Abstract
The impact of the epidemic on the global economy has exposed the fragility and complexity of the internal and external economic system, and the global economic situation is not optimistic. Taking the epidemic as an example, this paper analyzed the impact of emergencies on the global economy from multiple perspectives. The outbreak of the epidemic has made most offline businesses shut down overnight. At the same time, it has also led to the rapid development of online economy, such as online education, home office software, video entertainment and so on. The outbreak and spread of the epidemic has promoted the digital upgrading of all walks of life, including online government affairs, commerce, science, education, culture and health organization, operation and maintenance. The era of digital economy has come, and digitization is the general trend.
Highlights
Under the background of novel coronavirus pneumonia, the economy has entered a technical recession and the macroeconomic situation is more complicated
For the convenience of research, it can be divided into three concepts: liquidity crisis, financial crisis and economic crisis [2]: liquidity crisis mainly refers to the destruction of cash flow statement and the depletion of cash flow; financial crisis mainly refers to the destruction of balance sheet of financial system; economic crisis includes recession The former is usually accompanied by the decline of macroeconomic indicators such as GDP, employment, investment expenditure, capacity utilization rate, household income, corporate profits and inflation, while the rise of bankruptcy unemployment rate generally refers to two consecutive quarters or more of negative economic growth, while the economic recession lasts longer and the decline of economic activity is greater than any other
Under the background of stock market crash and market liquidity depletion, the central bank can import liquidity to correct the deviation of the market from the macro-economy, protect the cash flow statement, avoid the bankruptcy of banks and financial institutions, block the transmission of liquidity crisis to financial crisis, and protect the balance sheets of enterprises and families
Summary
Under the background of novel coronavirus pneumonia, the economy has entered a technical recession and the macroeconomic situation is more complicated. For the convenience of research, it can be divided into three concepts: liquidity crisis, financial crisis and economic crisis [2]: liquidity crisis mainly refers to the destruction of cash flow statement and the depletion of cash flow; financial crisis mainly refers to the destruction of balance sheet of financial system; economic crisis includes recession The former is usually accompanied by the decline of macroeconomic indicators such as GDP, employment, investment expenditure, capacity utilization rate, household income, corporate profits and inflation, while the rise of bankruptcy unemployment rate generally refers to two consecutive quarters or more of negative economic growth, while the economic recession lasts longer and the decline of economic activity is greater than any other. Retail sales of consumer goods and fixed asset investment are on the rise, the sustained weakness of domestic demand and the coming global economic recession may restrict economic growth in the second half of 2020 [3]
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