The COVID-19 pandemic has spread globally with alarming speed, resulting in most nations closing their borders to ward off the disease. This has drastically affected the global economy, supply chain and travel. China, the largest exporter and the second largest importer, was first affected. With the country imposing lockdown to contain the infection, the economy suffered. This led to a cascading effect on global economies.
And though we now see China recovering, the outbreak has registered exponential growth in other parts of the world. Hence, China’s resumption of economic activities is likely to be nullified by lockdowns & restrictions being imposed elsewhere, resulting in economic disruption from the demand side. Additionally, the outbreak has also led to changed behavioural dynamics from consumers, workers and employers globally.