Second wave

 

CORONA-CRISIS
 

                History has come full circle. The global corona pandemic is not subsiding despite the tremendous effort, hard work of medical services and the strict hygiene discipline imposed by most countries. The containment of disease pockets in some countries/regions gave us some hope, but the virus is on the rise again. The delight of the government and the people of China lasted 56 days, during which there was no evidence of new cases of SARS-CoV2 disease. However, we received worrying news in the middle of the month - on June 12th, the Chinese government announced two new cases in Beijing. Over 100 people are currently infected and the numbers are going to increase each day.

                The Fengtai province, where a new pocket of the disease was discovered, has been classified as very dangerous and local schools, supermarkets and settlements have been closed there. The response from local authorities and the central government was immediate, however, when the situation gets out of control, the second wave of the corona pandemic in China could occur, which would endanger the already weakened global economy.

 

 

The question is not "if" but "when" ...

 

 

                The highly concerning question is "not IF, but WHEN" the second wave of illnesses will hit. Scientists agree that the return will coincide with the flu season in autumn. Therefore, the overlap of the second COVID-19 wave with the flu season may create chaos that could be difficult to contain.

                The global economic recession has already occurred. A return to normal from before the coronavirus appears to be very distant. The introduced restrictions almost everywhere in the world to counteract and reduce the effects of the spreading pathogen have shaken the global economy. As economic activities in most industries have been partially suspended, small and medium-sized companies have lost their liquidity resulting in a dramatic increase in the numbers of unemployed people worldwide.

 European analysts confirm that the European Union is entering the most severe economic recession in its history. The forecasts for the future are not optimistic - the economy in the eurozone could shrink by up to 7.7% in 2020 as experts agree - every EU country will suffer a more or less severe economic downturn. The Secretary-General of the Organization for Economic Cooperation and Development (OECD), Angel Gurria, believes that there is no hope of a rapid economic recovery due to the alleged improvement in the situation with the pandemic, Europe rather expects the second wave of diseases.

                European analysts confirm that the European Union is entering the most severe economic recession in its history. The forecasts for the future are not optimistic - the economy in the eurozone could shrink by up to 7.7% in 2020 as experts agree - every EU country will suffer a more or less severe economic downturn. The Secretary-General of the Organization for Economic Cooperation and Development (OECD), Angel Gurria, believes that there is no hope of a rapid economic recovery due to the alleged improvement in the situation with the pandemic, Europe rather expects the second wave of diseases.

                Experts of the Polish Economic Institute agree that the main markets for goods and services have suffered the most from a pandemic. These include Italy, Great Britain, France and Spain. The European economy is expected to fully recover only by the end of 2021, by which time it will be able to offset this year's losses.

                Due to the gradual lifting of restrictions, the economies of European countries are awakening like a bear from its winter slumber. However, a quick return to normal seems currently out of reach.

 

 

 

 

 

 

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