How has the COVID-19 pandemic impacted the world economy?
A) The estimated losses for 2020 are greater than 10 per cent of the total world GDP.
B) Many African countries dependent on income generated by resource exports, could lose tens of billions of dollars.
C) Developing countries will experience substantial declines in trade, investment, and tourism, resulting in an economic recession in the Global South.
D) Both B & C
E) All of the above

Question

Quizplus · Accepted Answer

The COVID-19 pandemic has had a profound impact on the world economy, affecting various sectors and regions differently. While the estimated losses for 2020 being greater than 10% of the total world GDP might be an overestimation for some analyses, the pandemic has indeed caused significant economic disruptions globally. Many African countries, which rely heavily on income from resource exports, have faced substantial financial losses. Similarly, developing countries have experienced significant declines in trade, investment, and tourism, leading to economic recessions in the Global South. Therefore, all the options provided reflect aspects of the economic impact of the COVID-19 pandemic.

How Has the COVID-19 Pandemic Impacted the World Economy