The Corona Virus (COVID-19) and its Butterfly Effect on the World Economy

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Chaos Theory > Forum > The Corona Virus (COVID-19) and its Butterfly Effect on the World Economy

🔥NEW The Corona Virus (COVID-19) and its Butterfly Effect on the World Economy
Heba, Business Consultant, Qatar, Premium Member

In chaos theory, the butterfly effect is the sensitive dependence on initial conditions in which a small change in one state of a deterministic nonlinear system can result in large differences in a later state. In simple wording, when applied to business, the butterfly effect means that small events sometimes yield large consequences. Compare also . China, the biggest factory on earth, is confronted with the current outbreak of the deadly nCOV found in Wuhan. And the world is witnessing a global decline in sales, stock markets, oil prices and a well-noticed shortage in supply chains and aviation activities that have a wide impact on the trade exchange across the globe. COVID-19 exposed a weak link in the global drug supply, automotive manufacturing, and other sectors. Being has become the objective and goal of a lot of businesses. But the question now is: how can we strengthen the resilience of our supply chains while maintaining the value and cost chains intact? Modern Port (...) Read more? Sign up for free
 

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