Abstract:

The COVID-19 virus, first seen in China’s Hubei state’s capital, Wuhan in December 2019, has become a global problem in a short time. The world economy has become a threat to its countries, and the concern has increased. The transition of this virus into a epidemic has produced economic negative consequences and has led to a change in the global economy. As a result of the spread of the virus, the major giants of the economy, the U.S. and China, mainly in Turkey, saw a noticeable decline in inflation and interest rates. Inflation, while the prices of goods and services increase, the interest is the additional income pen paid to the recipient outside the main money. After the inflation and interest rates that the decline of the epidemic, the second-largest Chinese economy in the world economy is affected by other countries as well. However, with the negative outcomes, it is unpredictable what the expectations will be. The study focused on U.S., China and Turkey’s economic variables by addressing inflation and interest values. This economic breakthrough that began in China has created a doll effect throughout the world. According to the data, the developments are in the same direction in all three countries. The impact of interest rates, the serious increase in inflation, the imbalances in money entries and outputs caused by the reduction in the volume of trade, the inconsistency in currencies, the reduction of up to 50% in the service sector, indicate that it has led to an unprecedented recession. The tensions between the U.S. and China, then the explosive epidemic, the change in the interest rate and inflation of the two countries, are a fact that will directly affect Turkey.

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