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Blog
12 Mar 2020
Coronavirus – Virus of the People and the Economy

As the epidemic of Coronavirus continues to spread around the world, numerous questions arise and concerns are shared not just regarding the overall wellbeing, but also consequences that will leave a mark on the global economy. It becomes imperative to contribute in raising awareness of the nature, symptoms, and prevention of this virus.

The situation is rapidly changing, and the number of cases is constantly on the rise. Even the incubation period hasn’t been officially confirmed (between 2-14 days), as there has been a case with the incubation period of 28 days.

So, by sharing this video with you, Field Scope International is committed to educate and disseminate information which is crucial in protecting and caring for yourself, your family and the community.

It is extremely important to be aware of the symptoms, but even more so – how to help prevent the virus from spreading. That is why keeping the environment healthy and sterile is one of the factors all of us should be focused on.

Not only lives but also the economy has been affected by the outbreak in ways large and small.  The World Stock Market has been shaken by coronavirus, as the investors are estimating the consequences as well as HOW LONG the crisis will actually last.

The US Stock Market has faced and is still facing a very turbulent period, and it doesn’t take long before the investors pull their stocks in times like these. More than a month ago, on the 31st of January, we have witnessed Dow Jones stocks lose more than 600 points, which is the biggest loss in the US Stock Market in the last 6 months.

Giants like Walt Disney, Starbucks, Lufthansa, British Airways and Apple have announced that they will be closing their stores, canceling their flights or in any way seizing their business operations in countries affected by the virus, which is essentially – the entire world.

In the London Stock Market, the ones who have suffered the biggest losses are Rio Tinto and Glencore, mining companies, because of the fear that China will lose interest in metals and minerals.

The fear of virus spreading has wiped $400 billion off the value of China’s stocks in the biggest drop for five years on the first day of trading since the Lunar New Year break. The International Bank of China has introduced an extra 1.2 billion Yuan in order to strengthen the economy.

This has resulted in Yuan losing its value, especially compared to the US Dollar. On the other hand, both the Australian and New Zealand Dollars have also significantly lost value, as China is their biggest trading partner.

In the meantime, the price of gold is maintaining its highest value since 2013. And even though the gold is maintaining its value, just a few weeks after the coronavirus outbreak in China, the demand for oil has plummeted under 20%.

With China being the biggest consumer of oil in the world, with 13 barrels consumed for every 100 barrels made, it is easy to see how the entire world economy is affected by the coronavirus outbreak.

According to the situation at hand, Field Scope International behaves in a responsible manner and takes any precautions needed to protect employees as well as company operations from any risks that may occur as a result of the COVID19 virus.

As the virus spreads, the economic situation is likely going to get worse before it gets better.

The mission of our video is to increase awareness in the practice of the following precautions, by everyone. Being healthy and safe is a top priority, so, let us all stand together and fight man’s oldest, smallest, but fiercest enemy – the virus.