The coronavirus, which was first detected in China, has infected people over 185 countries. Its widespread has left businesses around the World in trouble.
How has Coronavirus affected the economy and the World since the beginning of 2020?
- Restrictions in traveling. More than 100 countries have travel restrictions because of Coronavirus. In the picture below you can see how drastically the number of daily flights has dropped. (1)
- Car sales in China fell sharply. Over -48% in March 2020.
- Every day we are flooded with negative news related to coronavirus. The pandemic has caused some other effects.Ancillary effects of Coronavirus
- Climate. Research shows that by closing the factories in China in the past 2 months, the sky is almost completely clear again. For example, there is no clothing production, which means that less CO2 emissions are released and people can breathe again. Also, the nitrogen dioxide is less than 30% than normal. (3)
- We consume less. Humans all together consume less plastic, paper, etc. All these aspects contribute in positive ways to the environment. (3)
- Time to re-think financial obligations. Now there is a lot of time to take a deep breath and think. Everyone should re-think their financial obligations in times of crisis. Times like this it is important to have a financial back-up and think about long term goals and objectives and plan in a sustainable way.
- Gold prices have increased. Bank of America has raised an 18-month Gold target to 3000 USD / per ounce, which is more than 50%. Read more: The Fed can’t print gold: Gold to reach 3000 USD, 50% Above Its Record, as per Bank of America