The world is going through another trying time with the outbreak of Covid-19 also known as the CoronaVirus. For those of us who don’t know what this virus is, the proteins surrounding this virus is shaped in the form of a crown which is where it derives its name from since the latin word for crown is corona. Generally viruses only attach to where they have receptors, this means that a virus can only begin to cause an infection when it gets in contact with any part of the body where its receptors are present. For covid-19, the receptors are found in the respiratory tract which consists of the upper respiratory tract (nostrils, esophagus) and the lower respiratory tract (lungs). This is the reason why medical practitioners have advised that we try not to touch our face,nose, mouth e.t.c so that even if you get in contact with the virus by any chance, you don’t unknowingly convey it to where its receptors are present.
Nonetheless, it is still very unclear to me why this virus has come into existence but my assumption is that some scientists and maybe global authorities might have a cogent answer to that. An answer to why a large part of the global population has been put into a panic mode without knowing what exactly will happen next. Well, while we are still waiting for them to tell us how we found ourselves where we are (if they ever will), I will like us to take a logical and critical look at some of the direct impacts of the spread of this virus in a social, environmental and economical sense.
As of the time this post was created, more than 127,000 cases of people infected with the virus have been reported with over 5000 deaths but at least we are thankful that majority of the those infected have fully recovered and tested negative to covid-19 infection. Social gatherings and events slated to happen in areas where the virus has been confirmed to be present have been cancelled. Most nations have banned travels from and to countries/regions with high numbers of people infected. Retail stores and supermarkets majorly in the west are fast running out of supplies because people are buying as many house supplies as they can from them. The reason for this unusual act is that some people intend to remain in doors so they reduce the risk of getting the virus while some others worry that supermarkets will run out of supplies due to all the travel and trade restrictions. Either ways you can’t blame the people since drastic times call for drastic measures. Everything just seems to be affected.
Oil prices are down to prices that won’t be forgotten in years maybe decades, the financial markets have literally turned into a bear market and crashed so low enough to make investors panic. The richest black man on the planet Aliko Dangote was reported to have lost approximately 240 Billion Naira (670million US dollars) in 5 hours. The Chinese economy is projected to record the highest loss for a quarter in the last 3 decades in this first quarter of 2020. And the economic loss impact goes on and on and on. Literally it seems everything and everyone is affected one way or the other. But who knows, some might not be affected.
Now let’s come back to China where the supposed virus and plague has broken out from. Over the last few decades, the Chinese economy has grown tremendously and China has served as a hub for most global manufacturing. The reason why this is so is another discussion entirely but I am sure most of us know the reasons why this is so. China in recent years has become the world’s largest economy and in 2018 had a GDP of 25.2Trillion Dollars compared to the USA’s GDP of 20.4Trillion dollars. The Chinese economy was also projected to witness more than double its growth in the next decade and by 2030 is projected to have a GDP of about 64.2Trillion Dollars which will be double the GDP of the world’s second largest economy by 2030. Without a doubt, China would have solidified its position as the largest economy in the world. With the obvious competition going on amongst world powers (whom I like to call the big boys), it is safe to conclude that not everyone or every country is excited about the rate of growth and progress of the Chinese economy. At least in my point of view. All of a sudden, here comes the Corona (Crown) Virus and about 760 million people in China have been forced to lose productivity and stay at home. I know some people will argue that the virus shut down is affecting other countries too but my question for such people is that wouldn’t it be too obvious if only china were affected by the corona virus?
Lately, manufacturing and supplies of many global companies such as Apple have been stunted and many countries are also affected because of the huge dependence on China as a manufacturing hub for one or more raw material. Some companies even have their manufacturing completely based out of China. Just like the old proverb that says you shouldn’t put all your eggs in one basket, what this means in effect is that global companies and countries whose dependence on China has tremendously helped to facilitate the growth of the Chinese economy will now undoubtedly begin to diversify their manufacturing so they can rely less on China. The same sort of diversification approach will happen for countries (especially African nations) who have ongoing projects that are solely dependent on China. This system effect will create a direct impact on the Chinese economy and create a slowdown in the growth of the Chinese economy. Isn’t it interesting.
The consequences of the corona virus whether intended or unintended are enormous. Probably more than the human mind can phantom but I am not in any way insinuating any cause in this post but rather using this as a medium to open our inner minds to the possibilities of actions, reactions and the outcomes that may arise. And of course spark meaningful discourse and conversations amongst us the people. Finally, please let’s make sure we always wash our hands often (even after the virus is gone) and stay safe until the passing away of the mysterious covid-19 is confirmed.