Post COVID-19; The Big Picture-II


Muhammad Ijlal
The outbreak of corona virus epidemic may be a convenient opportunity to setup a new world order. In
current situations china is playing primary role in dealing with the virus across the world and west itself
is seeking help from China. “At this point, the world faces something new. Most recessions have
confined themselves to be one continent or tow. But globalization – particularly the rise of China , has
seen trade , migration Tourism , dissolve national and even continental borders”; said The Guardian. As
airlines and factories close down round the world, oil price falls to half to its peak. The recovering China
is going to be first and largest beneficiary of decreased oil price. On the other hand many of US
economists are feeling critical for US oil industry. “The Corona virus crash was fast and hard. The
recovery will be slow and uneven”; says the Washington Post. According to the New York Times ; “in
most of possible cases of upcoming economic hit, the results would be surpassing numbers during the
great depression”. US stocks are seeing the worst falls since 1987, facing worse consequences than
China. If crises continues for a longer time the sick economies wouldn’t be capable to recover and will
seek financial assistance from the recovering China. As the West itself seeked financial assistance from
china after the financial crises of 2008. Lets see what will be the upcomig picture.