Are We Arriving In New Horizon Of Uncertainty – Covid19

Corona Virus
Corona Virus

The coronavirus-induced fatalities worldwide reached 298,165 now and the number of infections stood at 4,429,223.

The United States continues to top the charts in coronavirus infections and deaths that stand at 1,430,348 and 85,197 respectively. In terms of the death toll European countries are going through worst time after world war, where major European powers UK 33,186, Italy 31,106, Spain 31,106, Germany 7,861 and France 27,074 Turkey 3,952  casualties respectively Meanwhile, an Italian medical firm has claimed to have developed a vaccine that neutralises the novel coronavirus in human cells. According to tests carried out at Rome’s infectious-disease Spallanzani Hospital, the vaccine has antibodies generated in mice that work on human cells, Italian news agency ANSA stated.

Russia, a major player on the ground of global politics who shares the longest border with China, was reporting comparatively less cases in the initial stage of infection but now cases have been soaring as high as 242,271.

Russian President Vladimir Putin  said that Russia should not rush to lift coronavirus-related restrictions, warning that any haste in removing preventative measures could undo their work so far.

Argentina with 6,879 cases is at default for the third time in the past two decades and joins Lebanon in the list of countries unable to meet minimum financial stability to pay their foreign debts.

There are now more than over 69,707 confirmed cases of coronavirus across the continent, with a number of African countries imposing a range of prevention and containment measures against the spread of the pandemic.

 

According to the latest data by the John Hopkins University and Africa Center for Disease Control on COVID-19 in Africa, the breakdown remains fluid as countries confirm cases as and when. The whole of Africa has rising cases with Lesotho the country holding out as of May 12.

 

We shall keep updating this list largely sourced from the John Hopkins University tallies, Africa CDC and from official government data. The classifications are based on where the countries are located especially in the case of countries that belong to two different blocs, like Tanzania in East Africa, despite belonging to EAC and SADC.

 

In Latin America where numerous countries are already struggling with economic turbulence, fighting with covid 19 on their toe.

 

Number of deaths due to the novel coronavirus (COVID-19) in Latin America and the Caribbean as of May 14, 2020, by country

Brazil 13,240

Mexico 4,220

Ecuador 2,334

Peru 2,169

Colombia 509

Dominican Republic 409

Chile 346

Argentina 329

Panama 256

Honduras 123

Bolivia 142

Cuba 79

Guatemala 29

 

In Asia Pacific region governments are pushing against covid-19, China the origin place of this life thriving disease now seems to control it easily. where South Korea had one of the earliest infections but have been relying on more COVID-19 examination to build substantial health database and It is one of the most successful governments against Covid-19, India with 17.7 % of world population is dealing with this pandemic emphatically with confirmed COVID-19 cases has neared the 78,055 mark including 2,551 deaths and 26,400 recoveries. 49,104 are active. Pakistan with their stranded economic and political havoc having reported 35,298 infections with 761 casualties number may vary due to lack of testing.Bangladesh recorded 17,822 cases with 269 fatalities.

 

In Oceania Australia is dealing with efficiency having reported 6,989 cases with 98 fatalities, New Zealand reported 1,497 cases with 21 deaths.

In Middle East biggest oil producer in region Saudi Arabia have 44830 cases with 273 deaths, UAE with 19661 cases and 203 casualties, Qatar 26539  Oman 4019 cases so why we are noting this statistic……resons are as following:

The price of oil has gone negative after weeks of oil sands output selling for less than a pint of beer per barrel. Banks are preparing for a wave of oil bankruptcies by setting up their own oil companies to operate seized assets. Regulators in Texas are considering setting limits on the state’s production, an approach more reminiscent of Soviet-style central planning than a Republican-controlled regulatory body. An oil company executive just admitted, “No one wants to give us capital because we have all destroyed capital and created economic waste.”

 

And the energy sector’s valuation is shrinking to such a degree that it has become the second smallest segment in the entire S&P index, with its weighting down 80% from a decade ago.

 

All of these developments would have been unthinkable just a few months ago, and yet all are headlines from just the past week in the oil patch. This remarkable shift has implications that go well beyond any near-term damage to the industry’s finances. The change in narrative — from a focus on the industry’s resilience to its fragility — threatens to reframe how the financial community thinks about the future of the oil and gas industry, and even its very investability in a world beset by geopolitical infighting and looming demand destruction from the low-carbon transition. Long after some semblance of stability is restored to the world economy, the industry’s downgrade in investability threatens to be the longest-lasting and most consequential impact of the COVID-19 crisis on the oil and gas sector.

 

Tragic loss of life, and the shuttering of much of the global economy, radical uncertainty is still the best way to describe this historical moment. Will businesses reopen and jobs come back? Will we travel again? Will the flood of money from central banks and governments be enough to prevent a deep and lasting recession, or worse?

 

In this one of the worst phase of calamity mankind ever witnessed where most of the part of the planet stagnated, people are forced by Covid 19 to be captive in their own homes with uncertaintyChina is seemingly taking the advantage of the situation and pushing it’s “Wolf Warriors” to the extent to strengthen the Dragon’s hold on global politics.

Most of the Chinese manufacturing hubs likeThe coastal provinces of Jiangsu, Guangdong, Shandong, Shanghai and Zhejiang provinces are on their roll in full fledge production that amassed

together account for close to 33% of the country’s total industrial output and most of its merchandise export with the value close to $1700B and along with this Chinese armed forces are continuously

disturbing the peace in south china sea.

 

North Korea, an ally of China, has inaugurated a fertilizer factory where some sources suggest a uranium enrichment plant. North Korean army

is exchanging gunfire with South Korea.

 

After long talk on reduction in oil production finally Russia and Saudi Arabia agreed but how far this negotiation would go only future has the answer.

 

This much is certain: The pandemic will lead to permanent shifts in political and economic power in ways that will become apparent only later where two superpowers who has potential to make this world on the ground of nuclear war.

 

To help us make sense of the ground shifting beneath our feet, Foreign Policy  asked nine leading thinkers, including two Nobel-Prize-winning economists, to weigh in with their predictions for the economic and financial order after the pandemic.

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