Our planet has various epidemics and un-curable diseases. These diseases are a testimonial to the fact that how difficult it is to survive as the species which wishes to sit at the top of the food chain. The residents of the planet are always at the risk of losing their dreams, aspirations and moments of joy right after one visit to the doctor. Corona virus is one such grim reaper, who has come lately to take lives of anyone who comes in contact with it. The source of the virus largely remains unknown. The virus originated in snakes and bats, suspiciously. Huanan seafood market in the city of Wuhan, located in the Hubei province of China is its suspected source.
The virus first attacked the people who worked at the seafood market. The first case outside China came in February in the Philippines.
The phenomenon now has become global and every country in the world is now cautious to safeguard its citizens. In the host country, there were about 84,494 cases and 4,645 deaths reported as of 18 May 2020.
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Impact on International Business
The corona virus has impacted businesses manifolded. Most MNCs have been affected by disease and have exposed themselves to the risk of supply chain management which is arising out of the inventory system as a strategy in order to lower the costs.
China at the moment accounts for 16% of the total GDP globally, 40% of the total Global trends in Textiles and 26% of total Global trade in Furniture. The country also has an extremely large consumer base and uses almost 20 percent of the total global imports in mining material. Over the last few years, China has also become the manufacturing giant globally. As a consequence, most of the manufacturing takes place in the interior areas of the country.
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The consequence of the present crisis is that the global automobile manufacturer Hyundai had to close all it’s manufacturing plants in South Korea due to lack of parts in China. Similarly, Nissan in Japan and Fiat in Europe had to slow-down production in their factories.
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Raw Materials including oil and natural gas production has been slowed down all over the world due to the shrinking demand in China. But, every situation has two aspects, one being the positive and the other being negative. The upside of all this is that in the long run, the impact of Corona Virus could mean that the Global MNCs will improve their supply chain planning in the context of Asia and specifically China.
What is Corona Virus?
Corona virus, more commonly known as Covid-19 is a group of viruses which causes diseases in mammals and birds. In humans, the virus can cause respiratory infections such as Severe Acute Respiratory Syndrome(SARS), Middle East Respiratory System(MERS) which can lead to death. The virus is enveloped with a positive sense single stranded RNA genome and with a nucleocapsid of helical symmetry.
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How does it spread?
Corona virus often spreads through close contacts. Respiratory droplets produced by an infected person can infect others when it reaches the mouth or the noses of nearby people.
The rate of contagion may vary depending upon how sick they are. While some of the viruses are easy to catch, some are less likely to infect people.
The symptoms of the disease include:
- Dry cough
- Runny nose
- Breathing difficulty
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Some patients may have aches and pains, nasal congestion, runny nose, sore throat or diarrhea. Symptoms are usually mild and begin gradually. Some people become infected but don’t develop any symptoms and do not feel unwell. A lot of people who are infected with the virus are more likely to develop serious illness. People with fever, cough and difficulty in breathing should seek medical attention.
Currently, there is no vaccine to prevent the spread of Corona virus. However, one can adopt the following steps in order to be safe from the virus. These include:
- Staying aware of the latest information on Covid-19 outbreak, available on the websites of various national, local and state authorities.
- Regularly wash your hands with an alcohol based hand rub or wash them with soap and water.
- Maintain a distance of at least one metre between yourself and anyone who is coughing or sneezing.
- Avoid touching eyes, nose and mouth.
- Follow good respiratory hygiene.
- Stay home if you feel sick. If you have fever, cough and difficulty in breathing, contact your nearest health care facility.
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