MUHAMMAD NADEEM BHATTI
World economies de pend on healthy minds and bodies for that cleanliness and healthy environment is necessity to generate it positively the human cost of the Covid-19 outbreak is climbing across world. The economic cost is also mounting, mainly, but not only, in China. That is damage, for the most part, not due to the virus itself so much as efforts to prevent it spreading. There are strict restrictions on moving out, where the outbreak began, a city with a population of 11 million city of China. The lockdown, also now extended to other parts of Hubei province, prevents business-related travel as well as the movement of goods and workers. Fear of the virus also means many people will choose to avoid activities they think might expose them to the risk of infection. So restaurants, cinemas, transport providers, hotels and shops are all quickly feeling the impact. And the timing of the health crisis, during the lunar New Year break, means those industries have been particularly exposed to commercial losses. The New Year holiday was extended for a few days by the national Chinese authorities and there have been longer extensions imposed by some provincial authorities, delaying the return to work for some businesses even longer. Any delay resuming production and selling goods is likely to lead to cash-flow problems, especially for smaller operations. Many companies will have to continue paying bills, including employees’ pay. And for manufacturers selling goods abroad, there may be some issues with buyers becoming more reluctant to buy from China. Herbert Wun, who owns Wing Sang Electrical, which makes products such as hairstraightness and blow-dryers in Guangdong province, officially said the many companies would not have much slack to take this kind of impact, coming, as it did, on top of the USChina trade war. And the epidemic “will add to the pressure on customers trying to shift their supply chain away from China”. International retailers have closed operations in China – the furniture seller IKEA and the coffee shop chain Starbucks, for example. Several overseas airlines have stopped flights to China and international hotel chains have been offering refunds. And beyond that, there is growing concern about integrated international supply chains. China has a much bigger role in these networks than it did at the time of the last major health problem that emerged from the country – the severe acute respiratory syndrome virus 17 years ago. Hyundai, of South Korea, has suspended its car production because of problems with the supply of parts from its operation in China – an early warning sign of possible extensive disruption ahead. China is an important supplier for the global motor industry and the electronics sector. Many renowned mobile phones company depending existing by Chinese economy and so many good but low price computers are made in or buy China or at least have components manufactured there. There Financial markets worst damage by their business and also felt the horrible effects in their Business due to this health crisis which is increasing rapidly. Although it is recoverable but due to low standards of living hoods in these suffered countries people cannot make the good standard due to poverty and passive policies of health toward humanity. Stock markets around the world are lower than they were two weeks ago. China’s market fell 8% on the first day of trading after the holiday. There has been a particularly marked impact on the prices of industrial commodities, as China is such important buyer. Crude oil hit its lowest level in more than a year. It has dropped by about 15% in the past two weeks, reflecting declining demand from China – underlined by reports the country’s leading refiner, Sinopec, is cutting back. A group of oil exporting nations is considering production cuts in an effort to reverse the price fall. Copper is also cheaper – by about 13% over the past two weeks. It is an important material for the construction industry, which is also sure to be affected in China. Many of the suppliers of these commodities are emerging and developing economies. It is early days to attempt to quantify the likely economic effects. Much will depend on how well the Chinese authorities are able to contain the virus. But some forecasters have made rather tentative efforts to put some numbers on the impact. One example is the consultancy Oxford Economics which predicts the Chinese economy will grow less than 4% in the first quarter of 2020 from a year earlier. For the full year, the forecast is average growth of 5.6%.For both figures, the previous, previrus forecast was 6%.It also expects the global economy to grow severly less – by 0.2 – than it would have done otherwise. According to Oxford Economic Council this is all based on an assumption the “worst case scenario” will not be avoided. So there is a risk of the economic damage turning out to be more severe by the passage of time and existing covid-19. With disaster of health being face by the world to save people at their best there is easy solution to keep people in home isolation and total lock down on outdoor movement and economic existence. By this situation the chain of economy has taken a slump. So economic powers are fully disturbed by the social lockdown although it is in the favour of community. According to my global assessment standards of living hood and survival of lives always depend on land cultivation but in these areas where the prohibited unhealthy things are made able to serve the people by making that tasteful and to run their business with different unhealthy ethics. People introduce those things which are not according to the health and body standard of humanity. The negligence of local food department and their checking standards give results of damaging the health of community so in this result the people whom exist trough low resistance power they suffer a lot when we go through these type of people working behind any kind of industry the people work very close to each other and even use their thing jointly and they have get together so this type of virus moves rapidly and not even damage a single person even a family which consist on seven to nine members most probably contain on two aged and three younger people they take the adoption of these types of virus from those working house members from them which they work for a community or industry. In the result of get damage they will not only play the game of death even plays the vital role to burst an existing world economy. Moreover, Pakistan economy cannot bear lockdown as much as far. So to competitive health policies deserve to be given to take restart of economic momentum of trading market. —The writer is an entrepreneur & senior social economic analyst. He can be reached at [email protected].
