Economic Crises and Population Extinction

The Lab creation of pandemic (Corona Virus) awareness was first raised by Chinese ophthalmologist Li-Wenliang in Chinese province Wuhan. On December 30 2019, Wuhan CDC issued warnings to local hospitals about a number of mysterious “Pneumonia” cases .Li-Wenliang who worked at the central hospital of Wuhan, received an internal diagnostic report of (SARS) Severe Acute Respiratory Syndrome patient from other doctors which he in turn shared with friends than on Chinese social media platform and got the name “whistleblower”. As soon as news spreads all over china Wuhan police summoned and admonished him on 3rd January, 2020 for making false comments on the internet about unconfirmed SARS outbreak. Later it came to know that it is not SARS but a new outbreak of Corona Virus, SARS-Cov-2. Li returned to work and later got infected with covid-19 from the patient who was not known to be infected and died on 7 February 2020 at the age of 33. All this frame has taken his life to aware others about the pandemic or his life was taken by anonymous person. In another stunning revelation, a Chinese virologist Dr. Li-Meng has claimed that Corona Virus was created in a government controlled Laboratory in Wuhan, the original epicenter of the outbreak and offered scientific evidence to back her claims. She also reported to her supervisor who was also the (WHO) consultant but no response came. Instead she was warned to keep silence or else she would be made disappear, she said in her report.As we all had witnessed and as well as going on the huge massacre which is led by this Lab created Corona Virus by China. Hundreds and millions died, just because by the unquenchable thirst of so called China to become the super powerful country or to be emerging as superpower status.
By means of the extinct population of other nations which have the skilled workers especially of developed ones like USA. They want to increase the demand of their work force all over the world and to emerge as a global leader. Especially when they have the skilled workforce at cheap rates than domestic ones. And this will ultimately drain the wealth from other nations. As strongly had implanted the extra tariff rates over Chinese imports by the Trump administration which began in early 2018 which involves the implementation of tariff rates in series of rounds. Which has caused china to pay billions of dollars towards the tariffs. This thing had created more fair among the Chinese producers because the Chinese products where being more expensive than domestic ones and relative put pressure on Chinese producers and which results in lower demand of their products. The US goods trade deficit with china was $345.6 billion in 2019 which decreases to 17.6 %( $73.7 billion) after the tariff had put in place by the Trump administration of US. This so called fight to achieve a superpower status had triggered the situation more which had emerged in biological warfare. In consequences of this Lab created virus The Whole World has become the pool of infection like as: in (US, cases 3.27cr and deaths 5.81 lakh), (in India: 2.23cr cases and deaths 2.42 lakh), (in France 57.7lakh cases and deaths 1.06 lakh), (in Turkey 50.2lakh cases and 42.7 thousand deaths), (United Kingdom: 44.3 lakh cases 1.28 lakh deaths) and (Pakistan 8.58 lakh cases and 18.9 thousand deaths) which counts over 15.7cr infections and 32.7 lakh deaths. Due to aimed Corona Virus every country had went to lockdown process. And this part has the more dire consequences because of the fall down of various Economies all over the world. By taking the example of China’s neighboring country India. The covid recession had made the bent on the back of Indian Economy. Due to this lockdown thousands had lost their jobs and it is estimated that 10.8 million people had lost their job which nearly counts the 63% of total job percentage As estimated loss due to lock down doubled to $234.4 billion and Barclays has cut its growth forecast for India to Zero percent for Calendar year 2020. As by the GDP fell down by -24% as per official statement.This was not only case with the India like Korea in the second consecutive quarter of 2020 it has seen the decline of -1.3% in GDP, it was the lowest performance since last 22 years. Japan in 4th quarter of 2020 GDP of japan had shrink by 7.1% to cover this they had raised the consumption tax rate from 8%-10% despite the opposition from citizens. New Zealand: GDP decline or contraction was 12.2% in the 2nd quarter of 2020 and has experienced unemployment rate of 13.5%. On 14th may 2020 Singapore Airlines posted its net loss $732.4 million in fourth quarter and property investment sales fell to 37% about $3.02 billion. United Kingdom: The Bank of England declared that economy could shrink 30% in the first half of 2020 and the unemployment rate was likely rise to 9% in 2021. House hold spending fell to 41.2% in April 2020. Middle East: the Economy of World’s largest oil exporter, Saudi Arabia, faced a deep recession, due to pandemic. In the second quarter Saudis economy shrank by 7% hitting both oil and non-oil sectors. Besides that unemployment rate hit a record of 15.4%. As well as the US had fall in the Economic crises. A record of 3.3 million American filled for unemployment insurance and that spread the gap further to 6.9 million in the 2nd quarter of 2020. The contraction of US GDP at 4.8% and this contraction had not been seen by the US since World War II. There is a proverb in English,” What goes around, comes around” same happened with china. Research shows that the potential loss of air transport industry in the first quarter is about 4.1 billion Dollar. There was fall in GDP in the first quarter of 2020 -6.8%. Acc. To survey report of Institute for Supply Management, nearly 75% of companies have experienced supply chain disruption due to lockdown. The manufacturing sector of china had faced a contraction of both supply and demand in February, making the manufacturing PMI drop to 13.4% and Non-manufacturing sector fall down to 24.5%. As well as 5 million people had lost their jobs and much more. Economists had warned that economy would not be able to return to pre-pandemic levels without the wide spread of a vaccine.
(Author hails from Tral and is pursuing his master’s in Economics at University of Kashmir. Views are his own)
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