We all know that in our current situation right now that many people are losing their jobs, many companies are losing their profits, many countries are losing their opportunity to improve, and the most important one is that a lot of people are losing their lives, their family and friends. And it is all due to one thing, And that is the Corona Virus. Due to the Corona virus causing a pandemic, A lot of progress has been lost in the making and a lot of people died. The more serious problem is that some countries are experiencing more loss compared to others just because of how they dealt with the situation. And that some are on the verge of being ruins because of this pandemic.
People are losing their jobs, And they're losing it at a fast rate. In one article it is stated that "To curb the spread of the coronavirus, authorities around the world implemented lockdown measures that have brought much of global economic activity to a halt." Which means that globalization is currently in a halt because of the pandemic. And that most of essential business commodities are now at a halt because of it. Trading routes are being closed down for the moment to halt the spread of the virus. Economic movements are also being at a halt as a result of these movements. And it is also dubbed as the "Worst Economic Downturn Since the Great Depression". If some of you aren't familiar with the Great Depression it is a term used to describe the time where there was a severe worldwide economic depression in the 1929 to the 1930's and it was the longest deepest, and most widespread depression of the 20th century. And to compare our situation right now to the Great Depression is to be alarmed about.
Some countries are even receiving backlash from their countrymen because of their poor judgement and decision making to the current pandemic. A fine example of a country having this kind of predicament is the Philippines. There is one article that is named as "The Philippines’ Pandemic Response: A Tragedy of Errors". Even the title itself speaks volume because of the words used. Such as "Tragedy" and "Errors". Key words that we shouldn't see in a country dealing with the pandemic. It is mentioned in the article that "The Philippine government has been boasting that as early as March 16, they had the gumption to implement a lockdown in major cities and provinces in response to the unfolding COVID-19 pandemic. However, Manila’s overall response to the pandemic has been fraught with incompetence and rife with terror.". This occurrence caused an uproar in the country. Its citizens caused rallies because of the poor decisions of the government. Some went to social media to blurt out their problems with the current government, While some went to the streets and caused rallies.
And the most important part is a lot of people are dying each day. When the pandemic was at its early stages the death toll per day all around the globe was at an average of 12000. in the middle section where people already learned about the virus the death toll took a dip and the average went to about 5000 per day. 5000 is still a large number, especially considering it is per day. but now that it's already December the death toll has now increased yet again because of how many people are going out again to hang out or to go on vacation since it's the end of the year. The death toll has now increased to 9000. Which is an 80% increase on the death toll. Almost double the annual death toll each day. Each day people are dying it also means that the total number of people having work and businesses are steadily decreasing which means the lowering of manpower and workforce in the economy. Their deaths affect the GDP of the country by tremendous amounts and if nothing is done the death toll will continue to increase.
The pandemic we are experiencing right now brings upon it a lot of problems. But most of these problems are affecting the economy. And we're not just talking about mere pennies and dimes but we're talking about billions if not trillions of money getting spent because of how bad we dealt with the pandemic was and how severe the pandemic actually is. It is recorded that in the year 2020 we have lost approximately 9 trillion US dollars was lost due to the pandemic. It is without a doubt one of the worst worldwide economic depression that we've experienced to date. And the problem doesn't end with the significant drop of the GDP of the countries. There is also a problem on the Death toll and on how many people are dying annually due to the pandemic. And there are also more problems that are branched to different sections which I cannot thoroughly assess because of the lacking information. But always remember that we will all conquer this problem. Because the power of us human beings is to adapt and change to any circumstance we are given.
Hope is being able to see that there is light despite all of the darkness.
Sources:
People are losing their jobs, And they're losing it at a fast rate. In one article it is stated that "To curb the spread of the coronavirus, authorities around the world implemented lockdown measures that have brought much of global economic activity to a halt." Which means that globalization is currently in a halt because of the pandemic. And that most of essential business commodities are now at a halt because of it. Trading routes are being closed down for the moment to halt the spread of the virus. Economic movements are also being at a halt as a result of these movements. And it is also dubbed as the "Worst Economic Downturn Since the Great Depression". If some of you aren't familiar with the Great Depression it is a term used to describe the time where there was a severe worldwide economic depression in the 1929 to the 1930's and it was the longest deepest, and most widespread depression of the 20th century. And to compare our situation right now to the Great Depression is to be alarmed about.
Some countries are even receiving backlash from their countrymen because of their poor judgement and decision making to the current pandemic. A fine example of a country having this kind of predicament is the Philippines. There is one article that is named as "The Philippines’ Pandemic Response: A Tragedy of Errors". Even the title itself speaks volume because of the words used. Such as "Tragedy" and "Errors". Key words that we shouldn't see in a country dealing with the pandemic. It is mentioned in the article that "The Philippine government has been boasting that as early as March 16, they had the gumption to implement a lockdown in major cities and provinces in response to the unfolding COVID-19 pandemic. However, Manila’s overall response to the pandemic has been fraught with incompetence and rife with terror.". This occurrence caused an uproar in the country. Its citizens caused rallies because of the poor decisions of the government. Some went to social media to blurt out their problems with the current government, While some went to the streets and caused rallies.
And the most important part is a lot of people are dying each day. When the pandemic was at its early stages the death toll per day all around the globe was at an average of 12000. in the middle section where people already learned about the virus the death toll took a dip and the average went to about 5000 per day. 5000 is still a large number, especially considering it is per day. but now that it's already December the death toll has now increased yet again because of how many people are going out again to hang out or to go on vacation since it's the end of the year. The death toll has now increased to 9000. Which is an 80% increase on the death toll. Almost double the annual death toll each day. Each day people are dying it also means that the total number of people having work and businesses are steadily decreasing which means the lowering of manpower and workforce in the economy. Their deaths affect the GDP of the country by tremendous amounts and if nothing is done the death toll will continue to increase.
The pandemic we are experiencing right now brings upon it a lot of problems. But most of these problems are affecting the economy. And we're not just talking about mere pennies and dimes but we're talking about billions if not trillions of money getting spent because of how bad we dealt with the pandemic was and how severe the pandemic actually is. It is recorded that in the year 2020 we have lost approximately 9 trillion US dollars was lost due to the pandemic. It is without a doubt one of the worst worldwide economic depression that we've experienced to date. And the problem doesn't end with the significant drop of the GDP of the countries. There is also a problem on the Death toll and on how many people are dying annually due to the pandemic. And there are also more problems that are branched to different sections which I cannot thoroughly assess because of the lacking information. But always remember that we will all conquer this problem. Because the power of us human beings is to adapt and change to any circumstance we are given.
Hope is being able to see that there is light despite all of the darkness.
Sources:
WHO Coronavirus Disease (COVID-19) Dashboard
Link: https://covid19.who.int/?gclid=CjwKCAiAt9z-BRBCEiwA_bWv-DA0X7vF17P7VApe_qtQMWzIt5doI6NPo3SHOR0ZSOBQ6HKGXEelJxoCt0cQAvD_BwE
7 charts show how the coronavirus pandemic has hit the global economy
Link:https://www.cnbc.com/2020/04/24/coronavirus-pandemics-impact-on-the-global-economy-in-7-charts.html
The Philippines’ Pandemic Response: A Tragedy of Errors
Link: https://thediplomat.com/2020/05/the-philippines-pandemic-response-a-tragedy-of-errors/
Link: https://en.wikipedia.org/wiki/Great_Depression
Link: https://covid19.who.int/?gclid=CjwKCAiAt9z-BRBCEiwA_bWv-DA0X7vF17P7VApe_qtQMWzIt5doI6NPo3SHOR0ZSOBQ6HKGXEelJxoCt0cQAvD_BwE
7 charts show how the coronavirus pandemic has hit the global economy
Link:https://www.cnbc.com/2020/04/24/coronavirus-pandemics-impact-on-the-global-economy-in-7-charts.html
The Philippines’ Pandemic Response: A Tragedy of Errors
Link: https://thediplomat.com/2020/05/the-philippines-pandemic-response-a-tragedy-of-errors/
The Great Lockdown: Worst Economic Downturn Since the Great Depression
Link: https://blogs.imf.org/2020/04/14/the-great-lockdown-worst-economic-downturn-since-the-great-depression/
Great Depression Link: https://en.wikipedia.org/wiki/Great_Depression
