The second wave of covid-19 has left the world with more shudder and anxiety. Light has affected almost every field of society. The covid-19 has its effects on the economic condition of the world as well. The research studies show that it has made the world economy to be more different between the rich and poor, more than ever before, which will eventually lead to the potential damage of the overall global growth. As more and more people are diagnosing with covid-19 every day, the World Health Organisation has warned that many infections are increasing in parts of the world, especially in India, with its covid cases going up steadily and the countries like Brazil, Turkey, and Argentina. However, Europe has relatively fewer covid cases as of now.
The Second Wave has More Challenges.
The rebound of covid-19 has affected both the developed and developing nations in many ways, and especially, the developing and emerging countries are going through a lot of challenges lately. The countries like India- being the sixth-largest economy- are threatened by the worse changes happening in the present days. The continuous rising of the new covid cases shows that these situations are not likely to be over in the near time. People should understand that it persists longer than they think and should be aware of all the precautions they could take to overcome it.
The Rate of Vaccination Around the World
Talking about the vaccination rate across the world, more than 944 million vaccination had been administered in about 170 countries, data collected by Bloomberg recently. This calculates to about 6.2 % of the global population. Also, there is a distinction between the higher income countries with that of the lower-income countries in terms of their vaccination dosage offering to its people, and the major reasons are described as follows:
- According to recent research studies, the higher-income countries are getting vaccinated 25 times faster, to be specific, than the lower-income ones.
- This scenario, and the historical virus outbreaks, like that of the Spanish flu in 1918, all points towards the fact that no matter where the virus had first emerged, it always affects the lower-income markets or the developing countries whatsoever.
They will take a big time to set things back to work they ever before the pandemic, even after the pandemic completely goes off.
The Future has Become Uncertain
The Future has become so uncertain in the present days with the outbreak of the second wave, which is more vigorous and dangerous than the first one in every way. When to start a business or program, productivity, to mention the loss, is still undergoing planning and is not likely to be presented now in any parts of the world, especially in the Asian countries. The people have a heart time to call it a day as a day since many challenges are pointing towards them from here and there. The new covid 19 cases striking upwards swiftly pose a great threat to the global growth, in general. Also, the sad but the truth is that the longer the pandemic takes to heal itself and cures, the more difficult the condition of Global growth in the Future.