Many people living today have most likely survived a pandemic after the outbreak of swine flu being as recent as 2010, and AIDS remaining a problem to this day. However, the pandemic, caused by a coronavirus disease, has been the most life-changing for countries all over the world. With its spreading power and the necessity for global self-isolation, COVID-9 has had an enormous effect on all individuals. The purpose of this paper is to outline the impacts this disease has had on people.
COVID-19s Effect on the Economy
The area of life that has been most affected by the current pandemic is the economy. Many industries are experiencing a loss of revenue due to the quarantine and a general unpreparedness for a problem of this scale, in particular the manufacturing, wholesale trade, and tourism industries (Devon 3). However, a bigger problem is the fact that the lack of a vaccine and the continuous rise of the number of the infected make it hard to evaluate to what extent the economy will suffer. Many individuals are also experiencing a loss of income as not all workplaces and jobs allow for a working from home scenario, which is shedding light on how vulnerable the economy actually is.
COVID-19s Effect on Peoples Happiness
While many people are facing financial troubles due to the pandemic, a higher percentage is finding it emotionally draining. Families are experiencing situations where they have to compromise with each other in order to maintain a good atmosphere. People who live alone are finding themselves virtually cut off from the rest of the world, which makes it harder to satisfy ones needs for social interaction. Most individuals are experiencing cabin fever, which is further complicated by the fact that getting help for ones mental health is almost impossible in the current quarantine.
Conclusion
The COVID-19 pandemic has affected almost all areas of life from a whole nations financial situation to an individuals mental state. It has also shed light on how unprepared countries, industries, and the general public are to an epidemic of a disease. One of the biggest problems id that with no vaccine having been developed, it is hard to estimate when the pandemic will come to an end.
For many people, the current pandemic caused by the coronavirus is the first such disease epidemic in their life. Several other similar events have happened in the 21st century, including the bird flu and the ongoing AIDS epidemic (COVID-19: How does coronavirus compare to other outbreaks?, 2020, para. 2). However, the current state of the world is unfamiliar to many individuals. This perception is achieved due to the viruss high spreading power, the necessity for global quarantine, the asymptomatic nature of the disease, and the sheer amount of countries affected. All these particularities result in false or misleading information about coronavirus , including from medical professionals, and many people not knowing which sources to trust (Suciu, 2020, para. 1; Ritchie, 2020, para. 1). This is further complicated by different countries enforcing different rules on their citizens and many not practising evidence-informed decision-making (Tyler and Rose, 2020, para. 1). With no cure having been yet created, it is unknown for how long the pandemic will continue. The purpose of this paper is to look at the way the world has been dealing with COVID-19 and what the current plans for facilitating the situation are.
The Asymptomatic Nature of COVID-19
One of the biggest obstacles in stopping the spread of the coronavirus is its asymptomatic nature that makes it hard for each individual to assess whether they have been infected (Qiu, 2020, para. 2). The percentage of people who tested positive for the coronavirus but showed no signs of being a transmitter has been as high as 50% in some countries (Plater, 2020, para. 3). This is further complicated by the fact that the symptoms, typically stated by medical professionals, can be attributed to other illnesses like the flu (Rettner, 2020, para. 7). Most governments do not provide enough funding for a necessary amount of tests that could ascertain the number of the infected (Thompson, 2020, para. 3). This knowledge could also facilitate the social distancing rule as there will be the option of quarantining only the sick.
The Necessity for Social Distancing and Quarantine
Most countries with a greater number of infected individuals and deaths due to the SARS-CoV-2 virus have enforced a state of quarantine and restricted travel. However, while these measures were an obvious tool for slowing down the spread of the disease, most nations did not resort to it quickly enough as they initially seemed intent on playing down the scale of the threat (Branswell, 2020, para. 49). This decision resulted in significant influxes in the numbers of infected with the coronavirus and pressured leaders of those countries to enforce even stricter bans on travel and social gatherings (Lee and Cher, 2020, para. 6). This could have been avoided if the initial response had been to adequately assess the situation instead of hoping the problem would solve itself. For instance, South Korea was the country with the third-highest number of people infected with the COVID-19 only several months ago as a result of its proximity to China. However, due to the nations quick response to the growing epidemic and contact tracing, the authorities managed to flatten the curve on COVID-19 in 20 days without enforcing extreme draconian measures (Woodward, 2020, para. 4). Unfortunately, for most countries that waited to implement social-distancing, including the UK, success will have to be achieved through other means.
First of all, the authorities need to specify what quarantine entails as the guidance currently lacks clarity and specificity with regards to recommended behaviours (Options for increasing adherence to social distancing measures, 2020, p. 1). This lack of specificity leads to misinformation, and many people not following the set rules as the definition gives room for interpretation. As a result, the effect of quarantine on flattening the curve is nullified.
Secondly, it is essential to note that social-distancing is mostly a class privilege. In most countries, many lower-income workers continue to move around, while those who make more money are staying home and limiting their exposure to the coronavirus (Valentino-DeVries, Lu and Dance, 2020, para. 3). With this in mind, these nations typically propose some form of financial relief, for instance, stimulus checks in the US (Terrell, 2020, para. 2). However, there are reports that as many as half of the applicants have yet to receive their promised money. The people still waiting on their check include low-income families who dont normally file tax returns, people who receive Supplemental Security Income, and some veterans who receive pensions from the federal government (Lobosco, 2020, para. 2). Therefore, the individuals most in need of financial aid during these times, receive no help from the government.
Thirdly, it is essential to understand when and how quickly to weaken the ban on social gatherings. Many medical professionals who understand the severity of the problems were hesitant to advise the implementation of social distancing. The reason for this reluctance was the fear it would be unsustainable for a long period and would lead to a more disastrous second wave of infection (Wickham, 2020, para. 4). Therefore, it is vital to navigate the delicate ethical balancing act of reopening society while safeguarding the health of the public (Matthews, 2020, para. 2). The governments need to ensure that everything returns to how it was before the lockdown without starting a second wave of infection.
Conclusion
The viruss high spreading power and the asymptomatic nature of the disease have resulted in the disease affecting almost all of the worlds countries. The situation is worsened by the slow responses of the governments that prioritized economic prosperity and blind faith over the health of its citizens and scientific research. The nations that best handled the epidemic were the ones that made vital decisions in accordance with real data.
The COVID-19 outbreak was a sudden and terrifying experience for all people around the world. I remember telling my friends that the virus would not last for a long time and that we would all meet after two weeks of self-isolation. I did not know how far it would go and what changes to my life it would bring. Sitting at home and watching the news about millions of infected and fatal cases made me realize how fragile human life is. The pandemic has both positive and negative effects on people and their businesses. This paper addresses these effects and provides my experience of the COVID-19 healthcare crisis.
The virus that is still ongoing has taught a valuable thing for all of us that is being able to adapt to rapidly changing circumstances. You will never know what is waiting for you in the future, and you should be flexible and calm enough to embrace the new reality. At the beginning of the pandemic, it was fun to sit at home, watch TV series and chat with my friends. Yet, after some time, I realized how my mental health was going downwards as I started to feel anxiety about the world and my future. I also felt very sorry for people who lost their close ones because of COVID. However, I somehow managed that stress due to mental health support, podcasts, and books. I realized that being able to adapt to a changing reality is the only way to keep doing daily routines. At a country level, countries were also adapting and making new policies, and I think now many political figures are more flexible being aware of sudden changes. There were too many mistakes to realize the importance of effective and fast decisions that take into account todays reality.
One more positive thing about the pandemic is that people learned the value of family and socialization. People cannot live alone, and they need someone to rely on and care for. During the pandemic, I was with my family, and I think it was the first time interacting with them so closely. We were discussing the situation and sharing personal concerns a lot, so that I could understand my family more and support them. I was also worried about older members of the family, thinking that I did not appreciate time with them before the pandemic. It made me reconsider my family relations and understand that they are my close ones, and I should dedicate my time to them more. I assume this was a great lesson for everyone, and I hope people would value their families and take care of them.
One of the crucial changes that the COVID-19 outbreak brought to us is online education. I did not know how to assess such kind of education as positive or negative as there are many arguments for each side. Personally, I liked the online mode of the studies because I could also register for other courses provided for free by different universities and platforms like Coursera. I also learned how to manage time properly as the increased number of assignments forced me to do so. Yet, many students did not like online education as we could not focus well on our studies. People live in different conditions, some of us did not have personal space for studying while others did not have time for education. Education is indeed a privilege, but the online mode made it even worse. Moreover, I heard that in some countries, students climbed on trees to have access to the Internet and do their homework.
The COVID-19 crisis increased inequality across the world and had a negative impact on the world economy. People in developing countries did not have proper healthcare services and tools for online mode of working and studying. Many people lost their jobs, being unable to sustain their families. Such conditions raised crime rates, unemployment rates, and global hunger, putting many countries in a hard socio-economic situation. Furthermore, the virus split people into two categories of supporters of vaccination and those who are against it. This division between people caused social disturbances that made the healthcare crisis turn into an ideological fight. People were making up some stories regarding the COVID-19 and not contributing to the solution of the outbreak. In my opinion, such a response of the public is expected as the general mass wanted answers that government officials did not have. As such, the government should be very careful on how to communicate with citizens.
Overall, there is much to say about the effects of Covdi-19. For me, it was an experience of taking care of my mental health and being close to my family. For the world, it has resulted in disrupted economies, increased inequality, and loss of lives. I hope the crisis made people rethink their lives and be supportive of others. I also believe that the world would not be the same after the end of COVID-19 if it actually has an end.
The coronavirus pandemic has forced millions of people around the world to start wearing protective masks. This need appeared because airborne droplets actively transmit the virus, and through masks, people seek to protect themselves from infection. Wearing masks is a necessary means of protection against the spread of various viruses, including coronavirus infection. This problem was chosen for research because people still reacted differently to the obligation to wear respiratory protection. Although the effectiveness of masks to protect a healthy person from infection from the outside has not been proven, masks help carriers not to infect other people, and when properly worn and put on, they increase the likelihood of not getting infected.
Importance of Face Masks
In their study, Ricky Tso and Benjamin Cowling, researchers at the Department of Psychology & Psychological Assessment and Clinical Research Unit, and the authors of the article Importance of Face Masks for COVID-19: A Call for Effective Public Education discuss the issue of the obligation to wear masks. The researchers claim that wearing masks is mandatory for employees of medical institutions and all people (2). There are cases of asymptomatic carrying of the disease, which does not affect its carrier but is actively transmitted to other persons (Coronavirus Pandemic). Tso and Cowling cite statistics relevant for 2020, which indicates that more than 4 million people were infected and more than 280 thousand died (1). Citing these statistics, the authors are probably trying to demonstrate the need for people to wear masks to protect themselves and others.
The article concludes with information from microbiology sources about which virus transmission channels exist. In addition, the authors demonstrate the effectiveness of introducing a mask regime and quarantine on the example of several countries in which the spread of coronavirus was significantly less harmful than in the rest. The article is quite informative and helpful, as it describes the practical benefits of wearing masks and provides convincing facts in favor of this decision of the heads of state.
The following article that demonstrates the need to wear masks was written by Raina MacIntyre, PhD, and Jay Hasanain, MD, and is called Community universal face mask use during the COVID 19 pandemicfrom households to travellers and public spaces. The opinion of these authors should be considered authoritative since they are Doctors of Sciences and have been working for a long time to study the spread of infection and preventive measures against it. In their study, the authors cite the Centers for Disease Control and Prevention, where records were published about the need for hand hygiene and not about the need to wear masks at the beginning of the pandemic (1). Such propaganda did not have sufficient effect, and the infection continued to spread.
However, by adding to hand washing, wearing respiratory protection in the form of masks helped reduce the spread of coronavirus infection, which was transmitted from an infected person to a healthy person in crowded places. The article was written in 2020, but the recommendations for choosing the material of masks and their disinfection remain relevant to this day and will be applicable until the virus is completely eradicated. With their research, the authors seek to prove to people that wearing masks is an essential attribute in protecting against the disease. The information presented in the article is important for conducting further research on the topic I have chosen, as it gives clear instructions on wearing masks to prevent the spread of coronavirus.
The following article written by Luciano Bubbico et al. is called Community Use of Face Masks against the Spread of COVID-19 and tells about the transmission of coronavirus infection and measures to protect the population from it. The researchers are employees of various medical institutions, and therefore the information described in detail in the article can be considered reliable. The article was written in 2021, which means that it is as relevant as possible. The information presented in the authors work is crucial because it sets out methods of individual protection against the virus, thereby helping to understand how each person can escape from infection and prevent the spread of disease from a sick person to a healthy one.
The authors describe in detail the penetration of the virus through the nasal cavities with warm and cold air. Bubbico et al. it is claimed that inhaling air filled with virus particles is the leading cause of infection. The mask protects against disease in the nose and its spread through the human body. The authors noted that some psychological and social aspects harmed people, and therefore they do not want to wear masks, explaining this by the fact that this attribute is ineffective in fighting infection (3). Due to large-scale refusals wearing masks, the virus continued to spread. Consequently, the authorities of some states were forced to impose restrictions on visiting public places and mandatory mask regimes. The information provided in this study is necessary for further work on my research of the need to wear masks as preventive measures.
Influence of Masks
Nevertheless, there is an opinion that masks are not a suitable means of protecting the population. This study is described in detail by Ewa Zender-Swiercz et al. in the article Influence of Masks Protecting against SARS-CoV-2 on Thermal Comfort. The authors are employees of various departments working with the needs of the population. They claim that masks do not protect people from virus particles entering the body and do not filter submicron particles (2). In addition, the size of masks is universal and does not provide a tight fit to the face. It also affects the invasion of infection.
The authors cite the World Health Organization, which gives recommendations on the correct use of masks in their work. They recommend washing your hands thoroughly before putting on the mask, ensuring that it fits snugly to the face, and changing it when moistened (2). Such suggestions are genuinely working, and people will be able to use the mask as successfully as possible. After carefully studying the article, we can conclude that the mask cannot completely protect a person from infection with a virus. In addition, the mask prevents the active saturation of the blood with oxygen, so it does not allow you to breathe fully (Guidance for Wearing Masks). The information presented in the article is relevant today since the research was conducted in 2021. The counterarguments regarding respiratory protection are convincing and will also help in further study of the topic.
Conclusion
In conclusion, many convincing arguments indicate that the mask regimes were not canceled, and people used personal protective equipment. Still, there are enough articles and studies conducted by reputable people who prove that wearing masks is not a good measure to prevent infection. One way or another, a mask regime in public places, careful hand hygiene, and restrictions imposed by states can help overcome the disease and reduce the spread of infection.
In addition to medical departments and intensive care units, there are an impressive number of institutions involved in tackling the pandemic. Equally important is the Disease Control and Prevention Centers network. These agencies are engaged not only in the problem of coronavirus but also in the prevention of other major diseases of mankind. The Center for Disease Control is a subsidiary of the Department of Health and Human Services. Because the Center is a federal agency, all information created within the work of the resource is transparent and available for review on the Web.
These centers are aimed at collecting information, conducting examinations, and organizing databases on the main diseases affecting humanity. The mission of these centers is not only to prevent the spread of disease but also to raise peoples awareness and attentiveness to preventive measures. The centers represent an impressively branched system, in which such various issues of medicine and health safety as a healthy lifestyle or safety in industrial production are addressed. But it is important to remember that the Covid pandemic affects virtually all spheres of public and private human life, so each of the sub-organizations must make its contribution to the common struggle.
The main problem in connection with the spread of awareness of the pandemic, the need for vaccination, and adherence to preventive measures is massive mistrust. The problem of the need for vaccination and, at the same time, the insufficient amount of time elapsed since the breakthrough of the virus causes alarm and frustration among a large number of the population. Vaccination is also not conducive to a restless social background, due to an excess of conflicting information that is mixed in the minds of residents. Prevention centers need help finding strategies that could bring more attention to the pandemic. Everyone should understand that by not using a mask or not getting vaccinated if possible, they can unwittingly contribute to the spread of the disease.
The very fact of resistance to vaccination not least characterizes the social problem of differences in privileges. Some studies indicate that gender, age, social status, and race can significantly influence the credibility of the government and the government vaccine, respectively. What is important for the Center for Disease Prevention to understand and what needs to be communicated to as many people as possible is the difference between a government initiative and a real pandemic situation. The division between the sociopolitical and the medical must be constantly emphasized here. Marketing or targeting strategies are required, attracted by the Center so that the need to wear personal protective equipment and vaccinations do not seem to be imposed by the higher order. It must be precisely in social circles of low income that the disease is most widespread, and it is precisely these estates that are characterized by the greatest distrust of government initiatives (Jamison et al., 2018). Therefore, there is also a need for volunteer initiatives and humanitarian assistance to distribute the vaccine most humanely.
Last but not least, people are affected by the fatigue syndrome associated with the periodic increase and decrease in administrative control measures for the spread of the virus (Fisk, 2021). Lockdowns, quarantine measures, and social distancing result in collective stress and psychological exhaustion. It is important to maintain marketing campaigns to spread the word about the coronavirus at all times. This is to ensure that people do not forget that the more conscientiously they follow the necessary measures, the higher the chances that the pandemic will come to an end.
One of my biggest fears about a pandemic is the difficulty of coming up with the perfect vaccine. Each new Covid-preventative drug that is developed goes through several phases of clinical trials, as a result of which the vaccine can take more than one and a half years to market. My main hope is that people are disciplined enough to maintain social distance, and patience and be able to follow new and difficult safety rules.
The priority is to restore economic stability and fair distribution of money for the most vulnerable members of society after the end of the pandemic. The virus spreads under conditions of social constraint caused by low economic and social conditions. Therefore, it is necessary, if possible, to equalize the social position of the lower strata of society with financial investments and rehabilitation programs.
Recent innovations in the field of testing for Covid have demonstrated the possibility of predicting the severity of the course of the disease and the hyperinflammatory state. This implicitly affects the entire professional medical community. Diagnostics can prescribe treatment depending on the complexity of the case, anticipating the development of the disease even before it moves into more difficult phases for treatment.
Although the vaccination campaign is taking place in the States in more and more expanded and large-scale phases, the peak of the disease this summer is only predicted and is still ahead. Measures to prevent maximum contamination may not be sufficient, leading to a high burden on hospitals and the health system in general. The tense situation in the country will lead at the family level to limited social contacts, distancing, or even complete social isolation in the name of preventing the disease.
Chloroquine and its derivative hydroquinone are antibiotic drugs developed in the 1940s to treat malaria. His clinical trials have shown positive results in the early and mild stages of the disease and in the prevention of Covid in workers in the medical community who often work with infected people. However, at more severe stages of the course of the disease or the need for ventilation of the lungs, this drug has shown itself to be completely ineffective. Although it continues to be used in the United States and around the world, in general, chloroquine is recognized as unnecessary for further clinical trials.
The pandemic has significant social consequences, shifting the paradigm of perception of the surrounding world and its further future. Both health care workers and their patients express anxiety about social interaction, which has been significantly complicated by precautionary measures. This complicates the work of the health care system, putting strong pressure on doctors and nurses, and undermining their mental health, morality, and ethics (Eddy, 2021). The pressure on hospitals in a situation of increasing morbidity also creates social tension among patients.
To end the pandemic, it is necessary to ensure that conditions of social distancing, isolation if necessary, and conditions of maximum hygiene are maintained by people for the next months or even years. During this time, scientists will conduct vaccines and drugs through all the necessary testing phases and prepare vaccines for mass distribution. A well-designed advertising campaign is required that will explain the need for vaccination and its absolute safety.
Covid-19 has risk groups that are most susceptible to this disease. First and foremost, these are the elderly, who may also have additional complications with the heart or lungs, and, accordingly, suffer the disease in an even more severe, critical form. Caring for the elderly in hospices may not imply full adherence to hygiene and distance dictated by the pandemic (Carey, 2020). As a result, extremely deadly outbreaks of the disease can occur in such facilities. Also, the pandemic has a huge burden on morgues, especially in small towns, where the medical system itself cannot cope with the load and therefore loses many lives.
The pandemic and the resulting social changes have affected perhaps every family unit. Children were forced to move to remote home education, which created severe tensions in cramped homes, which can lead to quarrels and even domestic violence (Lebow, 2020). Practices that prevent such excesses can be family therapy sessions conducted online at home. A more attentive and respectful attitude towards children can prepare them for this difficult period.
The constant supply of all medical and retail outlets with personal protective equipment during the Pandean period is often complicated by panic purchases, supply disruptions, and other reasons. This makes the work of the medical community extremely difficult, forcing them to work in conditions of extremely risky proximity to infected patients. Providers are also experiencing difficulties as their logistics cannot cope with random unaccounted-for factors. Establishing a permanent supply chain in medical communities could help overcome this problem.
References
Carey, L. B. (2020). COVID-19, Aged care, cancer, medical research and mental health. Journal of Religion and Health 59, pp. 26672670
Coal-fired power took a beating during the pandemic, study finds.
Date published
February 8, 2021.
To which module from class does the news item connect?
Module 9.1 Coal.
Summary of article
This article deals with the issue of coal power and its implications on greenhouse emissions. Furthermore, a shift to renewable energy is discussed in relation to moving away from coal-generated energy during the ongoing coronavirus pandemic. Coal plays an important role in many industries and is primarily used to fuel power plants that generate electricity across the United States and worldwide. This nonrenewable resource is still widely used despite the concerns about greenhouse gas emissions and air pollution, which it causes, thus, increasing the climate risks around the world. However, as the COVID-19 broke out at the end of 2019, researchers noticed a decline in demand for coal-generated energy compared to other power sources. This tendency could help people shift to renewable energy in the nearest future.
As researchers found, there has been less demand for coal power in some plants that emit the largest amounts of greenhouse gases in the world. One of them, carbon dioxide, is known to increase the greenhouse effect and speed up global warming. Therefore, reducing carbon dioxide emissions by moving away from coal power is an essential step towards a more sustainable future and renewable energy use.
The Potsdam Institute for Climate Impact Research in Germany published a report that analyzes electricity demand and emissions in several regions: the US, Europe, and India. The study established that a 20% reduction of power demand since 2019 was linked to a 50% decrease in carbon dioxide emissions in some regions. In particular, the most prominent changes were found in Germany, Spain, and Great Britain. Traditionally, natural gas used to be the most expensive of all available power sources, and gas-fired plants used to be the first to stop operating if power demand reduced. However, the study findings revealed that coal power has a higher operating cost than gas power during the pandemic. The researchers believe that the trend of moving away from coal-powered plants could continue after the pandemic. Even though factories based on renewable energy, such as solar or wind, require a lot of costs to be built, they do not need fuel to operate.
Studying the coal issue in relation to climate change effects is especially important. The amount of carbon dioxide released by coal exceeds the amount of this gas emitted by any other type of power generation. Therefore, when demand for coal-powered plants decreased even by a small percentage, it resulted in a significant reduction of greenhouse gas emissions. Such a connection highlights that people should find alternate forms of power to help prevent climate change. Besides, the burning of coal releases toxins and pollutes the air, threatening the increased risk of heart and lung issues among the population, as well as neurological disorders.
In this regard, one should discuss the alternatives that can be used to prevent the harmful effects of coal-fired power. Another study by a London-based energy research organization Ember Climate states wind and solar power capacity increased globally despite the coronavirus pandemic. As mentioned before, one of the advantages of renewable power is relatively low operational cost, in contrast to coal. Therefore, once the power demand grows again, much energy is likely to be generated by renewable or low-emissions resources.
However, the Potsdam reports authors believe that plans on coal power expansion plans are still possible, especially in Southeast Asia. In this region, energy demand continues to increase rapidly. At the same time, high interest rates suggest that renewable energy projects will likely need high costs. To summarize, people will hardly give up on coal power in the nearest future, but the current situation can be used as an opportunity to shift to renewable energy and address climate- and health-related issues. However, financial matters and tendencies in southeast Asian regions can slow down the progress. The article concludes that while climate change seems unrealistic to many people, they will prefer to act in traditional ways instead of making a change.
Why did you pick this news item? Why did you think it was interesting?
I picked this news item because it discusses two important subjects, such as the pandemics effects and climate change in relation to coal-fired power. The study findings discussed by the author are critical for people to be more aware of the dangers of coal-powered plants and the need to use renewable energy. This article seemed interesting as it explains the harmful effect of carbon dioxide and toxins released by coal-burning. Besides, it shows how the current pandemic can be used as an opportunity to shift to solar and wind energy.
What bias or agenda might the source of your news item have?
The New York Times is viewed by the public as a credible source providing accurate information and news. The newspapers website states that its employees seek the truth and aim to provide objective and unbiased opinions. Even though it is not a scholarly source, The New York Times has a national and worldwide reputation as a trustworthy source of information.
Provide at least one question you have after learning from your news item.
After reading this article, I wondered what countries use the most and the least coal power. Besides, I would like to learn more about the negative effects of coal-burning on people and nature.
The ongoing COVID-19 pandemic has already modified human lives all across the globe to such an extent the world itself will never be the same. Thus, in order to remain relevant in the market and show exquisite care to the consumers, global enterprises chose either to rapidly adapt to a revolutionary landscape or create their own approaches to the issue handling (Braunstein, 2020; Toh & Tran, 2020). One of the most vivid examples in the field is the process of digital payment recognition in the existing pandemic paradigm. Primarily, the issue emerged due to peoples inability to use cash in terms of lockdown and the risk of virus transmission in the process of cash exchange (Pal & Bhadada, 2020). Thus, such a precedent became a severe challenge to some companies, making other enterprises benefit from the situation. Banking, entertainment, and grocery segments appeared among the most digitally-oriented businesses that could adjust the online payment opportunity in practically no time (Baig et al., 2020). Thus, the process of pandemic digitalization has become a universal concern as more companies started to follow suit.
Considering the following issue, a few aspects of the process should be taken into consideration prior to dwelling upon the efficient marketing proposal. To begin with, it should be outlined that despite the growing digital payment tendencies, many people still feel more secure about using a case on a daily basis (Chen et al., 2020). Some of the major reasons for such behavioral patterns might concern the lack of governmental support in terms of digitalization and the existence of a population segment that has no direct access to digital sources for online payment conduction (Aji et al., 2020; Auer et al., 2020). Another issue concerns the businesses that lack resources to go digital in the near terms, leaving banking and media industries to bear major responsibility in the field (Seetharaman, 2020). Thus, taking into consideration the aforementioned sources, it might be concluded that while todays tendencies encourage the already emerged process of digitalization, there still exists a variety of pitfalls that are to be eliminated through efficient marketing and business frameworks.
References
Aji, H. M., Berakon, I., & Husin, M. M. (2020). COVID-19 and e-wallet usage intention: A multigroup analysis between Indonesia and Malaysia. Cogent Business & Management, 7(1), 1804181.
Auer, R., Cornelli, G., & Frost, J. (2020). Covid-19, cash, and the future of payments (No. 3). Bank for International Settlements.
Baig, A., Hall, B., Jenkins, P., Lamarre, E., & McCarthy, B. (2020). The COVID-19 recovery will be digital: A plan for the first 90 days. McKinsey & Company.
Chen, H., Engert, W., Huynh, K., Nicholls, G., Nicholson, M., & Zhu, J. (2020). Cash and COVID-19: The impact of the pandemic on demand for and use of cash. Bank of Canada Staff Discussion Paper, (2020-6).
Pal, R., & Bhadada, S. K. (2020). Cash, currency and COVID-19. Postgraduate Medical Journal, 0(0), 1-2.
Seetharaman, P. (2020). Business models shifts: Impact of Covid-19. International Journal of Information Management, 54, 102173.
Toh, Y. L., & Tran, T. (2020). How the COVID-19 pandemic may reshape the digital payments landscape. Payments System Research Briefing, 1-10.
Despite the development of alternative energy sources, oil remains a crucial factor influencing the formation of the domestic economies of states and, as a consequence, the development of the world economy. Based on this, political relations are formed between different states and individual groups of countries. Their development strategies are primarily determined by taking into account the production of oil and petroleum products.
The research issue
The unprecedented reduction in oil demand with an excess of its supply associated with the spread of COVID-19 has led to a colossal imbalance, which caused a record drop in prices. Mhalla (2020) notes that from January to mid-April 2020, the Brent price fell 3.5 times, and WTI futures were sold at a negative price for the first time in the history of exchange trading, clearly demonstrating the vulnerability of the modern pricing system. In this regard, it is advisable to use statistical research methods to assess the products condition and predict further prospects for its development. To generalize the changes and to compare the intensity of the dynamics of the volumes of oil production and sales, the average values of the dynamics in absolute and relative terms can be calculated.
According to Shields (2019), it is necessary to identify if there is a trend in the process under consideration for further analysis. For this purpose, a check for stationarity of the levels of the dynamic series can be carried out by the Foster Stewart method. Ma et al. (2018) assert that if a trend exists, it can be identified, and the accuracy and adequacy of the growth curves can be calculated. If the time series contains not only a trend in dynamics but also fluctuations, it can be carried out. Tsounis and Vlachvei (2018) state that based on the initial data, using the Excel function, a trend equation can be built, which will make it possible to predict the volumes of oil production and sales in the coming period. Thus, statistical research methods will make it possible to assess the current state of the product and predict further prospects for its development.
The research objective
The objective is to estimate the dynamics of oil production and sales. It will allow forecasting further possibilities for its progress in the context of the pandemic caused by the spread of COVID-19.
References
Ma, F., Wei, Y., Liu, L. & Huang, D. (2018). Forecasting realized volatility of oil futures market: A new insight. Journal of Forecasting 37 (4), 419-436.
Mhalla, M. (2020). The Impact of Novel Coronavirus (COVID-19) on the Global Oil and Aviation Markets. Journal of Asian Scientific Research, Asian Economic and Social Society, 10(2), 96-104.
Shields, M. (2019). Research methodology and statistical methods. Waltham Abbey Essex, United Kingdom: ED-Tech Press.
Tsounis, N.& Vlachvei, A. (2018). Advances in time series data methods in applied economic research: International conference on applied economics (ICOAE) 2018. Cham, Switzerland: Springer Nature Switzerland AG.
The Saudi government has allocated funds and established a list of initiatives to accelerate the industrial sectors recovery from the Corona pandemic.
Pandemic Consequences
Coronavirus cases in Saudi Arabia are relatively low. However, the external economic environment related to the pandemic might have a higher financial impact on Saudi Arabia than the internal coronavirus cases.
Initiatives
Further promotion of the tourism sector development;
Enhancement of domestic tourism opportunities;
Offering discounts and extra opportunities for foreign visitors;
Development of new commercial attractions and entertainment for tourists;
Active investment in the local economy (2025 projections)
Services
The main sectors of industry in Saudi Arabia are the oil industry, services, and agriculture. The last-mentioned sector only takes 2-3% of total employment and added value, whereas other sectors have a much more considerable economical importance ( The economic context of Saudi Arabia, 2021).
Tourism Issue
Pandemic restrictions caused a vast decrease in tourism, as traveling and commercial flights in particular have five times lower rates than before ( Global Flight Tracking Intelligence, 2021). Tourism is significantly influenced by foreign consumers, hence the decrease in global demand for provided services as well as the ability to provide them has a considerable influence on the industry.
Initiatives Details: Saudi Arabia Oil Exports
Almost half of the national income in Saudi Arabia is generated by oil production and export, which makes the industry globally dependent. During the previous year, oil prices and demand underwent a dramatic drop. Such events had a significant impact on any oil-focused economy, including Saudi Arabia.
Initiatives Details: Card template
As it is impossible to immediately end the pandemic and resume global tourism, it is crucial to develop two main strategies, First, specific measures should be taken to help service-aimed businesses survive the pandemic without bankruptcy. Second, alternative sources of domestic revenue should be supported by the government to sustain the economy. Provided initiatives may contribute to the solution of the above-mentioned issues. Subsidizing the agricultural sector should be considered as it may create more employment and an alternative source of production and revenue, which does not depend on the global environment.
Introducing tax benefits and a bankruptcy moratorium may allow tourist-aimed businesses to get through the pandemic. Such initiatives may maintain the tourism industry and help it recover as soon as pandemic restrictions end.
Legislation should be modified to prevent the recruitment of foreign workforces to decrease local unemployment which may positively affect all industry sectors and increase domestic purchasing power.
Small and medium-sized enterprises should receive financial support as well as subsidized loans to support business continuity and provide necessary resources to preserve hard-hit industries.
The establishment of new trade agreements related to oil export may prevent overproduction and unnecessary storage costs caused by lower consumption.
Agricultural Area Initiatives
Particular attention should be focused on the development of the agricultural segment of the industry. The modern Kingdom of Saudi Arabia has a global dependent economy, which significantly relies on export and tourism. Pandemic restrictions and the oil crisis have shown that such allocation of financial resources may lead to a list of internal problems. Therefore it is crucial to develop local manufacturing of diverse products to at least supply the internal market. Such products should include technical devices, clothing, food, and building services.
The most perspective area, that may grant needed economical independence to Saudi Arabia is agriculture. Even though agriculture provides only a couple percent of revenue, it is already established as an industry and is relatively significant. Introducing various tax credits, grants, and legislation benefits may help the agricultural area develop rapidly with a list of positive consequences. First, it may not only decrease unemployment but also benefit from the current state, when people are in search of jobs. Second, it may provide the domestic market with basic foodstuffs, decreasing import costs. Finally, it may transform the Arabian Oil production economy into a less oil-dependent state.
The ongoing humanitarian crisis in Yemen resulted from the armed conflict, which happened six years ago and still affects the lives of the citizens. Alongside thousands of killed and injured people, it worsened the situation by continuously increasing the number of internally displaced people, which has already reached about 4 million residents. All these events have a direct impact on the countrys economy since they led to the collapse of the currency, the inability of the government to provide everyone with food and other commodities, and other challenges (United Nations Office for the Coordination of Humanitarian Affairs, 2021). In addition, the escalation of the problem was complemented by the beginning of the COVID-19 pandemic, which brought Yemen to the brink of famine (United Nations Development Programme, 2020). The scarce resources of this country in this regard evoke concerns of the world organizations.
In this way, the mechanism of the described crisis implies the combination of the specified circumstances, the ongoing conflict within Yemen and the emergence of the COVID-19 threat, and their subsequent influence on the economy. As follows from the official reports, the war actions led to a drastic decline in all industries, and the present-day risks to the citizens health with accompanying needs prevented the country from recovering in this respect (United Nations Office for the Coordination of Humanitarian Affairs, 2021). Being one of the least favorable locations in terms of economic affairs, Yemen was marked as the most deteriorating market.
Application of Country Crisis Framework
According to the country crisis framework containing the major indicators, which contribute to the presence of an issue, the most important data are provided by economic figures. In Yemens case, they are primarily related to the available resources and the perspectives of further development of the field. As per the official statistics, the rapid decline in gross domestic product (GDP) growth from 2.1 to -5% over the period from 2019 to 2020 ( Yemen / Economic Studies, 2021). It means that the economy is not developing, and the GDP reflecting the low value of produced goods and services illustrates the problems best.
Other essential numbers allowing to evaluate the crisis are the inflation rate, public debt, current account, and the principal trends alongside specialists forecasts for 2021. As follows from the website with official data, the average yearly inflation increased from 10.0 to 26.0%, and further growth is expected ( Yemen / Economic Studies, 2021). This indicator means that the prices are rising, and this trend contributes to the aggravation of the crisis. It is complemented by the public debt, which changed from 76.5 to 81.5 ( Yemen / Economic Studies, 2021). Nevertheless, the specialists believe that this figure, which demonstrates the countrys ability to receive funds and spend them on critical needs, is decreasing. The current account balance amounting to -6.5 compared to -3.9 in the previous year shows the absence of resources ( Yemen / Economic Studies, 2021). Considering the above facts, it can be concluded that the economic position of Yemen is gradually worsening.
Relationship to the Current Case
The provided economic figures prove the interrelation between COVID-19 with the arms conflict and the countrys economy. Thus, for example, the process of manufacturing new goods and rendering services is complicated by the numerous threats for people as they cannot produce anything in the context of continuing crises. As a result, the GDP growth is slowed down, and the recovery is unlikely until the accompanying risks are mitigated. The trends in inflation rates also correspond to the low economic status of the market. These circumstances are complemented by the governments inability to provide the citizens with sufficient resources and the lack of funds for it shown in public debts growth and account balance indicators, respectively.
These considerations are complemented by the existence of particular strengths and weaknesses stemming from the countrys economic position. The former includes humanitarian aid and international support, the importance of Yemens position for principal operations, cultural and architectural heritage, and available gas reserves ( Yemen / Economic studies, 2021). Meanwhile, the latter are more numerous and complex and presented by the division of Yemen, poverty, dependence, demographic pressure, unfavorable business environment, and restricted access to other markets products and foreign exchange ( Yemen / Economic studies, 2021). In other words, the country receives sufficient aid, but the delivered goods are being stolen by the soldiers. Its location at the entrance to the Red Sea does not provide any advantages due to the maritime blockade. In turn, the available resources cannot be used because of the obstacles to their realization in the market explained by bureaucracy, corruption, and poor infrastructure.
Key Take-Away For Future Crises
The economic data provided above can be viewed through the lens of the current COVID-19 crisis complemented by the war conflict on the territory of Yemen. The former is believed to result in over 230,000 deaths, which exceeds the number of the latters casualties over the past five years (Karasapan, 2020). This outcome confirms the severity of the situation and presents the theoretical underpinning of similar events for future periods of economic decline. It attests to the emergence of critical conditions regarding citizens survival when war actions are added by the pandemic. Therefore, it can be concluded that countries with serious issues should be supported first when it comes to health threats.
This conclusion positively correlates with the ratings of Yemen published by the agencies. Thus, the sovereign status, which means the capability to address the public debt, remains the default, as per D-rate ( Yemen: Risk assessment, 2020). The same applies to the banking sector characterized by non-performing loans stemming from the conflict and the fragile public finances, which also received a D-rate, and a C-rate of the currency means its instability ( Yemen: Risk assessment, 2020). Economic and political risks remain high, and this fact is explained by the reliance on foreign aid and the warring parties, respectively ( Yemen: Risk assessment, 2020). In the end, Yemens economic position is unfavorable, and the challenges are not expected to be overcome in the nearest future.