whats going to happen after lockdown ? "Digital currency" and Eradication of us dollars

Impact of COVID on the world's economy

  COVID 19 made a Direct impact on production, Supply chain, and market disruption, the financial impact on firms, and financial markets worldwide. India's unemployment rate might have gone to more than 20 percent as the economy lost jobs after a nationwide lockdown took effect in the last week of March due to the Covid-19 outbreak. The coronavirus pandemic would have a debilitating impact on India's tourism sector with the industry estimating an overall loss of Rs 5 lakh crore and job cuts for 4-5 crore people. spice jet also announced no pay for April and may for pilots.its also make a big impact on pharma, IT, manufactures, automobiles, and all the sectors.

The only hopes of all the citizens of India are, the lockdown will get to end on May 3, it is a mirage. There are some bright possibilities to extend the lockdown till the end of May. Even if the lockdown gets to end on May 3 there are no possibilities for the "U" shaped recovery. It is much worse than the 2008 crises. A record 3.3 million Americans filed initial jobless claims for the week ended March 21. It reflects the major job losses in the Indian IT sector and all the service-driven companies. Indian is the country where the economy mainly depends on the Indian service-driven companies. Job loss of Indians in America due to the COVID 19 and huge migration of Indians from gulf countries due to oil price war India going to face a huge unemployment rate.

The Great Depression at wall street in 1929

It isn't the first time for the economy of the world to be in recession. History repeats by itself, this recession is likely to the great depression in 1929.

The term "great depression" indicates the global economic crisis that was triggered by the collapse of the Stock Exchange on Wall Street in New York in October 1929 and continued during the thirties. Over 9000 banks failed at that time. Since the deposits were not insured, people lost all the savings. Unemployment has risen to 12 million people Many farmers went bankrupt in US.this what the same happening in the economy of the world now. the hidden inkling for this crisis is, we need to learn from our past. even though the US suffered from the great recession in 1929, now Us is the world's largest economy by nominal GDP and net wealth and the second-largest by purchasing power parity (PPP).

whats going to happen in china's dominance and Digital currency?

All the participant countries in the economic race are strongly following what the US did after the great depression. Is they did magic after the great depression.yes it was magic by the magician Franklin D. Roosevelt. Franklin D. Roosevelt(1882–1945) was the 32nd President of the United States and the only chief executive to be elected to more than two terms in office.

         The basic idea of the plan of Roosevelt was state intervention in all areas of life. States were to regulate the production, industrial relations. The aim was to restore the purchasing power of the population.  An important measure to overcome the Great Depression was the organization of public works, organized by the Public Works Administration (PWA) and the administration of civil works.

It was simultaneously involved more than 3 million people. The work was focused on the construction of infrastructure and land development. Thus, the measures taken to overcome the depression of 1929-1933 proved effective and the U.S. economy began to recover, and the beginning of the Second World War was the impetus for the rapid development of America's economic strength. These are the golden rules for the upcoming years for all the countries. There is a big conflict between America and China in this pandemic, but china was well clear in their way to eradicate the power and dominance of US dollars in the economy of the world .despite of COVID 19 china opened their markets, industries and increase their production. The biggest query in here the second world war makes Us "The superpower".what going to make china as superpower .thats "digital currency" china another big move of China, they include McDonald’s, Starbucks, Subway on the list of foreign firms to test "digital currency".