Assignment- Outbreaks of infectious diseases affect the economy on a national and global level in a number of ways. One of the main ways is that it disrupts human labor from doing their work due to the high rates of infection and death, which therefore causes human capital to fall and negatively impacts the economy (Fu & Chang, 2021)

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Outbreaks of infectious diseases affect the economy on a national and global level in a number of ways. One of the main ways is that it disrupts human labor from doing their work due to the high rates of infection and death, which therefore causes human capital to fall and negatively impacts the economy (Fu & Chang, 2021). Moreover, it causes a fall in consumer demand, which leads to reduced growth of businesses and reduced imports and exports. Also, pandemics lead to an increase in public expenditure on research and development of vaccines and medication and healthcare in general. An indirect method that pandemics affect the economy is that it reduces the rates of higher education, thereby leading to a lower number of people who are able to have high-earning jobs and give back to the economy. The healthcare system of Taiwan responded to the Covid-19 pandemic by using the technology in cellphones to track people’s body heat, monitor their temperature, and enforce a quarantine if required. The healthcare system of the UK opted for a more relaxed approach, and mass closure of shops and restaurants was not enforced as early as in other European countries. In the UK, former healthcare workers were also provided re-training to aid the healthcare workers with the surge of cases. As South Korea had invested in emergency preparation, the country was able to make rapid efforts to reduce the death toll of the pandemic. These systems interacted with each other, as South Korea was able to provide testing kits to other countries and thereby aid other healthcare systems. Additionally, countries like Taiwan and South Korea were largely effective in their strategies, allowing other nations to learn from those strategies.

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