COVID-19 against the global economy: where is the risk?
By 2020, all countries of the world will face unprecedented challenges. COVID-19 (novel coronavirus infection) The side effects of the pandemic and its consequences, as well as the measures taken to control the spread of the disease, have a major impact on the lives of most people. The economies of all countries are in great shock and, in general, the world economic system is going through difficult times.
The global economy is collapsing
According to international professional organizations, the consequences of the COVID-19 pandemic can be very serious, if not significant, for many sectors of the global economy. Between the peak of the epidemic and the most stringent quarantine restrictions, the decline in GDP in various states ranged from 5% to 40%. This is a very serious damage which cannot be recovered immediately.
The biggest losses were suffered by representatives of small businesses. These businesses and businesses have fairly limited turnaround times and must continue to survive, that is, to work, increase sales, and grow. Even a few days of enforced shutdown is a big setback for such a business, but with weeks or even months of downtime, business termination is almost certain.
To tell the truth, it is important to note that the governments of most of the world powers, including Australia, have not left their businessmen to their own devices due to the problems caused by the coronavirus and the blockade. A program to support SMEs has been developed and successfully implemented. “Credit holidays” have been introduced and other support has been provided. These measures can help save those SMEs that have been blocked from bankruptcy. Most of them could float.
What do you think is the relationship between SMEs and the global economy? However, there is a connection and you can run it immediately. In the modern world, everything is inextricably linked, with low-selling businesses being one of the foundations of the economic well-being of developed countries. The drop in their income is followed by a drop in taxes collected by the state, a drop in the purchasing power of the population and a drop in the market. What is most annoying is that these processes are interdependent. In other words, problems in one area cause problems in another area, resulting in an endless vicious cycle that is very difficult to break out of.
The extent of the loss suffered by the quarantine restrictions across the global economy can be gauged by looking at the stock chart. All the major indices of the biggest stock exchanges fell sharply during the pandemic. Many businesses and businesses have lost huge sums of money.
Many people around the world have lost their jobs and their incomes have dropped dramatically. The state has committed off-budget spending aimed at strengthening health care and supporting citizens and businesses. This global situation is historically unprecedented. In the past, humanity has never faced such a large proportion of crises.
What’s in store for us?
Analytical institutions specializing in economics are quite cautious when it comes to forecasting. According to some reports, it can take up to 5 years to recover from the pre-COVID-19 pandemic condition. Also, depending on the country, it may take longer. The world economy is too complex to repair losses quickly with minimal loss. This will require a significant fiscal investment and the joint efforts of all world powers to remove the effects of. Blockade, The decline of the industry and the stock market crisis are unprecedented.
The time it takes for global economic activity to resume depends primarily on medical factors. The coronavirus, COVID-19, has been studied so far. The media are actively discussing the new strains of the virus and a new wave of epidemics is expected. The government is doing everything to stabilize the situation, but these measures are having a negative impact on the economy. It should be understood that restoring the proper functioning of the financial system is conditional on controlling the virus and reducing the burden of disease to an acceptable level. This result is the best way to ensure that your financial efforts are not wasted.
Did it really affect everyone?
Despite the devastating damage and aftermath of the first wave of the pandemic, not all industries suffered significant losses. The most affected are:
- Food service industry – Restaurants and cafes lost customers during the blockade.
- Sports clubs and fitness clubs – I had to suspend my work because of the same prohibitions.
- The manufacturing business has been completely or partially closed.
- Travel agencies – All tour operators have been banned from visiting many countries.
- Shopping malls and entertainment centers – This was one of the first facilities to be banned from visiting as public gatherings.
- Cinema – The screening has been canceled. At best, he was allowed to occupy a quarter or a third of the seat.
- A shop that sells basic necessities.
These are just a few of the areas that have been seriously affected. As expected under the Market Economy Law, SMEs were hit the hardest, but large companies were able to mitigate the impact to the detriment of internal financial reserves.
However, several sectors of the modern economy experienced significant growth during the pandemic. This can be explained by the nature of the activities of the affiliates. Here are some examples:
- Online Store. For obvious reasons, people have started to buy more products online. In addition, there are many related options available today.
- Grocery delivery service. Convenience, fast order processing and low cost service appeal to consumers.
- Manufacturer of durable consumer goods, household appliances and electronic devices. Many believed that these products would soon become expensive and decided to buy them in advance. This has increased demand and sales volume.
- Online entertainment. All types of online gaming and subscription streaming services have grown significantly due to the significant increase in the number of users.
- A game of chance accessible via the Internet. There are a lot of new players in online casinos. The activity of regular players has increased. They spent more time in the gambling establishment’s online room. This leisure activity is a great way to have a good time, forget about your daily worries, and perhaps improve your financial situation.
Australian Online Casinos – What’s Popular?
Every Australian who has internet capabilities and wants to enjoy a gaming experience has a variety of options. A modern playing field can meet all the tastes and desires of the player. You can add hundreds of different features to a website Slot machine, Card games, roulette and other gambling activities. In addition to the obvious safety of catching the coronavirus, online facilities have many important advantages:
- Availability from any networked device at any time.
- Possibility to play for free using a special demo mode. For those who are not familiar with the game Free Online Slot Machine It’s a great way to learn and avoid the basics of a particular slot machine. Experienced players can use free games to develop winning strategies.
- A variety of entertainment is offered. Hundreds of available games of chance are common in modern Australian online casinos. At the same time, you can switch between different emulators within seconds.
- Convenience of financial regulations. There are a number of ways you can debit your account and withdraw your winnings, including popular bank cards, e-wallets, and other payment systems. Many Australian online casinos not only accept Australian dollars, but also currencies and cryptocurrencies from other countries.
- Generous bonuses from the best people Australia Online Casino New players can be reassured on unfamiliar websites. In addition to the welcome gifts, other incentives are also available – a percentage per deposit, free spins for being active, bonuses for regular players, etc.
- It is important that each player receives a full answer to questions about the rules of the game, conditions for participating in events, withdrawal procedures, etc. Online casinos that respect visitors always have customer support services. We resolve issues 24/7.
Considering the above benefits and others, it’s no surprise that more and more Australians prefer to spend time during quarantine restrictions in the comfortable atmosphere of popular online gaming facilities. The best platforms always play fairly, so they follow the rules outlined and give every player a chance to win. And although the prizes are regular hits and these prizes are small to medium in size, the luckiest players do hit the jackpot multiple times.
Which Australian casino do you choose to play at?
On the other hand, the answer to this question is simple. The management must perform in a reliable and honest facility that creates the best conditions for enjoyable entertainment. But another question arises – how to find such a casino? We recommend that you use multiple methods at the same time for a successful search for the right platform.
- Personal experience. Most modern internet gaming platforms have the opportunity to understand some of the website functionality before registration, such as how to navigate the website, how to deposit and withdraw funds, read the rules, play the slot machines. under in free demo mode, etc. Offers.
- Opinions of other players. It can be easily found in specialized forums of popular social networks and among the general public.
- Ratings of installations regularly edited by professional analysts. These ratings are based on a full survey and comparison of various online casinos.
One of these reputable websites publishes gambling site reviews that are worthy of highlighting. The 10 best establishments in 2021 are:
- Ilucki Casino;
- Bitstars Casino;
- Kahuna Casino;
- Casino Playamo;
- 21 Dukes Casino;
- Joe Fortune Casino;
- Casino-chan Casino;
- Grand Rush Casino;
- Casino Casino;
- Ignition Casino.
New players will be offered a generous bonus for registration and first deposit. Experienced players will surely love the progressive loyalty program, which offers significant rewards for each level reached.
COVID-19 against the global economy: where is the risk? Source link COVID-19 against the global economy: where is the risk?