The Economic and political Impact of COVID-19 on global trade on

these three main economic groups:

Consumers, Producers, Government

Covid 19 has impacted on each and everyone’s daily life, more specifically stopped or
slowed own everything. It spread faster mentally than it did physically. Covid was first
identified in Wuhan, the capital of China’s Hubei province.
Corona virus has affected people’s lives in multiple ways but mostly it has affected on their
mindsets and how they look at the world or what they believe in. People tend to consume a
lot of internet when they have free time, and the pandemic has provided them with it. The
consumption of internet has increased by 40% after people have been forced to stay at
home. The internet is not the only thing people have consumed a lot after this huge
pandemic. Consumers’ adaptations to online shopping, which are accelerated by the
pandemic, are not likely to end or reduce after the COVID-19 passes. It tends to be
substantially more economic and convenient, it also provides with a flexibility in terms of
time, location, and product variety. Consumers who live through pandemic might be
changed, and the changes can be long-lasting even after the pandemic passes. According to
a recent survey, 46% of respondents plan to reduce spending during the pandemic although
demands increased for specific categories, including groceries or household supplies,
discretionary spending is expected to decrease as approximately 60% of respondents plan to
cut spending on consumer electronics or vehicles. People nowadays prefer to buy products
in a whole amount for a month or more rather than buying small amounts every week
because they want to be prepared for a lockdown that could happen anytime.
Covid 19 boosted the production for many different products like masks, toilet papers,
basically all the daily need supplies and alcohol too. It slowed down the production for
various products like vehicles, electronics, furniture, etc. e-commerce started to rise and
small producers started to introduce their products through networking, most of the e-
commerce producers made a lot of profit through it. Corona virus have significantly affected
the small scale workers in the sea food sector as they had no other source of earning and
barely surviving their daily needs.
The impact of the COVID-19 crisis and related policy responses (e.g. public health measures,
lockdowns, emergency economic and social measures) on subnational government finance
is significant. A June-July 2020, a survey jointly conducted by the OECD and the European
Committee of the Regions with 300 representatives of regional and local governments in 24
countries of the European Union indicates that in the short and medium terms most
subnational governments expect the socio-economic crisis linked to COVID-19 to have a
negative impact on their finances, with a dangerous "scissors effect" of rising expenditure
and falling revenues.
Covid made the whole world shake, it destroyed countless families and ruined people who
weren’t able to survive the fall. People weren’t able to return back to their families because
of the closed airlines, It was a disaster but 80% of the population adapted to it.