The world after the end of the Corona pandemic is going to be very different, as the financial losses and operations to close the huge and restrict the movement represented many unprecedented challenges that will push many countries and governments as well as individuals and companies to reconsider their economic behavior after the end of the Corona crisis. No one can tell how the features of trade and economics will be after the end of the Corona pandemic. Questions abound about the future of economics.
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World Trade Expectations
The decline in global trade movement will range between 13% and 32% for this year, the situation at the beginning was just a health crisis and governments were forced to take quick steps to preserve human life and these steps have a great return to commercial movements, both domestically and globally. In addition to human suffering as a result of the disease itself, the report indicated that the rate of decline has reached 13%, which reflects a sharp decline that will be followed by a recovery starting from the second half of 2023.
Corona’s Impact on Global Trade Movement
Reducing cargo ships between several countries and China to reduce the spread of the new Coronavirus through its services, which would disrupt global supply chains.
According to the United Nations Conference on Development and Trade, eighty percent of global trade is transported by sea, and China alone has 7 ports.
Ships that break down in quarantine areas, where many countries refuse to allow ships coming from affected countries to enter them before conducting checks on all their crews and making sure that they are free of the Coronavirus,
Many companies have also stopped their production to reduce the spread of the Coronavirus.
World Trade Organization Forecast for 2023
A significant decrease in the global trade volume for 2023 up to one third as a result of the spread of the Coronavirus, due to the suspension of most factories, and thus the decrease in the production rate in addition to stopping the transfers, whether air, sea or land, to reduce the spread of the Coronavirus around the world. Many countries have been affected by the Corona pandemic and entering a state of economic stagnation.
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