Syed Tahir
The Global outbreak COVID-19 so called “Invisible Enemy” is more catastrophic than the Second World War. As the developed nations of the world are facing the full brunt of the disease, developing countries are yet to arrive at the point where they are overwhelmed. In the beginning of this ongoing month, the Secretary General of United Nations Mr Antonio Guterres Said “The COVID-19 pandemic is the biggest challenge the world has faced since the Second World War.”
The Novel Pandemic COVID-19 first emerged in Wuhan city of China in December, 2019, is threatening lives and livelihoods across the World. More than 180 countries have fallen sick from virus illness, while almost 1, 780, 714 cases has been reported globally and so far 108, 837 peoples have lost their lives due to this Global Outbreak. Countries around the world are implementing measures to slow the spread of coronavirus, from national quarantines to school closure. More then third of the Planet’s population is under some form of restriction. Many countries have imposed Lockdowns due to this Pandemic.
Fear abounds regarding the Novel coronavirus pandemic and consequences. There are increasing numbers of conformed deaths. These numbers are expected to surge when indirect costs due to lost productivity and comorbidities are taken into consideration. In recent weeks, we have seen the significant economic impact of the coronavirus on financial markets and vulnerable industries such as manufacturing, tourism, hospitality and travel. Travel and tourism account for 10% of Global GDP and million jobs are at risk worldwide.Global tourism, travel and hospitality companies closing down affects SMEs globally. This, in turn, affects many people, typically the least well-paid and those self-employed or working in informal environments in the gig economy or in part-time work with zero-hours contracts. Some governments have announced economic measures to safeguard jobs, guarantee wages and support the self-employed, but there is a lack of clarity in many countries about how these measures will be implemented and how people will manage a loss of income in the short-term.
The economic fallout of the outbreak could trigger a recession of unprecedented scale, as up to 25 million jobs could be lost globally as well as a 40% reduction in global foreign direct investment flows. According to World Economic Forum “The shock to the global economy from COVID-19 has been both faster and more severe than the 2008 global financial crisis (GFC) and even the Great Depression. In those two previous episodes, stock markets collapsed by 50% or more, credit markets froze up, massive bankruptcies followed, unemployment rates soared above 10%, and GDP contracted at an annualized rate of 10% or more. But all of this took around three years to play out. In the current crisis, similarly dire macroeconomic and financial outcomes have materialized in three weeks.”
International cooperation has become necessary for the nations across the globe, to defeat the Coronavirus pandemic -an invisible enemy. For that, states are taking diverse measures ranges from domestic to international level, to win the war against the said disease. No doubt, big motives demand courage. Since observing the first coronavirus case in the country, Pakistan has been taking serious measures to deal with the COVID-19. Pakistan’s response to the COVID-19 has been acknowledged as ‘World’s Best’ by the country head of World Health Organization Dr Palitha Gunarathna Mahipala. She stated ‘At a time when other countries were reporting cases, Pakistan was keeping the virus at bay, which is something quite praiseworthy.’
But now Pakistan’s COVID-19 patients’ number stand at 5,038. Pakistan in on the brink and there was s a tight rope in front of weak economy. The year ahead is perhaps the most formidable challenge the country has faced, and one that will require resilience, competence and discipline, the other side of the question, if we fail, is worse than our darkest nightmares.