Proceedings of the 9th Annual Meeting of Risk Analysis Council of China Association for Disaster Prevention (RAC 2020)

Analysis of Industrial Response Mechanism of COVID-19 Risk Impact

Authors
Run Chai, Xiaolin Li
Corresponding Author
Xiaolin Li
Available Online 12 April 2021.
DOI
https://doi.org/10.2991/aebmr.k.210409.002How to use a DOI?
Keywords
COVID-19 risk impact, Industry response, Influence mechanism
Abstract
In January 2020, COVID-19 suddenly broke out, then Wuhan province had to be isolated and people had to observe home quarantine in China. The epidemic led to instantaneous closure of the business catering, entertainment, tourism and other service industries. Most of the traffic was interrupted, enterprises were shut down, and economic activities almost stopped. This paper uses grey prediction and event analysis to establish a model and finds that, (1) in the short term, the response sequence of among related industries is service industry, industrial and commercial enterprises, and then agriculture. (2) the general industry will tend to balance for a long time, and the impact is not big. (3) the epidemic exposed the weakness of emergency management and rapid response mechanism in megacities. Therefore, the government should initiated emergency response, and use the strategic resources reserve to ensure that economic and social resources are tilted to the normal production and operation of the epidemic related industries. Through fiscal and monetary counter-cyclical regulation, the government supports the classified management of various industries and the gradual resumption of production, supports the replacement and upgrading of high-tech industries over traditional industries, and reduces the impact of the overall economy caused by industrial emergency imbalance.
Open Access
This is an open access article distributed under the CC BY-NC license.

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Cite this article

TY  - CONF
AU  - Run Chai
AU  - Xiaolin Li
PY  - 2021
DA  - 2021/04/12
TI  - Analysis of Industrial Response Mechanism of COVID-19 Risk Impact
BT  - Proceedings of the 9th Annual Meeting of Risk Analysis Council of China Association for Disaster Prevention (RAC 2020)
PB  - Atlantis Press
SP  - 15
EP  - 20
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.210409.002
DO  - https://doi.org/10.2991/aebmr.k.210409.002
ID  - Chai2021
ER  -