ABSTRACT
The COVID-19 pandemic has had an all-round impact on the global economy. Whether in the economic dimensions of production, distribution, exchange, and consumption, or the economic analytical framework of supply and demand, all economic activities have been heavily hit by the pandemic in the short term, and a profound impact may also be felt gradually in the long run. The impact of the unexpected pandemic on the economy brought three changes in economic operation: change in economic trends, change in economic circle, and change of external impacts. In economics textbooks, impact on supply generally refers to an event that influences enterprise production costs, and thus influences cost to the enterprise to provide products and services. In the age of globalization, although different countries have taken social distancing and other prevention and control measures at different times, the results of these measures had only minor differences, such as the impact on labor supply due to reduction of social communications.
