According to the recent estimates published by United Nations Conference on Trade and Development (UNCTAD), which economy is most affected by the coronavirus outbreak?
Correct answer: C. European Union
- A. Japan
- B. United States
- C. European Union
- D. All of these
Explanation
UNCTAD estimated that the European Union faced the largest economic impact because its industries and supply chains were strongly connected to China. Japan and the United States were also expected to suffer significant losses.
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About Global Economy
Global economy covers growth, inflation, interest rates, exchange rates, public debt, trade and employment across major economies. It also includes the work of the IMF, World Bank, WTO and central banks, along with oil and commodity prices, supply-chain disruptions, sanctions, trade agreements and the economic effects of international crises.
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