Shirshak Dutta
This time the corona virus hit the stock markets of the world. Bombay Stock Exchange from
the beginning of the week was in downtrend. With the opening of the market on Friday,
Sensex fell by more than 1100 points. About 350 points was lost by Nifty. In this time Indian
economy is also effected by the Delhi Riot and a large financial depression due to government
inefficient planning. So, there is a chance of other influences to reduce the market. But whats
about the global market? All stock markets of the world was crashed last week.
Investors fear that the outbreak of corona virus could take the form of epidemics.
So they are withdrawing their invest from various projects, this is why the market is started
to crash. Last day China, Japan, South Korea also suffered heavy losses in the stock market.
The Olympic Games are scheduled to be held in Tokyo, Japan this year. But it was rumored
that it could be canceled because of Corona. Japan's index Nikkei fell by about 3.3 percent
this day. In all, the corona virus has spread a terror throughout the world market. Some of
the economist and business analyst considered this crash is the largest crash after 2008
global financial crisis. Now two significant questions are arrived. One, are we going to enter
an another recession after 12years? Second, is it possible any terrorist organizations or
unethical government to kill men using bio-weapon?
Now one can imagine that a virus or a biological thing is harmful for economy. But this is
partially true. Though there are some examples like this, but overall the biology always helps
the economy to grow. World's earliest economy was totally based on biology. Agriculture or
livestock were the only product to trade. The industrial revolution in England was also based
on cotton, which is the pillar of Textile Industry.
The modern economy is also heavily rely on bio related product or service. The development
of biotechnology and bioinformatics brings a rapid change in bio industry. The market size
of modern bio based fertilizer, medicine, pesticide are rapidly increasing. Health Sectors provide
one of the largest part of GDP. I just forget to tell about the foods.
The whole world is scared about the spreading of corona virus. This virus not only effect the economy,
this also hit the normal lifestyle of the human too. Now the world is also waiting to recover from this.
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