Isaiah 41:10 – Fear thou not; for I am with thee: be not dismayed; for I am thy God: I will strengthen thee; yea, I will help thee; yea, I will uphold thee with the right hand of my righteousness.
The situation presented unprecedented challenges for public health, food systems, and the labor force. In the COVID-19 crisis, issues related to food security, public health, and labor–particularly workers health and safety–converge. In the response to the COVID-19 pandemic, we summarized the socioeconomic impacts of the new coronavirus COVID-19 on different aspects of the global economy. In response to The COVID-19 pandemic, we summarise the socio-economic effects of the novel coronavirus COVID-19 on individual aspects of the world economy. We highlight the effects of novel coronavirus COVID-19 on the main sectors, including industries involved in raw materials extraction, the second sectors, involved in finished products manufacturing, and the third sectors, including all services-providing industries.
The impact of various pandemic conditions such as SARS (Cov-1 and Cov-2), H1N1 influenza or swine flu and the current Covid-19 case on the economic growth of capitalist countries (comparative analysis of CME and LME countries) has been examined and recommendations for financial recovery have been made. COVID-19 has exposed, intensified, and reinforced existing social inequality. The pandemic, and various measures taken to combat it, have led to disparate mental health outcomes. COVID-19 and COVID-19 responses affected different populations differently, frequently exacerbating existing structural disparities in income and poverty, socioeconomic disparities in education and skills, and generational disparities–with specific impacts on children (including vulnerable children), families with children, and youth.
2 Timothy 1:7 – For God hath not given us the spirit of fear; but of power, and of love, and of a sound mind.
It shows COVID-19 has generated a range of social, economic, and cultural impacts, with lasting impacts. By amplifying the fundamental inequality in resource allocation, the socioeconomic dislocations caused by the COVID-19 response are likely to have adverse effects on the long-term health and wellbeing of individuals. Governments should adopt policy measures to cushion the economic impacts of COVID-19, which will hit low-wage workers first and hardest.
Adhering to workplace safety and health practices, and ensuring access to decent jobs and the protection of labor rights across sectors, will be critical to dealing with the human dimensions of the COVID-19 pandemic. If left unaddressed by policies, the social crises created by the outbreak of COVID-19 could also exacerbate inequalities, exclusion, discrimination, and unemployment globally over the medium to long-term. Only by working together can we address the intertwined health, social, and economic impacts of the COVID-19 pandemic, and avoid it from spiraling into an extended humanitarian and food security disaster, at risk to reversing the gains made so far for development.
1 John 4:18 – There is no fear in love; but perfect love casteth out fear: because fear hath torment. He that feareth is not made perfect in love.
It has become critical to become a part of a global digital push for better socioeconomic outcomes, and mitigate the effects of Zika virus via digitalization. The pandemics impacts are likely to raise the economic costs across countries and widen inequality globally (20). In particular, an economic shock is likely to increase the degree and severity of poverty globally50, either from the direct effects on health, employment, and income or from the disruption of supply chains and global trade51.
As a consequence, for LMICs, an economic crisis triggered by COVID-19 could be just as significant of a public health and social catastrophe as the pandemic itself. The approaches used by national statistics agencies and researchers [e.g., (12)] to document economic losses due to COVID-19 in industrialized countries cannot easily be implemented in LMICs.
These findings suggest that economic effects produced by exogenous shocks in one region may impact other regions, and thus, this study suggests that policy coordination across regions is needed to mitigate the economic losses from the lockdown. Although the present study uses the intra-firm supply chain within the country and examines the economic effects of prefecture-level lockdowns, our findings could be applied to the effects of nation-level lockdowns that are propagated across international supply chains. In practical terms, the findings from this study suggest that a region with many small- to medium-sized suppliers of materials and simple parts should exercise caution about lifting lockdowns, which might not yield large economic benefits, but might nonetheless contribute to COVID-19 transmission. Some have investigated the spread of the lockdown effects associated with COVID-19 across regions and countries, and estimated total effects using country-sector-level input-output (IO) links (Bonadio et al.
Proverbs 29:25 – The fear of man bringeth a snare: but whoso putteth his trust in the LORD shall be safe.
Abstract To stem the spread of COVID-19, many cities, states, and countries-imposed lockdowns, limiting economic activity in sectors that are not critical. Flattening the spread of an uncommon disease using a lockdown allows the healthcare system to manage the illness, then allows the resumption of economic activities. Lockdowns, one of the restrictions on social isolation, were observed to prevent a COVID-19 pandemic, and in this study, it was shown that coronavirus spread could be greatly reduced with a lockdown. The magnitude and seriousness of the COVID-19 pandemic obviously rose to a level as a threat to public health, which might warrant restrictions of some rights, for example, the restrictions that come with the imposition of lockdowns or quarantines, which restrict the freedom of movement.
The recent Covid-19 virus outbreak illustrates how easily infectious diseases can spread because of an open economy and can easily threaten a nation’s economic stability. Youth are crucial in restricting virus transmission and COVID-19 outbreak impacts to the health of populations, societies, and economies. COVID-19 has had a large disparate impact depending on where people in the UK live, the education they receive, their socioeconomic status, and the health of those around them. The COVID-19 economic crisis has hit the poorest people, and those from the most socially vulnerable groups, disproportionately hard.
Philippians 4:6 – Be careful for nothing; but in every thing by prayer and supplication with thanksgiving let your requests be made known unto God.
Because the models from this study did not include how lockdown strategies affected COVID-19 transmission, and because it is not clear how to balance the tradeoffs between human and economic losses in order to maximize societal benefits, we cannot definitively draw conclusions about whether a lockdown should be enforced or lifted.