The COVID-19 Pandemic and Its Impact on the Global Market in Developing Countries

The COVID-19 pandemic disturbed all aspects of social life, economy and energy, with significant challenges in every area, from the availability of medical equipment to the breakdown of economic activity and the collapse of the price of oil. This is a global crisis unlike any other modern society ever faced.

Climate Change and it Changing the Phase of the Global Market during
Covid 19 in Developing Countries
Abstract:
The COVID-19 pandemic disturbed all aspects of social life, economy and energy, with
significant challenges in every area, from the availability of medical equipment to the breakdown
of economic activity and the collapse of the price of oil. This is a global crisis unlike any other
modern society ever faced. The COVID-19 pandemic is considered as the most critical global
health tragedy of the century and the greatest challenge that the humankind faced since the 2nd
World War. The impact of the COVID-19 Pandemic on Climate Change has caused a disastrous
turmoil on a global scale resulting in the slowdown of the global economy due to the repeated
lock-down measures. However, the pandemic has also impacted the climate in a positive way
due to the significant reduction of human activity whether transport or industrial output. Since
transport, a key source of GHG emissions, fell to a unprecedent levels over this period, the
emissions were reduced significantly. The air pollution in all major cities significantly reduced
over the lockdown periods, an unintended result of the pandemic. The coronavirus outbreak is
severely disrupting the global economy. Pandemics in general are not merely serious public
health concern, rather these trigger disastrous socio-economic and political crises in the infected
countries. COVID-19, apart from becoming the greatest threat to global public health of the
century, is being considered as an indicator of inequity and deficiency of social advancement.
Introduction:
In December 2019, a new infectious respiratory disease emerged in Wuhan, Hubei province,
China and was named by the World Health Organization as COVID-19. As is implied in the
name COVID-19, ‘CO’ stands for ‘corona,’ ‘VI’ for ‘virus,’ and ‘D' for disease, and 19
represents the year of its occurrence. It has rapidly spread around the world, posing vast health,
economic, environmental and social challenges to the entire human population. Almost all the
nations are struggling to slow down the transmission of the disease by testing & treating patients,
quarantining suspected persons through contact tracing, restricting large gatherings, maintaining
complete or partial lockdown etc. In addition, other global environmental changes such as soil
degradation, ozone layer depletion, pollution, and urbanization, changing environment creates an
indisputable threat to our planet and human health. Global warming has its roots in industrial
development, with the huge release of CO2 during the industrial revolution and beyond, finally
allowing the greenhouse effect to take place. To some extent COVID-19 outbreak may be
considered as an indirect consequence of global environmental changes. Besides its upsetting
effects on human life, the novel coronavirus disease (COVID-19) has the potential to
significantly slowdown the economy not only of China, USA, or India but also of the world as a
whole. Therefore, healthcare personnel, governments and the public in general need to show
solidarity and fight shoulder to shoulder for prevention and containment of the pandemic.

Climate Change during COVID 19:
Although both COVID-19 and climate change impact agriculture and food systems, the nature
and processes by which they do so vary. While impacts of COVID-19 is sudden, spreads fast and
causes immediate high risks, the impacts of climate change builds slowly over a certain period
and has long-term term impacts. However, climate change has a positive effect on air pollution.
Because of COVID-19 lockdown and restriction of movement air pollution has reduced
considerably globally. Because of Covid-19 the use of disposable medical supplies (such as hand
gloves, and surgical masks etc.) have increased considerably. For instance, in Wuhan, China, the
medical wastes had increased by 40–240 tons in a day during the peak of Covid-19 This waste
has increased environmental risks including contamination of water, land and air, which
indirectly may affect public health and food and agriculture.
Improvements in air quality:
Due to the COVID-19-induced lockdown, industrial activities have dropped, causing significant
reductions in air pollution from exhaust fumes from cars, power plants and other sources of fuel
combustion emissions in most cities across the globe, allowing for improved air quality.
Reduction in environmental noise:
The impact of noise has long been underestimated, and although more premature deaths are
associated with air pollution in comparison to noise, however noise constitutes a bigger impact
on indicators of the quality of life and mental health. The reduction in air pollutants is a massive
reduction in environmental noise. Environmental noise, and in particular road traffic noise, has
been reduce. A recent study on the aftereffect of COVID-19 pandemic on exercise rates across

the globe concluded that reduced traffic congestions and by extension reduced noise and
pollution has increased the rate at which people exercise as they leveraged the ensued pleasant
atmosphere.
Record low CO2 emissions:
Unprecedented reduction in global CO2 emissions is another positive effect that can be attributed
to the COVID-19 pandemic. The massive fall in energy demand induced by COVID-19
accounted for the dramatic decline in global GHG emissions. The global CO2 emissions are
projected to decline by ~8% (2.6 GCO2) to the levels of the last decade. If achieved, this 8%
emissions reduction will result in the most substantial reduction ever recorded as it is expected to
be six times larger than the milestone recorded during the 2009 financial crisis.
COVID 19 and Economy:
Loss of lives due to any pandemic causes definite irretrievable damage to the society. But apart
from this, COVID-19 has severely demobilized the global economy. In order to restrict further
transmission of the disease in the community, many of the affected countries have decided to
undergo complete lock down. Major international flights and also all types of business transports
have been deferred amid different countries. Due to lockdown all domestic flights, railway
service (except goods trains), bus, truck, and vehicles transports are suspended with special
exemption to those associated with essential commodities. In almost all the COVID-19 stricken
countries, entire educational, commercial, sports and spiritual institutions are closed. Industries
are suffering a lot as many of these excepting those related to essential amenities, are closed for a
long time in many countries. People belonging to the tourism and transportation industry are also
facing utmost difficulties. Production level has gone very low. Economy of many so-called
powerful countries are now facing the threat of high inflation and increasing unemployment as a
result of lack of productivity and excessive expenditure for the treatment and rehabilitation of the
COVID-19 victims and their families. According to World Trade Organization and Organization
for Economic Cooperation and Development have indicated COVID-19 pandemic as the largest
threat to global economy since the financial emergency of 2008–2009. So, COVID-19 has
undoubtedly put forth a remarkably bad effect on the day-to-day life of the entire human society
and also on the world economy.

Unsustainability of current economic and business models amidst COVID-19:
It is interesting to observe that while COVID-19 has led to a very steep reduction in air pollution
in advanced economies due to reduced economic activity imposed by the lockdown, this
pandemic-driven positive impact is only temporary as they do not reflect changes in economic
structures of the global economy the changes are not due to the right decisions from governments
in terms of climate breakdown policies and therefore should not be misconstrued as a climate
triumph. More importantly, life in lockdown will not linger on forever as economies will need to
rebuild and we can expect a surge in emissions again.

COVID-19 and Global Environment:
From the very beginning of civilization, human beings gradually started manipulating the nature
for its own benefit. In order to satisfy the demand of increasing population industrialization and
urbanization became inevitable, and the obvious significance was proved to be detrimental on the
global environment. Further, environmental concerns include air pollution, water pollution,
climate change, ozone layer depletion, global warming, depletion of ground water level, change
of biodiversity & ecosystem, arsenic contamination and many more. Global warming is a result
of the increasing concentration of greenhouse gases (CO2, CH4, N2O etc.). Out of the desire to
drive the nature as per their own whims and desire, human beings started destroying the nature in
numerous ways. As an inevitable consequence environment pollution has become a big issue of
the present day. But, due to the unusual outbreak of COVID-19, almost every big and small
cities and villages in the affected countries like China, Taiwan, Italy, Africa, USA, France,
Spain, Turkey, Iran, Germany, S Korea, U.K, India, Australia and many more, is under partial of
total lockdown for a long period of time ranging from a few weeks up to a few months. Various
types of industries are not functioning, all types of travels are cancelled. Meanwhile, efforts to
restrict transmission of the COVID 19 by restricting the movement have had an outstanding
environmental effect. Due to non-functioning of industries, industrial waste emission has
decreased to a large extent. Vehicles are hardly found on the roads resulting almost zero
emission of green-house gases and toxic tiny suspended particles to the environment. Due to
lesser demand of power in industries, use of fossil fuels or conventional energy sources have
been lowered considerably. Ecosystems are being greatly recovered. In many big cities the
inhabitants are experiencing a clear sky for the first time in their lives. The pollution level in
tourist spots such as forests, sea beaches, hill areas etc. is also shrinking largely. Ozone layer has
been found to have revived to some extent. The pandemic has displayed its contrasting
consequence on human civilization, in the sense that, on one hand it has executed worldwide
destruction, but created a very positive impact on the world environment on the other hand.
Pharmaceuticals and protective equipment are imported largely from Europe
and other COVID-19 affected countries:
As global demand for these products sharply rises, the increase in prices can lead to reduced
availability for Africa. African countries import around 90% of their pharmaceutical products
from outside the continent. Medical and pharmaceutical products are imported from the EU 27
(51.5% of total imports), India (19.3%) and to a lesser extent Switzerland (7.7%), China (5.2%),
the United States (4.3%) and the United Kingdom (3.3%). At the end of March, the African
Centre for Disease Control (CDC) and the WHO had rolled out more than 75 000 COVID-19
tests across the continent. The partnership between the Jack Ma Foundation and the Prime
Minister of Ethiopia provided each of the 55 member states with 20 000 tests, amounting to
1.1 million additional tests.
However, despite large medical aid promised by traditional donors and China, diagnostic
material, personal protective equipment, and other medical equipment are in short supply. For
example, according to the WHO, fewer than 2 000 ventilators have to serve hundreds of millions

of people in public hospitals across 41 African countries, compared with more than 170,000 in
the United States. Unlike the Ebola outbreak in 2014, the global nature of the current pandemic
and the recent export restrictions on COVID-19-related medical supplies adopted by European
countries, the United States, and India, are negatively affecting Africa.
Interconnected challenge of Climate Change and COVID-19 Pandemic:
A conceptual framework:
Although the number of COVID-19 cases and fatalities might still appear comparatively low in
Africa than in other world regions, the looming health shock of COVID-19 could have disastrous
impacts on the continent’s already strained health systems, and could quickly turn into a social
and economic emergency. Beyond health risks, the COVID-19 shock to African economies is
coming in three waves:
(i) lower trade and investment from China in the immediate term.
(ii) a demand slump associated with the lockdowns in the European Union and OECD
countries and
(iii) a continental supply shock affecting domestic and intra-African trade.
Beyond the immediate response, recovery strategies should include a strong structural
component to reduce dependence on external financial flows and global markets, and develop
more value-adding, knowledge-intensive and industrialized economies, underpinned by a more
competitive and efficient services sector. Effective implementation of the African Continental
Free Trade Area and the African Union’s productive transformation agenda can strengthen
regional value chains, reduce vulnerability to external shocks, advance the digital transition, and
build economic resilience against future crises.

Conclusion:
I would conclude that COVID-19 is nature’s revenge for over forty years of nature’s gross and
abusive mistreatment at the hands of a violent and unregulated neoliberal extractives.
Environment change is one of the biggest and most vital challenges of the 21st century. In spite
of all their efforts to restore the nature during the last few decades, humans could only move a
few steps forward. But during the last few months, consequences of the pandemic have
successfully recovered the environment to a large extent that should definitely set positive
impact on global climate change. Whatever be the cause or origin, the occurrence of COVID-19
has emphasized to improve the mutually-affective connection between humans and nature. At
this point of time, it is indispensable to control the source of disease, cut off the transmission
path, and use the existing drugs & means to control the progress of the disease proactively. Like
all the preceding disasters on the earth, let all be optimistic enough that, human beings will
definitely win over the pandemic in due course of time, but they should know the limits to which
they can thrust nature, before it is too late.