) rating agencies, and some past papers to explain the impact of Corona virus on world economy. Further explain the losses from one industry to another industry. And finally concluded that world economy is fighting with dual nature crisis. On one hand Death of million people from corona, other is fall down of economy. First challenge is to save the people from death, and secondly to save the world from economic crisis. But these two challenges are contradicted.  If want to save people lives then implemented stay at home, social distancing policy, and shut down the country. But we can save our people live but economy fall down sharply because of shut down all businesses in the country. If save economic crisis then people should go out and work as usual, world economy will boost but soon we will lose million or billion of people live which also effect the fall down economy. Policy maker, doctors and health care manufacturer should sit together find ways which is benefits for both people live and save economic crisis.

Keywords: Covid-19; outbreak; pandemic; monetary policy measures; and fiscal policy measures; liquidity provision (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:tec:journl:v:11:y:2020:i:1:p:165-179

DOI: 10.47577/tssj.v11i1.1503

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