The coronavirus is now testing the global population in ways no microbe has for a century. Much is unknown about exactly how this particular virus causes the disease known as COVID-19, but much is known about how best to stop it. The basic principles of disease mitigation that have worked reliably for millennia—hygiene and social distancing—are no less applicable today.
While the world waits for vaccines and medications, slowing the spread of the new virus is crucial. The more people who are infected at once in a given area, the greater the strain on local health-care systems. When those systems are overrun, people will die who could have been saved in less demanding circumstances. Minimizing that impact requires every single person to take part. Individual behaviors matter in an immediate sense. They matter especially among the demographic most likely to survive an infection—the young and healthy—who may need to pay the closest attention to preventive measures. These are the people who may spread the disease while believing that they have only a bad cold. They can infect the elderly, or people who have chronic diseases or immune conditions, who are less likely to survive.
GLOBAL MARKET IMPACT
The global economy is taking a hit. In the US, 30 million people filed for unemployment in the space of six weeks (as of the mid of April). Economic projections show that the longer it takes for the number of US COVID-19 cases to peak (and the more successful we are at “flattening the curve”), the slower the recovery, with GDP shrinking by as much as 6%.
Across the world, uncertainty around COVID-19 is more than three times higher than with any pandemic in the last 25 years. Historically, this uncertainty has coincided with lower growth and tighter financial conditions. And this impact is already visible in the countries most impacted by COVID-19. From the outbreak’s beginning in December 2019, to the end of March 2020, the Nikkei, Dow Jones, and FTSE 100 dropped by 22%, 24%, and 29%, respectively, with the trend continuing into April. And the Organization for Economic Cooperation and Development (OECD) forecasts a 2.4% global growth in GDP in 2020 (compared to 2.9% in 2019). If the global outbreak is prolonged, OECD anticipates that 2020 growth could be as low as 1.5%.
In Europe, nonessential services that have been closed by the government account for one-third of the region’s output – and each month they remain closed means a 3% drop in annual GDP.
Global foreign direct investment is also projected to decline by 40% in 2020. This could cause lasting damage to global production and supply chains. The World Trade Organization is forecasting that 2020 global trade volume could shrink by 13-32%, compared to 2019. This is expected to impact the availability and prices of goods – like toilet paper, medicines, and laptops. Companies are struggling to acquire the raw materials for their products, as well as get finished products to consumers worldwide.
The extent of the global market impact depends on how quickly the international community can mitigate the spread of the virus and reboot their economies. And so will the recovery of the hardest-hit industries, like travel, tourism, retail, and hospitality.
That’s why we at Bixo Trade have decided to take things forward at a slower pace. We have provided WFH to all our employees and limited registrations only to our pre-investors. Thankfully because of our Bixo Bots and professional team of traders we are able to run our operations to our investors same as before. Unfortunately, people who want to join in during this pandemic have to wait for a few months until the pandemic effect is at its peak. We have limited our registrations to a hundred members per day, that means a maximum of hundred Pre-investors can join our platform in a day. When the platform detects that registration of 100 members has reached then the register page will be made inactive. This will help us, the Bixo Team as well as the pre-investors to take the benefits of Bixo Trade during this pandemic as well without any discomfort.
In the meantime, as we navigate through these challenging times, we’re reminded of how fortunate we are to be part of this strong community that supports each other to accomplish great things. It is the power of this community that will propel us through this to better times.
On behalf of all of our tram at Bixo Trade, we wish you, your teams and your loved ones health and safety.