Appraisal of Coronavirus on Global Economy: “Ineffectiveness of Economic Growth and Development in Global South”

Authors

  • Patrick Ugwuegbu Chigoziri Lecturer

Keywords:

global economy, coronavirus, economic growth, and economic development, and dependence of Third World countries, global economy.

Abstract

This study explores the main problems of global economic growth and industrial transformation across the globe before the corona virus, and how multinational forces have influenced certain areas of Third World countries since feudalism arose as a mode of production to the acceptance of capitalism as the historical history of the global economy. It also explores how capitalism later became a pioneer of imperialism, African trafficking, colonization and neo-colonialism in the Global South and some areas of the global north. The paper also explores the historical context of the coronavirus, its harmful consequences and its way out of the global economy. The secondary source of data is used as a methodological tool to address the knowledge vacuum in the complexity and effect of the global economy of coronavirus (COVID-19) in both the northern and southern parts of the world. This study suggests that both the southern and northern areas transition to each other without imperialism. The study also calls for all the Global South to demonstrate unity in the sociopolitical system and in the international coalition/alliance. The study concludes to commend World Health Organization, UNICEF, World Bank, UN, EU, AU, IMF, OAU, OPEC, and International Trades Organization and all Global Center for Disease Controls, for their effort on coronal virus, and they should also continue to give assistances across the globe.

Published

2020-06-22

How to Cite

Patrick Ugwuegbu Chigoziri. (2020). Appraisal of Coronavirus on Global Economy: “Ineffectiveness of Economic Growth and Development in Global South”. NOLEGEIN- Journal of Business Risk Management, 3(1), 1–18. Retrieved from https://mbajournals.in/index.php/JoDBCM/article/view/475