It is becoming clear in a horrifying manner, the damage created by Corona Virus . The Supply Chain, globally is getting snarled , there is shortage of labour, shutdowns, extended holidays and an increasing death toll.
Since childhood, it was evident to me that China is one of the largest manufacturers of the world, and a Royal Bengal Tiger of global trade.
To state the impact of the outbreak of the virus, Corona , I would like to mention a few facts and figures which we all should be aware of :
1 Authorities have locked down a region from central China, Wuhan, the point of outbreak.
2 China's 300 million migrant workers, which sums up to two fifth of the labour force have got reasons to travel to distant cities .
3 The packaging industry is almost shut down because of the outbreak of the virus.
4 Shenzhen, a hub of electronic factories in Hongkong , issued new rules that factories that made IPhone and apple products have to meet them before opening as a part of their safety guidelines.
I feel that the impact hasn’t crippled yet the economy totally and China has to fight it out like a trade war within its own economy to regain the smooth state. World Health Organization as a part of its contribution landed up in Beijing to work with Chinese Researchers to fight the virus. With the rate of infection soaring high, the global trade and it's own economy should be kept under constant vigil. Labour force should be made more aware and campaigns should be issued at every manufacturing or production unit with an ongoing research on the root eradication of the virus
Ripples in other countries .
As forecasts predict a sharp fall in production from cars to smartphones , Japan's Nissan said it would close down their plant there due to shortage of parts to be supplied from China . The German makers of Mercedes cars have reported about the impacts in their production units situated in China. American businesses are trying to steer away from China and reducing the out sourcing .
As a citizen of India, I can see the country getting shaken from the same outbreak and taking precautions.. Thermal screening has been set up at 21 airports in India to check for CoronaVirus . India is experiencing a heavy impact on trade in various industries like pharmaceuticals, electronics, mobiles and autoparts.
As a PGDM student and being aware of the current issues ,I feel the ripples of Corona Virus have created a cold space in the global economy and needs to be addressed aggressively.
PGDM Batch 2019-21