COVID-19's Spillover Effects, Winners, and Losers

COVID-19 hit the world deadly in early 2020. No only the virus is threathning the world, it also brings tremendous spillover effects changing our economies and communities.

Society:

• Anti-Chinese movement and hatred

• Isolation and loneliness for individuals. Losing connection. Harmful for mental health.

• Homelessness is nothing new in California. During this difficult time, “CA buying 1,300 trailers, leasing hundreds of hotel rooms”. Check out the news here.

Economy:

• 1 million labor in California filed for unemployment

• Old local restaurants closing, e.g. Boba guys. Cheesecake Factory cannot pay rents on April 1st.

• Small businesses are hit deeply. They cannot afford rent. The economy is slowing down.

• Productivity reduces and development slowing down due to working from home

Who are the winners and losers of COVID-19?

Winners: Zoom, potential investors, the healthcare industry in specific areas, and new business under this situation.

Losers: Non-essential business owners, self-employed, patients, elderly, and low wage workers. The Health healthcare system in America has been non-transparent and unbelievably expensive. Low-income class workers who are also endangered or losing their jobs might not have proper health insurance to get prompt medical needs.

This article provided a comprehensive list of who are the winners and losers. While the Senate passed a $2 trillion stimulus plan, stay tuned on more analysis on the stimulus plan!