World is facing an ordeal due to COVID-19 and it continues to spread rapidly around the world. Many countries had gone for nationwide lockdown and the country borders are closed. More than 3 billion people around the world is under lock down. Economies around the world slumped down. Just as no industry operates in isolation, no economy operates in isolation.
COVID-19 has adversely impacted economy globally. The post-corona economy will take time for its resurgence. What should we do globally or nationally for its fast resurgence ?
A text about working in the post Covid-19:
Article Risques professionnels dans un monde du travail post-pandémique
Please review the following preprints and early stage research:
Preprint Coronavirus (COVID-19) the environment is recovering and the...
Economic recovers may take long time 1-5 years depending on the country. Insurance should play apart in economic resurgence. Countries did not close industries will recover fast.
In Uganda, our tea and other factories have been operating with guidelines of MOH or WHO. The problem is with tourism and enterainment industry face a challenge to recover.
The panic and fear across the globe is spreading faster than globe. This virus has not only limited the demand side of the market but supply chain has also hampered equally.
From Monday (3rd May, 2020), Indian industries will start operating partially. But there is uncertainty in businesses now. Cash flows are badly affected. Major projects are slowed down or put on hold. The announced projects are being reviewed again....Not good signs for resurgence of Economy.
First to start with Covid recovery .
Government should start supporting by making banks to lend money to businesses at lower rates of interest ..
Which would help the industries to increase the line of production without causing a rise to the price of the finished goods ( as it was before) or even can lower the rate of the product to make an increase in sales..
More sales with less margin..eventually the economy will gain itself ..
In no time everything will be back on track as before..
Dear Gautam Sennimalai Gounder Palaniswamy , I really appreciate your valuable suggestions. I too agree with you.
Dispersing production sites is one of the effective countermeasures to spread risk. However, locally accelerate robot automation can meet the restriction of COVID-19, that will be more rapid and cost-cutting revive marketing activities, such as medical pharmacy, handling and loading, catering services, audio and video selection, revenue and expenditure transactions etc.
Chung-Cheng Fu It is a good thought but we are talking about the crash and survival .. Robots are not cheap and they do not need any food for survival but in the other hand there is no money for robots. Moreover people are the ones looking for survival and if automated in every sector there wont be any good need for labour . so I think you should consider the consequences and funding part too.
Gautam Sennimalai Gounder Palaniswamy It is nice structural and conceptual point of view. Actually, I focused at industrial area seeking a way to survive and resurgence at first. In case rich area smoothly reviving and growing in time, the revival area can offer New Marshall Plan, will implement helps and aids in developing and surviving area.
It would be great resurgence during COVID-19 epidemic pandemic. SoLoMo, short for social-local-mobile, refer to more mobile devices create additional services function at local connection network. SoLoMo emerged as a result of the growing popularity of smartphones, and provides greater local food, grocery and even video transactions under social distance rule than what's available via speed-delivery services.
Time period of resurgence depends upon the progress on the vaccination front. We have to learn to live with COVID19. Restructuring and consolidation will take place for survival and sustainability. We have to unlearn the conventional ways and move with new skills and technology to connect with the stakeholders. Stimulus packages can help in initialal recovery and growth may take v shape curve depending upon the right policy framework when minimum needs of the society are taken careoff. The industries more dependent upon international supply chain will take a longer to recover.
Dear Narendra Singh Sir - Thanks a lot for your valuable insights. You have really touched many aspects linked with economy in less words. Yes, early tested vaccination for COVID-19 will help for fast resurgence of Economy.
I also fully agree with you that survival and sustainability will not be possible now without "Restructuring & Consolidation". COVID-19 is really changing human behaviors today and forcing the organizations to respond. Virtual will now be reality. Every business will now need to understand how it can be part of a new health ecosystem that will dominate citizen thinking. Unlearn to learn new things, skills will now become mandatory not only for organizations but also for individuals for survival.
Thanks again for your contribution to this discussion.
The global division of labor, protectionism, scientific and technological research and development, and fiscal policy will all change under COVID-19 pandemic, and new global economic behavior will be different from 2020. In other words, political economics dominates future global trade, and the distribution of entire resources changes.
The current period of the SARS-CoV-2 Koronavirus pandemic is a very difficult period for many enterprises. The forecasts of many research centers show that in the coming months economic growth will drop in many countries by several or even a dozen or so percent. In the media dealing with economic issues, one of the main topics is the issue of the economic crisis, which is now developing and deepening in many countries. Many tourism, hotel, catering, cosmetics, etc. businesses are currently losing most, almost all, or all customers because people are worried about SARS-CoV-2 coronavirus infection causing Covid-19 disease, and this is also associated with various mobility restrictions away from home and with a warrant or recommendation to stay at home as part of preventive quarantine in many countries. As a result, many companies are already recording large declines in sales and profits, limiting employment and / or stopping their business. In connection with systemic anti-pandemic and sanitary safety instruments introduced in many countries (e.g. home quarantine, restriction of activity or order to temporarily suspend economic activity), especially those enterprises which, due to the specificity of their organization of business activity and / or product offerings and / or services could not or have not yet managed to launch their own online communication platforms, transactional platforms or online stores are currently experiencing the largest decrease in sales revenues and have financial problems. Many sectors and branches of the economy, including services and production sectors, in many highly developed and developing economies are currently developing much slower due to the SARS-CoV-2 Coronavirus pandemic. Production is falling, unemployment is rising, and economic growth is falling strongly. An economic recession has already appeared in a significant proportion of the economies. The economic effects are so serious that the current economic crisis is even compared to the Great Depression of the 1930s in many countries. In view of the above, more and more economic data indicate that the current global economic crisis caused by the SARS-CoV-2 coronavirus pandemic (causing Covid-19 disease) may be as deep as the Great Depression of the 1930s. Therefore, it is urgent to improve and implement into business processes instruments for activating entrepreneurship, maintaining jobs, subsidies to maintain business continuity, etc. as part of interventionist, anti-crisis socio-economic policy. In this matter, continuous cooperation of organizations of entrepreneurs, e.g. regional, sectoral and national chambers of commerce, with parliamentary committees, public institutions representing legislative bodies and with the government is important. Good, effective cooperation in this matter significantly contributes to the rapid creation and implementation into the economy of specific anti-crisis instruments for activating entrepreneurship, consumption, production, service provision, etc.
Greetings,
Dariusz Prokopowicz
The COVID-19 pandemic has pushed the world into a recession. For 2020 it will be worse than the global financial crisis. The economic damage is mounting across all countries, tracking the sharp rise in new infections and containment measures put in place by governments.
Changes presents in front of us under used to things. In reality, related side effects have been acting and reacting once again during window period of COVID-19 pandemic. It would be pop-up new business style in the future regardless the COVID-19 affection.
Dear Deepak Verma ,
very good topic for discussion.
I suggest that you check this discussion as well.
https://www.researchgate.net/post/How_will_different_business_sectors_be_affected_by_covid_crisis_and_how_should_they_cope_to_stay_afloat
Kind regards,
Perhaps the SARS-CoV-2 coronavirus (pandemic Covid-19) pandemic is currently falling into decline and may be in decline in a few weeks. However, the economic crisis and the decline in economic growth will last much longer. However, how long the economic crisis or a significant downturn will last depends on many factors, including the scale of pandemic development, the scale of compliance by citizens with anti-pandemic and sanitary safety recommendations and instruments, the scale of the impact of a pandemic on economic processes in individual sectors and branches of the economy, anti-crisis instruments of interventionist socio-economic, budgetary, fiscal, monetary policy, etc., financial consequences including the scale of public debt increase in the system of public finances of the state in connection with the launch of the said anti-crisis state intervention; maturity dates of treasury bonds and the type of domestic and international financial markets on which these securities operate in secondary trading; the role of central banking in terms of servicing and buying back those securities that were used to finance specific anti-crisis instruments of interventionist economic policy, etc.
Greetings,
Dariusz Prokopowicz
To encourage discussion of the economic impact generated by the SARS-CoV-2 virus, and the control measures taken at the international level, we invite you to read the following article.
Economy or Health, Constant Dilemma in Times of Pandemic: The Case of Coronavirus Disease 2019 (COVID-19). Journal of Pure and Applied Microbiology, 2020. DOI: 10.22207/JPAM.14.SPL1.07
Article Economy or Health, Constant Dilemma in Times of Pandemic: Th...
In case the resurgence might focus on micro view of individual business of different category of product, industrial winners’ solution would be good practice in manufacturer and services oriented architecture in market under COVID-19 pandemic.
Preprint Coronavirus (COVID-19) the environment is recovering and the...
https://www.euronews.com/amp/2020/05/20/coronavirus-how-much-is-the-world-economy-expected-to-shrink
https://www.euronews.com/amp/2020/05/20/coronavirus-how-much-is-the-world-economy-expected-to-shrink
We wish the recover medicine will be going out as early as possible to save people's lifes.
The dollars’ resurgence might be postponed by couple of years later, it will bring us hopeless puzzle.
Deepak, the coronavirus crisis has dealt a heavy blow to regional, national and the global economic system as a whole. I think the actions needed at each of these levels have already begun to be taken in some areas more than in others. In the west, for example, the recently ended EU summit has shown the magnitude of the fiscal impetus needed to avert a total collapse of economies. The level of the recovery will range from one area to the other and it will also be partly dependent on the level of the economic scarring that has taken place as a result of COVID-19. I hope the recovery happens sooner rather than later to avert greater hardships on individuals and collectives' lives. Interesting...
The WTO has consolidated the global supply chain, but it took only 10 months for the supply chain to go from integration to fragmentation after COVID-19, and it is no surprise that the WTO has been marginalized, and the primary condition for economic and industrial recovery must be repaired, it is an inability to estimate the completion date.
We have put a comprehensive approach to this question in our book
Book COVID-19 The Untapped Solutions
I hope it would help
Mohamed
According to a study by the University of Chicago, the higher, the number of deaths from the outbreak, the less consumer activity becomes. The same is true at the national level. The fewer deaths per million people, the clearer the economic rebound will be. China's epidemic has slowed but there is a trade dispute, only to revive domestic consumption to improve the country's economy. The risk of a re-outbreak is not limited to the United States. Before the virus completely disappears, there is only one thing that is certain about the recovery, which is that the direction of recovery will continue to change.