There is no doubt that the Covid-19 has severely damaged several economies, most especially the developing ones. But what is the actual impact it brings? First of all, this will fall on the potential short-term disruption and the immediate action applied by the government as well as the private sector. Basically speaking, it focuses on mobilizing public resources in augmenting what private citizens do to help those who are vulnerable to the situation.

At the same time, it is to work on national macro-economic levers in an effort to sustain businesses and discuss international creditors regarding rescheduling, cancelling or repayments of some debts.

Uncertainty of Information

At the time of this writing, it’s still blurry how long the infection would last; if there’s going to be another wave; how many more would be infected and how many will catch mild or serious symptoms. One thing’s for sure and it’s that there is no accurate number of people who will recover and cases for fatalities related to the virus.

This is somehow caused by insufficient data information, particularly from developing countries that usually lack of testing facilities and partly, most victims might have preexisting conditions and establishing the main cause of death is hard.

On the other hand, we have to stay positive and have strong belief that the outbreak would already run its course just as any other pandemics the world has faced. Resources are being strategically allocated in curing the sick and ill, both private companies and the government are working hard in finding cure as fast as possible, improving diagnostic testing and developing a vaccine.

Learning from History

Aside from that, lessons from the past pandemics and from current pandemic sourced from South Korea, Singapore and China regarding early containment as well as social distancing are now majorly implemented in various countries. There’s a lot of international cooperation on all elements too. given that all countries cooperated and taken the right steps, the number of reported deaths can be significantly smaller compared to 3 great pandemics of 20^th century which is the Hong Kong Flu in 1968 and Asian Flu in 1957 to 58 that killed 1 to 4 million people each and lastly, the Spanish Flu in 1918 to 1919 that took the lives of over 20 to 50 million people.

Your Move

There’s little doubt that the Covid-19 outbreak will result to a big cut in international trade due to the fall of global demand, which can impact both investments and consumptions. Sectors like tourism, construction and travel will be taking huge blow. If your business or career is in this sector, then it is probably the best time to seek for alternative ways of making money.