Economic Crisis Caused by COVID-19 and Its Policy대한민국청소년영어뉴스/KOREAN YOUTH ENGLISH NEWS
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  • 기사등록 2020-11-02 21:27:44
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COVID-19 means viral respiratory disease of animal origin. There are two effects of this phenomenon, preventing serious situation and experiencing crisis. Nowadays, there is COVID-19 that is harmful to the economic crisis and people's lives. The virus affects many quarters, which include the service industry, trading, and manufacturing industry, and many others.


▲ The virus called `Covid-19˝ looks like that which is similar to crown. This virus can be harmful for people.



Nowadays, the growth of the economy shows 3.3 percent reduction, a terrible growth rate in 22 years. It is because the shipment from trading to Europe, China, and the USA has sopped due to COVID-19. Also, the service industry and manufacturing industry do not operate well. So, it causes bad results in the first and second quarters. According to a survey, among ten people, eight people felt the difficulty in this tough economic time. Therefore, the government made a policy for people to make better lives. They use real estate policy and regional economic revitalization policy, which include the expansion of Miryang love gift, Miryang products consumption, and many others. However, the vision of the government's real estate policy is no really achieved as the policy has more negative effects than positive ones. Also, the effectiveness of the government's new real estate policy is being questioned. The regional economic policies are made to form the overarching framework for regional policies to reduce disparity. It gives people substantial help. As the infection is spreading, the government announced the social distancing policy Stage 2. They said that the social distancing policy Stage will be applied and be observed for a week to decide whether the social distancing policy Stage 3 is needed or not.


▲ Hand sanitizer can help protect people from being infected.


In the past, South Korea suffered a foreign-exchange crisis, specifically in 1997. At that time, people joined a gold-collecting campaign to make the situation better. As we have seen in a similar case, we can prevent an economic crisis caused by COVID-19.



By Jun Hyeong Park



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