It is a fascinating sight to see billionaires making bold statements when it comes to investments and acquisitions of other companies.Companies originating from First Wold countries often eye on second and third world countries to increase their revenue by capturing growing markets.
At the same time, the companies run by these billionaires also reply on the very second and third world countries for raw goods and cheap labour.
With coronavirus hit China announcing indefinite holidays for people working in industries and plants, many companies in the west are facing the heat.
Latest reports indicated that smartphone manufacturers might well increase the prices if the indefinite holiday period continues for workers in China.
Meanwhile, a new report claimed that as much as $81.1 Billion have been drubbed-off from 10 wealthiest people after global markets collapsed, thanks to the fears of coronavirus.The impact of coronavirus on global financial model is far more than initially expected.Many assumed China would be devastated due to coronavirus impact its economy.
However, the reality is that the entire world is slipping into an economic recession.Due to the impact of coronavirus, and the markets coming down crashing, 10 wealthiest businessmen accounted for a loss of Rs 5.86 Crores ($81.1 Billion) in the first 6 weeks of the new year.If the same trend continues, a global recession is expected as early as May 2020, against the initially thought November 2020.