The COVID-19 Pandemic may affect the world more than the Great Depression or World War II did.
We may be headed for another version of Global shutdown like the Great Depression. The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States. The timing of the Great Depression varied across nations; in most countries, it started in 1929 and lasted until the late 1930s
With the COVID 19 pandemic, more countries are likely to shutdown and close borders, hurting the movement of goods and services across borders. Food stuffs will be scarce and businesses are likely to shut down operations. Countries will rely on their internal market and source of consumer goods, which is very easy to exhaust.
Quality of life is going to be compromised, social service mechanisms will break down, crime may go high in developing countries, and people are going to lose hope in life.
In the end, we may see very ambitious measures to contain the virus, as some countries may opt to send those infected into “early retirement” with the hope of clearing chances of further infections.
Now, imagine a world where goods and services are not allowed to cross borders. Citizens are encouraged to only consume what is produced within, public institutions are not allowed to operate. Like schools not opening for more than 6 months. Big businesses toning down their operations and temporarily sending some of their workers home. People who depend on daily or monthly income (who are the majority) not being able to earn for six months. People not able to fellowship under their religious denominations for six months, and the like.
In the case of Uganda, where no case has been recorded so far, school, Universities and tertiary institutions have been closed down for the next 32 days. What this means is that the workers in these institutions (save for the government run institutions) may go without salary this month, the bar attenders and those working in other entertainment places may not earn too. Once Uganda confirms any cases of corona Virus, this period may be extended, and more measures may be employee, including a total shut down of the economy.
It is not a common practice by most of us to save for emergencies like these. Most of us can only live for not more than two months in absence of our regular income. This is dangerous, and may force us to look for dubious means of survival 😂
At the global level, some powerful economies may take to the stage to blame the possible architects behind the saint virus. It is even possible to realise World War III if we are not careful.
What the world needs now, is unity and cooperation. We need to unite in purpose now more than ever before. We must fight this thing together, and defeat it for our own good.
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