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Will coronavirus destroy the global economy?
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As global industry shuts down, so does the economy

With factories and offices being closed to limit the spread of the virus, global economic collapse is unavoidable.
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The Argument

China is a major part of the global supply chain. Companies like Apple and Huawei - who rely on trade with China to maintain distribution - have already experienced disruptions in their earnings.[1] China is also one of the largest importers of oil in the world, meaning that global oil demand has decreased significantly.[2] Many of developing or emerging economies are deeply affected, and so are especially vulnerable to change and volatility.[3] China is shutting down major parts of its industry. When Chinese industry shuts down, so does global industry. When global industry shuts down, so does the global economy.

Counter arguments

Premises

[P1] Chinese industry is a major part of global industry. [P2] As Chinese industry shuts down due to coronavirus, so does global industry. [P3] This causes severe damage to the global economy.

Rejecting the premises

References

  1. https://thehill.com/opinion/finance/483899-chinas-coronavirus-economic-cardiac-arrest
  2. https://www.weforum.org/agenda/2020/02/coronavirus-economic-effects-global-economy-trade-travel/
  3. https://www.bbc.co.uk/news/business-51386575
This page was last edited on Wednesday, 4 Mar 2020 at 11:37 UTC

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