Paper Details

COVID-19 pandemic has negatively impacted global economy. Geopolitical calculations that follow the concept of power measurement have shaped how countries, especially the United States and China, have responded to the pandemic. The way in which geopolitics has influenced the responses to this crisis has not been fully realized, and its impact has been felt in the international legal field. COVID-19 broke out after the balance of power returned to international relations, and major competing forces have turned the crisis into a battleground for their power and influence. The study found two ways in which coronavirus impaired economic activity. First, the spread of the virus has fuelled social unrest that has led to the closure of financial markets, corporate offices, businesses and events. Second, the level of exposure to which the virus spread, and increased uncertainty about the severity of the situation, led to insecurity in spending and investment among consumers, investors and international partners. The study focuses on the global economic downturn from early 2020 to March when the coronavirus begins to spread to other countries and markets. It uses real-world perceptions in assessing the limited measures, monetary policy measures, and public health measures that had been adopted at this time. It also examines the impact of social segregation policies on economic activity and stock market indicators. The findings suggest that an increasing number of closing dates, monetary policy decisions and international tourism restrictions have had a significant impact on the quality of economic assets and the closure or opening of them at very low or high stock prices. In contrast, restrictions on internal movement and spending on higher policy have had a positive impact on the level of economic activity, although a growing number of confirmed coronavirus cases have a direct negative impact on the level of economic activity.

COVID-19, Economic Activity, Geopolitical Calculations, Global Economic Downturn, Monetary Policy.