The Covid-19 pandemic has brought with it a crisis in the health care services sector by overwhelming and exposing the inadequacies of a wobbly health care system. Clearly most countries of the world were unprepared for this novel coronavirus outbreak that has swept across the eastern and western hemisphere with goosebumps rousing terror akin to a hollywood movie. The contagion effect has now been exported to the world economy. Beginning with the shutdown of production in China, then losses in the capital markets and wide range unemployment not much mitigated by the furlough policy adopted by some companies in the UK and US. Governments and central banks have also introduced stimulus packages and lowered interest rates to free up cash for lending by banks. But these measures are only seen as mitigants for a crisis that has already begun. The popular opinion is that we are in for a global recession.
BBC News – Coronavirus: ‘World faces worst recession since Great Depression’ https://www.bbc.co.uk/news/business-52273988
DrAlexanderGrey 