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Global economy after COVID 19 outbreak

Two nations were fighting, resulting in a trade war primarily deriving from the extreme
protectionist nature – to protect two fighting nations’ economy – ranging from raising traffic to
increased protection policy. World Bank, in a published report, mentioned an imminent global
recession emanating from this battle, a factor that was aiming at retarding the unleashed Chinese
economy. But an asking has appeared and this is nothing but the revival of global economy.

The largest exporter has already shut down the whole nation, a factor that has a significant
impact on countries relying on china for raw materials: for example, 90% raw material of our
medicine industry rely on China. So, the aphorism “don’t keep all eggs in a single basket” has
appeared to be true indeed. Countries, heavily depending on China, will seek for alternative
source. Apart from this, countries should realize the significance of 4th industrial revolution,
primarily emphasizing on the application of artificial intelligence.

On the other hand, middle has always been one of the pivotal part of global economy but
infected with diseases including Iran crisis, Gaza crisis, Syrian refugee issue and so on. Perhaps
this outbreak will diminish earning of the USA, by cutting its revenue coming from weapon
business and the USA will put more emphasis on research and development.

As China has already ameliorated its current condition, it is expected China will revive its
economy with its aggressive nature of production and investment. With its sophisticated research
team, China will seek much faster growth by means of increasing production capacity, higher
application of artificial intelligence and mass change in govt policy.

Countries, like Bangladesh, should not only seek alternative source, but develop a self-sufficient
economy also. Moreover, concentrating on assuring required medical facility is a must because
an economy, keeping its driving force vulnerable to contagious disease is also vulnerable.

Finally the outbreak has reduced traditional banking transaction, so a change is imminent in this
field, creating more reliance over online transaction, a factor that will require more vigilance in
cyber security. Last but no least, we own a planet only; expected are sustaining growth and peace
between conflicting nations.