How Other Countries are Handling COVID-19

Joji K., Staff Writer

COVID-19 has set the US into a lockdown and has steeply hindered the production of many goods. Many have lost jobs during this economic crisis, and others are forced to work from home. However, many countries are handling this crisis differently than the United States.

  • China, for example, is in a relatively similar state to the U.S. China’s lockdown has led to many steep drops in production for factories, retail sales, construction, etc. China’s government debt may not allow them to recover from the economic damage caused by the virus.
  • Germany, unlike China, likely has the funds necessary to bail themselves out of this crisis. They have kept their finances in check recently. Germany’s chancellor, Angela Merkel, said: “We’re doing whatever is necessary.” Germany is prepared to spend aggressively to get the country into an economically stable state.
  • The United Kingdom appears, economically, to be handling this crisis particularly bad. Several economists predict that it could take a 5 to 10 percent cut out of Britain’s economy in 2020. Amongst this national emergency, the British Treasury has pledged to pay for 80% of workers’ salary for a time, to help companies avoid massive layoffs and risking the survivability of those companies.

The coronavirus has set the world into a state of panic, and many countries are handling the crisis differently. The virus will cause much deficiency among economies worldwide.