Answer to Question #252887 in Management for chena

Question

It is worthy to mention that the case study is taking place at times where Covid 19 pandemic has become a national challenge and that the local authorities are about to activate restrictions on movement of the public to decrease chances of viral spread.

Answer 1

Discussion

Corona-virus disease 2019 (COVID-19) is defined as illness caused by a novel corona-virus called severe acute respiratory syndrome corona-virus 2 (SARS-CoV-2; formerly called 2019-nCoV), which was first identified amid an outbreak of respiratory illness cases in Wuhan City, Hubei Province, China.^ It was initially reported to the WHO on December 31, 2019. On January 30, 2020, the WHO declared the COVID-19 outbreak a global health emergency.^ On March 11, 2020, the WHO declared COVID-19 a global pandemic.

According to the case study done by US, they found that Covid 19 has negatively affected the economy. The pandemic has disrupted lives, pushed the hospital system to its capacity, and created a global economic slowdown. The pandemic has created a demand shock, a supply shock, and a financial shock all at once (Triggs and Kharas 2020). On the public health front, the spread of the virus has exhibited clear geographic trends, starting in the densely populated urban centers and then spreading to more-rural parts of the country.

The COVID-19 crisis has also had differential impacts among various racial and ethnic groups. Inequities in the social determinants of health, income and wealth, health-care access and utilization, education, occupation, discrimination, and housing are interrelated and put some racial and ethnic minority groups at increased risk of contracting and dying from COVID-19. The COVID-19 crisis also led to dramatic swings in household spending. Retail sales, which primarily tracks sales of consumer goods, declined 8.7 percent from February to March 2020, the largest month-to-month decrease since the Census Bureau started tracking the data (U.S. Census Bureau 2020a). 

In addition, case study done by China found that COVID-19 has disrupted the global economy, and in particular international trade. While the number of Chinese and global corona-virus infections rose rapidly during the first quarter of 2020, new export orders declined by as much as 50% for both goods and services during this time (WTO 2020). Chinese exports suffered the first blow, declining by around 17% in January and February 2020 relative to the previous year and remained depressed throughout the first half of 2020 as global infections soared.

In conclusion, Covid 19 is really bad, it has affected almost everybody across the world and has made so many people jobless.

Reference

Douglas, M., Katikireddi, S. V., Taulbut, M., McKee, M., & McCartney, G. (2020). Mitigating the wider health effects of covid-19 p