New Delhi: Moody’s Analytics believes that if the corona virus takes the form of an epidemic, the global economy may be hit by recession.
Moody’s Analytics chief economist Mark Jandy said on Wednesday that corona virus infection has now spread to Italy and Korea as well. In such a situation, the possibility of it becoming an epidemic has increased.
He said that the corona virus has given a major blow to China’s economy. Now it has become a threat to the economy of the whole world. The official name of the corona virus is Covid-19. It started in Wuhan, China in December 2019. Moody’s Analytics said, “Covid-19 is shocking the global economy in many ways.
Travel and tourism have come to a complete standstill in China for business purposes. Airline companies around the world have stopped flights to China. The problem has also arisen for major travel destinations like the US. 3 million tourists from China visit America every year. “Moody’s said that Chinese tourists are at the forefront of spending in the US by foreign tourists.”
