The impact of COVID-19 virus on the world economy

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Author : Janette Shen
Update time : 2020-04-24 12:57:07

The impact of COVID-19 virus on the world economy

The corona virus has disrupted lives and businesses around the world. As the situation evolves, organizations are grappling with new ways of working, right down to how to conduct routine daily tasks.

China is an important hub in the global manufacturing supply chain, and the impact of production stagnation on the global economy is enormous. According to an analysis by the nikkei business daily, for every $10 billion that China loses in manufacturing production, the overall impact overseas is about $6.7 billion.

The spread of the corona virus in the world will have a direct impact on the tourism, transportation and other industries; It has a great impact on pharmaceutical, semiconductor and automobile manufacturing industries with global industrial chain and energy industry with strong procyclicality.

Since the outbreak of the corona virus, medical protective materials around the world such as masks and protective clothing have been in a tight state of supply and demand. At present, some enterprises that were not related to medical protective materials, such as sinopec, foxconn, byd and saic-gm-wuling, have undertaken the mission of cross-border production of masks. Under this circumstances, Vansko has tried the best to solve the problem of looking for the mask suppliers and exporting. Finally, we have successfully expprted face mask to many European countries. 

One world One fight. Unity is strength.


 
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