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The last couple of months were challenging for the people around the whole world. A year ago, no one ever thought about the pandemic, and we were all surprised to be a part of the global tragedy. No one has prepared us for this event, but we adapted and eventually, we are going to overcome it. However, we do feel the consequences of the global pandemic.

Remote work is on the rise, and we're dealing with the ongoing global COVID economic crisis. There's no doubt that the coronavirus outbreak has disrupted the global trade. We can't say for sure how is this going to end, but we can measure the impact on international trade and make some predictions about the possible outcomes.

Closure of non-essential manufacturing facilities

Three months after the pandemic has started, most countries have ordered the closure of non-essential businesses. However, these decisions still affect numerous corporations. A significant reduction in the workforce is one of the main reasons why some corporations have taken these measures voluntarily. Either way, a lot of people remain unemployed due to the coronavirus outbreak. These people struggle to feed their families and provide essentials for their children. Some governments have decided to render financial support for the people in need of help, but that's far from enough to lead a comfortable life. The closure of non-essential businesses still affects millions of people around the world. They don't have enough food on their plates, and finding a new job seems nearly impossible.

Small business and COVID-19

Many small business owners from around the world had to stop with production and close their businesses. This sudden and unexpected change still affects their financial health. Most business owners struggle to survive since their earnings were the only source of their income. However, some entrepreneurs are finding new ways to continue with the production under these difficult conditions. Luckily, some people can continue with production from the comfort of their home.

Craftsmen, carpenters and some fast-food centres have found a way to transfer their working stations and start working from home. Restaurants and other fast-food chains had to come up with a different approach. People may not be able to spend time in restaurants, but they can order food and have it delivered directly to their doorstep. Pharmacies, boutiques and drugstores are also trying to focus on the delivery service.

Increase in logistic and management services

It's hard to explain what's going on. We still live in fear, but we're adapting to it, which was somehow expected, but that's not the best solution. However, more or less, everything is coming back to normal, and we have more options to choose from and find something that suits us. But some people are still sitting at home and waiting for the pandemic to be over.

On the other hand, successful freight companies are on the rise because the transportation of goods is still crucial for most businesses. Most borders are open, and we can continue to trade our goods and deliver supplies to our buyers. A lot of people have died, and some of them are still afraid to start working again, which makes it hard to find an adequate workforce. Companies have to invest in logistic services because that's the only way to transfer large quantities of supplies and products to the buyers.

Stock-out shortage, higher prices, and no supplies

The rise of food delivery service is good for some businesses, but the impact it has on the economy and international trade is not as positive as some may argue. Most borders were closed, and it was impossible to continue to trade goods and deliver supplies to their final destinations. After the governments have closed the non-essential businesses, they had to stop with production, and after a while, there was nothing left to sell.

Lack of supplies still affects the prices in most countries around the world. The salaries are still the same, and people need to segregate more money for food and other essentials. One thing is for sure- it will take a while before we get back on our feet and recover from global inflation. It's hard to determine what to do next and how to deal with the current situation. Luckily, people from many countries are much safer now, but the battle is still far from over.

Conclusion

The coronavirus outbreak didn't only affect international trade. Every aspect of our lives has taken a different turn, and there's nothing else to do but wait and adapt. It's hard to imagine what will happen to us and our economy if we continue to spiral down. Once we become immune to the virus, at least we won't be afraid anymore. Vaccination will give us more mental strength to deal with this issue. Once there is no fear, we might be able to make changes that will have a positive impact on our lives, economy and international trade.

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