Catastrophe gives many a
chance to rise from the ashes and tumble others into the black pit. Opportunity
lies in the chaos and one should hold its nerves to apprehend it. As a coin has
two sides, adversity comes with two faces. It is oddly true; it is all about
adopting the situation and exploring the best out of it.
The world economy is
shrinking to its worst amid COVID-19 (coronavirus). Mighty industries are now
on their knees and at the brink of collapsing. The pandemic outbreak, which
originated in China, is affecting monetary sectors from every possible
direction. According to Bloomberg:
“Coronavirus
Could Cost the Global Economy $2.7 Trillion.”
Traveling industry, hotel
industry, food chains and stock markets facing a constant decline in their
business. International sporting events are either being canceled or postponed.
The economy is following the economic cycle and this cycle will bring the crippled
economy to its former glory. As one side of seesaw lifts the other side, this
ongoing recession will result in the boom of many other businesses. But the
game is no more conventional, where we would be reviving the economy by towing
it in a different direction. This economy now needs a different dimension
rather than direction.
Governments are financed by big enterprises, in return governments support them by making amiable laws and a friendly business environment. United States of America is named as a superpower of this globe and is backed by numerous gigantic monetary fishes, but China being her competitor was emerging like a dawn and a lethal threat to her crown. As government monetary arms are now being cut short by the COVID-19, will there be room for any third party to jump into the circus of superpowers? Will the world will be seeing a new crown holder after this pandemic or USA will continue to reserve this throne?
Coronavirus outbreak
raised countless question marks on the existing system, one of them is, will
this catastrophe result in a shift in might or this dark cloud will not affect the
power ranking of the countries? Let’s dig deep into it and discover more angles
of this likely scenario. USA is facing a record-high unemployment trend
in the past few weeks, which will shrink business operations on her turf. It’s
an undeniable fact that this virus will affect our lives at least for the next
ten years, which means it will not be a piece of cake to recover such a dent.
This will benefit many other awaiting eagles to step into a hunting ground to
claim their economic territory.
After World War II
and during the Cold War, the USA and the Soviet Union
dominated world affairs. At the end of 1991, when the Soviet Union
dissolved, only the USA emerged as a superpower. USA is ruling
for more than seventy years and now she is threatened by an unseen foe. The war
against this virus is very delicate, but it could cost superpower a setback.
Post to this chaos a new era will begin and time will project the answers of
such speculations. For now, this risk is floating over superpower and change in
might is in pipeline.
(ABDULLAH HAMEEDI)
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