Effects of coronavirus on world economy: Socio-psychological perspective

Abstract

China's COVID-19 pandemic threatens global health and economy. Given the disease's unknown course and probable economic ramifications, the world leader must develop an acceptable international monetary policy. This study examines how the coronavirus affects global economies to better understand its economic and human effects. The study examined the global economy and coronavirus effects. The economy and health dominated the investigation. Many Web items were acquired, audited five or more times, and reviewed. All-inclusive, and we used Asian Development Bank (ADB), World Bank, and World Health Organization (WHO) official sites for exams. The COVID-19 pandemic has had significant socio-psychological impacts worldwide. This article examines how the epidemic has influenced society's mental health, perceptions, and relationships. It highlights physical constraints' increase in social isolation and loneliness and the virus's unknown origins' anxiety and fear. Group discrimination and stigma have also grown. Mental health issues are rising, testing resilience and coping skills. Understanding and addressing these socio-psychological impacts helps build pandemic resistance.