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BENEFIT OF COMMONWEALTH”

India, Singapore, and Malaysia are the major sources of intra-commonwealth investment. The major investment is driven by India for intra-commonwealth if compared with the contribution of other countries (Khorana, Martínez-Zarzoso and Ali, 2021). It has also been determined that the most stable country is Australia than other countries of the commonwealth. The reduction is presented in the investment of commonwealth and it deceptive for Canada between 2005 to 2016.

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It is already substantial trade between the members of the commonwealth and these are raising importance for leveraging the influence of the commonwealth for high profitability. The member countries of the commonwealth are having the advantage of the inherent trade of intra-commonwealth. It is a unique factor that has not been driven through coordinating by the intervention policy like blocs of bilateral trading (Khorana, Martínez-Zarzoso and Ali, 2021). The increase in the capacity of productivity has improved the performance of intra trade in the specific member countries which will strengthen and empower the trade and investment flows of intra-commonwealth.

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Figure 5: intra-commonwealth and global exports of commonwealth

The countries of the commonwealth involve almost 54 countries and the pandemic has influenced these countries or economies. Throughout 2021, the populations in these types of countries capitulate around 20 million infections and it has been estimated the deaths of around one million people during this period. This diagram shows that the pandemic has been escorted by intra-commonwealth and global trade flows of the commonwealth (Khorana, Martínez-Zarzoso and Ali, 2021). The commonwealth economies and the trends of growth of the pre-pandemic have reduced by about 10%. The countries of the commonwealth are still managing or dealing with the virus while on the other hand, some other countries have restarted their production and trading activities.

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IMPACT OF COVID-19 PANDEMIC ON THE COUNTRIES OF COMMONWEALTH”

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IMPACT OF COVID-19 PANDEMIC ON THE COUNTRIES OF COMMONWEALTH”

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The pandemic has given the huge global shock of the unparalleled immensity with the distributing impact on the global or international trade flows. This has affected society, global economies, governments, and the business world. This has created huge uncertainties and financial crises which has led to port closure, lockdown, and international border (Ashiru-Oredope et al., 2020). During 2020, the international trade flows have a partial by 8 per cent and it is influencing the various countries or regions which heavily depends on the trade and growth structure. The Coronavirus has impacted the economic and trade impact on the countries or nations of the commonwealth. This has created a huge recession in the economies of the commonwealth and the GDP of the has been collapsed during the period of the pandemic by $1.45 trillion in one year. This means $345 billion admitted in the global exports of member nations and about $60 billion in the trade flow of intra-commonwealth (Ali, Fugazza and Vickers, 2020). The huge populations of the countries of the commonwealth mainly depend on the exports of commodities or products and recession has made the exports vulnerable to the economic in effectivity. The pandemic is a major concern in developing countries and commonwealth countries because of pre-existing systematic susceptibilities. The International Monetary Fund has forecasted or estimated the reduction in the prices of the products affects the trade of commonwealth countries (Ali, Fugazza and Vickers, 2020). The influence of the pandemic is very severe for the commonwealth nations as they are heavily depending on the exports of fuels, minerals, and agricultural commodities.

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Business management is the organization and coordination of business practices. The business manager supervises operations which can help the employees to reach their high productivity levels. The spread of the coronavirus pandemic had affected the operations of businesses. This has created various unpredicted economic crises around the world. This has also affected the commonwealth activities and it has mainly affected the supply chain of the commonwealth (Ashiru-Oredope et al., 2020). The outburst and the threat of the second wave of the pandemic have created many challenges in future for any such activities and the business world. The pandemic has provided new ways of continuing the businesses such as most businesses are shifting or adopting digitalization including the global or international trade. This Padlet will focus on evaluating the influence of the Covid-19 pandemic on the countries or nations of the commonwealth all over the world and it will also describe the impact of the pandemic on the exports of products and services of the intra-commonwealth. At last, it will determine the sources of future progress involving the benefits from the commonwealth.