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The economic impact of the COVID-19 pandemic in the United States has been widely disruptive, adversely affecting travel, financial markets, employment, shipping, and other industries. The impacts can be attributed not just to government intervention to contain the virus (including at the Federal and State level), but also to consumer and ...
On 4 February, President Marcelo Rebelo de Sousa admitted that the epidemic of the new coronavirus in China "affects the economic activity of a very powerful economy and thus affects the world's economic activity or could affect". He also admitted the possibility of economic upheavals due to the break in production."
The Danish economy contracted in quarter 1 of 2020 as the GDP growth transitioned from 0.4% in quarter 4 of 2019 to -0.8% in quarter 1 of 2020 due to the deadly pandemic. Following the dip in GDP in quarter 1 of 2020, another decline came in quarter 2 as it went from -0.8% to -5.9% which resulted in a deep recession. [ 349 ]
Furthermore, the growth of globalization has linked economic development with trends on international trade and participation in global value chains (GVCs) and international financial markets. The last financial crisis had a huge effect on economies in developing countries.
Buildings in Rio de Janeiro, demonstrating economic inequality. Effects of income inequality, researchers have found, include higher rates of health and social problems, and lower rates of social goods, [1] a lower population-wide satisfaction and happiness [2] [3] and even a lower level of economic growth when human capital is neglected for high-end consumption. [4]
This unified theory of inequality and growth, developed by Oded Galor and Omer Moav, [124] suggests that the effect of inequality on the growth process has been reversed as human capital has replaced physical capital as the main engine of economic growth. In the initial phases of industrialization, when physical capital accumulation was the ...
So far, the promise of growth potential of the Future 50 has consistently borne out, with all annual cohorts outperforming the S&P 500 as well as the S&P 500 Growth indices on revenue growth.
Its effect has been broad, affecting general society, the global economy, culture, ecology, politics, and other areas. These aspects are discussed across many articles: Economic impact