An Autopsy of Dying Economies
Elite
A bat flapped it’s wings in Wuhan, China; a catastrophe occurred in Sri Lanka, Greece, Venezuela, and Zimbabwe. The devastating impact of COVID-19 on industries was most evident in the global tourism space. Since these economies relied heavily on tourism for inflow of foreign exchange, they now suffered the wrath of borderline poverty. And hence, the title.
A butterfly flapped it’s wings in Russia; an economic catastrophe happens in Zimbabwe and Venezuela. The tormenting Russia-Ukraine war lead to commodity price inflation which paved the path for global hyperinflation. And so, being welfare-oriented with a sheer lack of industrial infrastructure to boost GDP, Venezuela and Zimbabwe were neck deep in debts.
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