The Economic Impacts of Coronavirus COVID-19 on the Global South

Abstract

The coronavirus outbreak has rapidly escalated into a significant global economic risk, the viral outbreak has been seen to pose a major destabilising threat to the global economy. The spread of the virus is causing disruption of global supply chains, volatility in financial markets, consumer demand shocks and negative impact in key sectors like travel and tourism. It also represents a serious mounting threat to the fragile Chinese and global economies.

We can’t ignore the fact that the outbreak of COVID-19 in China is expected to have a significant impact on the economy globally including economic slowdown, trade, supply chain disruption, commodities, and logistics. And also The Coronavirus (COVID-19) has resulted in mass production shutdowns and supply chain disruptions due to port closures in China, causing global ripple effects across all economic sectors in a rare “twin supply-demand shock”, This research paper explains the impact of COVID on the global economy, then the countries of Asia, Latin America, Africa, Nigeria, and India, and how to deal with this crisis.