Everyone has to work together to overcome the financial crisis that is predicted to happen in the global economy under the influence of the Coronavirus. World Bank predicts deep economic crisis in many parts of the world including East Asia Extreme unemployment, poverty, recession can have negative effects G-Twenty Group has pledged cooperation.
As a result of the Corona crisis, many instances of economic crisis are slowly becoming apparent. This time the World Bank expressed particular concern over the situation in East Asia The World Bank fears that economic growth will slow down drastically in China and Southeast Asian countries. With the recession, nearly ten lacs more people could go below the poverty line. The average growth rate in 2019, where the average growth rate was 5.8 percent, is expected to touch 2.1 percent this year.
There is no forecast for the Corona crisis yet. In the near future; efforts to rebuild the economy can be successful if it is possible to deal with coroners through drugs or vaccines. But the World Bank fears the consequences could be catastrophic as the crisis builds up next year. The situation in other regions of the world is also being analyzed gradually, with the prediction of only Asia There is no doubt, however, that the tragic situation in Asia will have a profound impact on the global economy The International Monetary Fund has already announced that the recession has begun.
Despite policy consensus, the division among industrialized countries of the world is not ending. For example, France, Germany and India are currently stopping the export of medicines and medical equipment G-20 has not officially called for the ban to be lifted. The US administration is also pressing for the purchase of drugs and medical equipment manufactured in the only country under the ‘By America’ rules. Many US companies fear this will result in a shortage of medicines. It should be noted that there is a shortage of supply due to the closure of production and supply routes in different parts of the world.
Md Atikur Rahman
Head acting PRD
BUFT
