Spotlight on Economics: How will COVID-19 affect international trade? –

The COVID-19 pandemic has affected 185 countries so far.

Several countries have put major production centers in lockdown to contain the outbreak and prevent the further spread of the coronavirus. The lack of parts, components and labor resulting from the lockdown has paused many global manufacturing production chains.

During pandemics, such as the current novel coronavirus outbreak, a supply-led recession is considered normal or even an efficient market response. But as the news arrives from different corners of the world and new data are becoming available, what is clearer is that the health and economic effects of COVID-19 are far greater and complex than first anticipated.