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Home Business Edge

The global economy declining at a rapid rate for almost everything

Since the coronavirus outbreak, the countries have been facing a pause at everything which has led to an extreme downfall in the economy

The Edge Media by The Edge Media
4 years ago
in Business Edge, Main Story, World Edge
Reading Time: 1 min read
0
The global economy declining at a rapid rate for almost everything

Image source: Pharmaceutical technology

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In the last year, as the pandemic devastated the country, there were people panicking all around the world. This led to people buying different products at a large rate. At this time, the virus has returned and the companies are fiercely stocking up the products. Each and every manufacturer is buying more raw materials than usual. They have a fear of not producing fulfilling products and a fear of running out. The sudden increase in the buying of the products are pulling up the supply and at a brink of clutching up. This is raising concern that the global economy will fuel inflation.

The difference between last year and this year is that the disordering of the supplies is the thorough magnitude. As far as anyone can tell, there is no clear end in sight. Only a few companies are left, be it big or small. Right now, California is dealing with lack of Aluminium and later on many countries are bound to face the scarcity of the raw materials.

Tags: CaliforniacountriesdownfalleconomyindustriesPandemicraw materialstockingsupplyworld economy
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