By, Bamidele Ademola-Olateju

I don’t see any conspiracy regarding this virus. Humans are more aware, because technology has enabled 24/7 information and communication. Easy and affordable global travel has increased human contact and we are more connected economically due to globalization. This is not the first time a pathogen will jump from lesser animals to human beings. This ugly piece of RNA wants to live like we all want to. It is survival. They mutate to evolve, and we evolve too.

That done with, I am afraid of what this will do to the world economy. This is not only China’s wàhálà. It is our wàhálà. United States GDP will be remarkably impacted. It is the reason Trump is in denial. For example; the Beijing +25, Commission on the Status of Women (CSW) may be canceled any moment from now. For this United Nations conference, 7,000 women have registered to participate. Flight tickets have been bought and hotels booked. Airlines, hotels and the city of New York will feel the impact in lost revenue. This conference is one of two global meetings I billed for March. Both are at risk.

Toy manufacturers in America are behind in production everyday. Millions of toys need to be produced daily to meet demand. High end designers of things we wear produce most of their products in China and Italy. Both are impacted. As it is, stores will be in trouble for end of year sales in the United States. Walmart, Target and other stores will be hard hit. In Nigeria, stock of Chinese products on shelves are disappearing. Prices are going up as demand stays the same without commensurate supply. Oil prices are going south in response.

READ MORE: https://thebelltimesng.com/2020/03/02/economic-impact-of-coronavirus-by-bamidele-ademola-olateju/