In economic terms, the COVID-19 pandemic began with a supply-shock in China as they were forced to lockdown the Wuhan region. This exacerbated strains which had already become evident in trade negotiations between China and the US, but also revealed weaknesses in the global supply chains.
A kind of ‘Mexican Wave’ has followed, with a variant on the initial supply-shock occurring in successive countries as the virus spreads from region to region and governments responded with lockdowns.
The supply-shock has gone hand in hand with a global demand-shock. Governments and central banks have responded with various stimulus measures and economic relief packages.
To read about the extent of the economic impact of the pandemic, click here: https://transfin.in/the-economic-impact-of-the-coronavirus-pandemic
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