A crisis is looming at the doorstop of every nation as the coronavirus outbreak is breaking down the boundaries of what was considered to be solid and stapled as a norm of the modern world. We are witnessing how the paradigm of globalism is being shifted from a worldwide phenomenon into a scope of characteristics and definitions explained in history and economics textbooks.

What seemed to be unbreakable has shattered as countries are resorting to isolationism instead of mutual assistance in the face of a global threat. The fragile balance of globalization and the interconnection of nations through their mutual dependence on each other has been disrupted by a single event that halted the seemingly uninterruptible sequence and continuity of production in a key nation that the rest of the world relied upon. The outbreak of the coronavirus in China simply placed the world before the fact that global economies are not interdependent, but dependent on China, and if the latter sneezes, the rest of the world will say "bless you".

The human cost of the outbreak is still far from being tallied as the death toll is approaching the two hundred thousand mark and millions of people will be directly and indirectly affected by the consequences of the pandemic. The socio-economic landscape for most countries will feel the effects of the pandemic like an earthquake that will shatter families and make financial survival the most acute problem of the year and likely, the decade. It will take years to calculate the human impact of the virus, but the economic reality is already becoming painfully clear.

Not a single country will be spared from the effects of the pandemic in an economic sense, as major powerhouse economies will experience considerable drops in their GDP. The United States is predicted to lose over a quarter of its production in 2020. The Chinese economy will display its worst economic stats in the last decade and most European countries are sliding down into recession with every passing month of imposed quarantine restrictions.

The jobs that will be lost as a result of the economic downturn will be calculated in the millions, which will inevitably lead to a rise in social and psychological pressure on average citizens. Productivity of labor is likely to decrease under stress and markets will experience an unprecedented influx of labor that will have no vacancies to fill. The United States has already reached a historic landmark of three million unemployed and the number is set to rise in the coming quarters as major industries like the defense sector and electronics, highly dependent on Chinese manufacturing facilities that have been shut down, will be forced to lay off workers indefinitely. Governments will be hard pressed to juggle between social and industrial policies, making bailout packages for individual sectors limited.

The Southeast Asian region will not be spared from the impact of the outbreak as its key industries – the tourism sector, shipping and related industries – will experience a considerable drop in investment flows. The quarantine imposed by the largest touristic countries has left hotels, restaurants and tourism agencies with no fund inflows, and even forced them to pay out compensations for early bookings. The 2020 tourism season can be called cancelled or dead on arrival, as tourists will fear risking travelling to countries that had experienced coronavirus outbreaks, no matter the desire to spend time on a beach.

The economy of Thailand is heavily reliant on tourism, which takes up a seventeen percent share of national GDP. The loss of such an important source of income is undoubtedly to cut jobs and leave millions of locals without sources of income. The predicted ten percent drop of the country’s GDP is to be softened by measures taken by the local government, but they are likely to be too little.

But the loss of regular jobs on the market and the closure of hotels, resorts and restaurants does not mean that citizens will be left with no choice of generating income. There are industries that are constantly open for newcomers and exhibit income levels that outstrip those of office jobs.

The trading market is no longer a high entry threshold industry, as average citizens with even meager savings can learn the ropes of the trade through an endless variety of information sources and start on their way to earning on heightened market volatility, which is being observed in times of crisis.

Prospects From Binomo Thailand

One of the major platforms offering citizens of Thailand the opportunity to earn on heightened market volatility is the Binomo platform. The broker acts as a comprehensive platform offering anyone willing to trade the tools and instruments needed to catch market trends and reap the rewards.

The Binomo download Thailand section available on the Binomo website gives users the chance to install the application and start trading a variety of assets ranging from stocks and bonds to cryptocurrencies and commodities using a vast array of strategies. All operations on Binomo are safe and fraud-free, as the platform has been certified as a category "A" member by the International Trade Commission and has been recognized by a large number of awards in a range of categories.

Binomo Website Offering

The global Binomo website is available in 15 languages and works in over 130 countries worldwide. The Binomo Thailand section of the website gives all new users the chance to first try the platform’s functions and features for free through a demo version with a $1000 virtual currency balance.

After testing the platform in demo mode, users can start the registration procedure, which entails connecting an email address and providing personal credentials, such as passport details to comply with international KYC and AML policies. Once the account is created, users can top up their personal balances with as little as $10 or euros and start trading on orders as low as $1.

A variety of training tutorials and useful articles can also be found on the official Binomo website, which contains a large database of information on trading strategies, technical analysis instruments and tips and tricks developed by professional traders. The website also contains numerous guides for easy onboarding, explaining to new users the possibilities of the platform and its functions, such as deposit, withdrawal and much more.

Binomo App Advantages

The Binomo app is available both on desktop and mobile platforms, giving users of Android and iOS the chance to remain in the trade on-the-go. In addition, the Binomo application operates around the clock with no holidays or weekends.

Conclusion

The economy of Thailand will feel the effects of the coronavirus outbreak and millions will be left without income from traditional jobs. However, platforms like Binomo allow users to visit the Binomo download Thailand section of the platform’s official website and take advantage of market volatility to generate additional earnings. The opportunities for earning are open with Binomo Thailand and are global.