reply The outbreak has devastated more than 100,000 small businesses in the United States

The global spread of covid-19 has severely affected economic activity across the world, with the number of corporate bankruptcies still rising sharply in the us, Europe and Japan despite a series of economic rescue programmes launched by governments around the world.Corporate bankruptcies have soaredUnder the influence of the epidemic, non-essential business activities were suspended, and catering, retail, hotel, tourism and other industries suffered. The number of U.S. companies filing for bankruptcy protection rose 18% in March from a year earlier, according to the American bankruptcy association. According to a report from the national federation of independent business, 50 percent of small businesses are likely to survive less than two months in the current economic climate. According to the Washington post, a joint report by the university of Illinois, harvard business school and the university of Chicago said that since the outbreak began in early march in the United States, more than 100,000 small businesses have closed permanently, accounting for 2 percent of the total number of small businesses in the United States.In Japan, the kyodo news agency quoted the data released by the Tokyo business survey company on April 13. The total number of bankrupt enterprises in Japan reached 743 in April, up 15.2% year on year. The growth rate has reached double digits for five consecutive months. Total corporate debt rose 35.6 percent to 144.99 billion yen. By sector, the biggest growth was in services such as accommodation and catering, which rose 17.1 percent to 253. Analysts believe the number of bankruptcies will continue to rise in the future because of the weak business base of small and medium-sized enterprises (smes), which is already suffering from a shortage of workers due to wage increases and falling consumption caused by a rise in consumption tax.Corporate bankruptcies are also rife in Europe. Several European regional airlines and budget carriers have filed for bankruptcy or protection.An earlier survey by the German chamber of commerce and industry showed that almost a fifth of German companies believed they were at risk of bankruptcy, and more than a quarter expected sales to fall by at least 50 per cent this year. The restaurant industry has all but shut down, hurting the wine industry. The German brewers' association estimates that there could be mass bankruptcies among the country's 1,500 breweries.Although Lombardy is the most developed region in Italy, its overall market revenue will fall by about 40 percent in 2020 compared with 2019, and many small and medium-sized family businesses are facing the risk of bankruptcy, according to a report by the business association of Lombardy.According to a report by credit insurer Coface, quoted by le figaro in April, the global rate of corporate bankruptcies will rise by 25 per cent in 2020, with the us, UK, France, Italy, Spain and Germany rising by 39 per cent, 33 per cent, 15 per cent, 18 per cent, 22 per cent and 11 per cent, respectively.Big companies are not immuneSmall and medium-sized enterprises with weak ability to resist risks are the first ones to be greatly affected in the epidemic. However, some large enterprises are not immune.More than 90 percent of Lufthansa's fleet is grounded, losing about 1 million euros an hour, and its cash reserves will last only about six months. Lufthansa is currently in talks with the German government over a 9 billion euro rescue package that could lead to the airline considering bankruptcy protection if it does not get a bailout. Fraiby airlines, Europe's largest regional airline, went into receivership on March 5, grounding all flights.Larger U.S. retailers are also struggling with a sharp drop in revenue. Niemann, a century-old department store, has filed for bankruptcy, j.c. penney is considering filing for bankruptcy protection, and True Religion, a jeans maker, has filed for bankruptcy.The sharp decline in the crude oil market has put U.S. energy companies in an unprecedented predicament. In April, whiting petroleum, a listed company in the us shale oil and gas industry, filed for bankruptcy, becoming the first oil giant to fall in the oil war. Shortly thereafter, diamond, an American offshore drilling company, filed for bankruptcy protection. Under the pressure of low oil prices and the epidemic, the U.S. energy industry will face a severe test this year.Between January and April 1, seven north American oil and gas producers filed for bankruptcy, according to a houston-based law firm.Government aid is still neededIn the face of difficulties, companies in various countries have both rescued themselves and looked to governments for help. Governments in the us, Europe and Japan have responded to the impact of the outbreak with stimulus measures, some specifically targeting companies to ease the risk of bankruptcy and employment. However, the policy cannot cover all industries. On the other hand, the funds cannot be delivered in time due to various reasons, and the government is reluctant to provide assistance.For example, some states and municipalities in the United States are facing severe budget constraints and cannot get the subsidies in time. The us government is preparing to launch a programme to help the struggling oil industry after the collapse of five major us oil and gas companies within 30 days, but the federal reserve has said its lending programme will not confront insolvent oil companies.Europe's car industry is currently largely shut down and most companies have lost their revenue streams. German carmakers are said to lose €360m for every day they close.The conte government approved a long-delayed 55 billion euro stimulus package Friday to combat the economic impact of the outbreak and provide liquidity to businesses and families facing bankruptcy risk. It should be noted that tensions in Mr. Conte's ruling coalition have delayed spending plans originally known as the April decree for several weeks, and cabinet meetings have been changed several times. There are questions about when the details of the stimulus will be released and whether the money will be available.Italy's Moscow pickup in 12, said in a research report, if the economy is recovering from the outbreak of the speed too slow, liquidity and is not in place in time, is expected to Italy by the end of about 4 m travel firms will go bankrupt, turnover will lose about 10 billion euros, 184000 people will lose their jobs in the industry. Tourism accounts for about 13 percent of Italy's gross domestic product and about 15 percent of its work force.