Answer:

Coronavirus disease 2019 (COVID-19 or coronavirus) was first diagnosed by health officials in Wuhan City, People's Republic of China, in December 2019. According to the World Health Organization, more than 118,000 cases have been reported worldwide since then, and the virus has spread to more than 114 nations across six continents, resulting in over 4,200 deaths (WHO). The proliferation of the coronavirus has created a worldwide crisis. The US Centers for Disease Control and Prevention (CDC) have labeled it an "epidemic," and the World Health Organization (WHO) has just upgraded it to a "pandemic"— an infectious disease that can easily infect people and spread from "person to person in an efficient and sustained manner," according to the CDC. The spread of the coronavirus will have an impact on the global economy, in addition to serious health problems. COVID-19 is particularly vulnerable to disrupting just-in-time supply networks, many of which originate in China. To stop the spread of the coronavirus, Chinese officials ordered plant closures in majority of the country's regions in January 2020. Despite plans to reopen in early February, several businesses have stayed closed. These facilities, according to Dun & Bradstreet, produce everything from medications to auto parts to electronics, and their closure has disrupted the work routines of about 60 million Chinese people.

Explanation: effect, As a result, the coronavirus has caused practically every Fortune 1000 company's usual business operations to be disrupted. Multinational corporations face the harsh realization that business will not carry on as usual in practically every area. Economists have also predicted that the coronavirus outbreak will cost the global economy $1.1 trillion in lost revenue. Some estimate that the global economy will contract this quarter as a result of the epidemic's aftershocks, for the first time since the end of 2008, when a financial sector shock wreaked havoc on firms around the world.