The pandemic has hit worst not only health but almost every sector and aspects of life. COVID-19 norms, restrictions and fear have made rippling effects in the world economic landscape. Among may, COVID-19 catalyzed a big shift in stock market that ultimately reflected adversely in value of pensions or individual savings account. Except China that registered 2.35 growth in 2020, a global recessions has hit hard with increasing rates of unemployment almost all sectors. Travel, tourism, hospitality and consumer centric industries have witnessed negative growth worldwide. In contrary, digital technology, biopharmaceutical industries have registered unprecedented rise that clearly indicating shape shifting of world economy.
We should brace for the changes and help rebuild an economy that is sustainable for the entire population.