What N America and Europe need to start on now!

[Nadziratel]

March was only the beginning.

Maybe!

Perhaps on the contrary, April may be the beginning of the recovery period. Nobody believed that things would grow that big in January. Until the middle of March, the WHO did not take the situation seriously until the last stage. A treatment method to be found can start putting things back on track. Nobody can say that the effects of this bad times will not last for a while, but recovery will begin gradually.

[abhiseshakana]

Stop also implementing the economy at war and use war to turn the wheels of the economy because the American arms industry will continue to produce and contribute significant figures to American GDP.

American First, Make American great again is a good ambition, but regardless of who is responsible for this virus whether China or Europe, in the name of humanity, each country helps each other in the hope of mutual symbiosis in overcoming the corona pandemic.

We're just the victim of a capitalist system and globalization and to be honest, I don't think it will change anytime soon because it's all so ingrained in the world.

Agree, the effect of the great depression, the subprime mortgage crisis is clear evidence that the greed of capitalism must be borne by the American people and the whole world, while the frontman of capitalism remains rich. This is also evidence that laissez-faire has failed to sustain the economy.

What America needs to do from now on is to learn from history so as not to repeat the same mistakes in the future. As a barometer of the world economy indirectly through the US dollar has transferred the problem to all countries in the world. The world bears the economic problems of the United States.

Certainly, we will see some industries going back to producing locally to be less dependant but that will remain a minority and it won't make much difference.

Small changes have a big impact, I don't know how the policies of small and medium businesses in America are just that, the community there can start the consolidation of the bottom of the pyramid so that money rotates and benefits the economy of the lower classes and working class.

It's at the level of mentalities that we have to change and our perception of money. Capitalism was good for a growth economy but seeing how they turned it...

The existence of debt and interest practices encourage a person's courage to speculate. Money should only function as a means of payment so that money continues to spin and provide benefits to many people not concentrated in the hands of a handful of people who ultimately cause the economy to stall due to speculators. The action of speculation George Soros had brought an economic crisis in Southeast Asia in 1998, an example of the greed of the capitalist that brought suffering to millions of people.

[mindrust]

March was only the beginning.

Maybe!

Perhaps on the contrary, April may be the beginning of the recovery period. Nobody believed that things would grow that big in January. Until the middle of March, the WHO did not take the situation seriously until the last stage. A treatment method to be found can start putting things back on track. Nobody can say that the effects of this bad times will not last for a while, but recovery will begin gradually.

Recovery? You really believe that? Even the virus completely disappears tomorrow, its effects won't disappear. Millions of people have already lost their jobs. Millions. That's when the death count is below 100k (65k right now) and it is increasing.

The world will never be the same after this. Many companies will be bankrupt. (Especially airlines) Globalization has failed.

[davis196]

Producing our own pharmaceuticals,electronics and mining rare metals on own territory sounds good in theory,but in reality it will be way more expensive and probably not so efficient.
In this "NEW WORLD",where we produce everything in our countries,the costs of production will go up,so everything will be more expensive,while the salaries might stay the same(or they might go down).
Be ready for increasing levels of poverty.This might be the "new normal" for the western world.
Anyway,I don't think that the western countries will give up on globalization and close their borders forever.

[pugman]

Trump has already called for a $2 trillion spending bill for infrastructure. https://www.bloomberg.com/news/articles/2020-03-31/trump-calls-for-2-trillion-infrastructure-bill-to-create-jobs

It's not as crazy as it sounds given the unprecedented unemployment numbers. Infrastructure spending is a band-aid for that since it creates lots of temporary jobs.

Even if Trump has called for this 2 Trillion, its the expenditure cost to be used up until 2025, and right now nothing is going to start, cause there are more things required than just infrastructure. I am taking about basic essential needs, if every country goes for lockdowns on a longer period, we'll soon be out of food, and other resources at hand.

And besides, no one even knows when this whole infrastructure thing will even start, so I wouldn't keep my hopes up only based on this.

I'm less convinced about the manufacturing angle, although China's widespread defective medical products during this crisis was notable and could affect future demand for some Chinese-made products.

While, its a given that China is known for producing shit tier products, its still cheap, and that same reason is why every single country depends on them. If cost wasn't a factor, China would be long gone, same reason why most people still eat non-organic food.

Its going to take a lot, and expenses of trillions of dollars if any other country wants to emerge on top against Chinese markets. And right now, every country is suffering, while China is picking up bones and leftovers, and by the time this is over, and other countries reach a position to recover, China will be on top whether we like it or not.

[samcrypto]

March was only the beginning.

Maybe!

Perhaps on the contrary, April may be the beginning of the recovery period. Nobody believed that things would grow that big in January. Until the middle of March, the WHO did not take the situation seriously until the last stage. A treatment method to be found can start putting things back on track. Nobody can say that the effects of this bad times will not last for a while, but recovery will begin gradually.

The peak of the virus is yet to come and I think on this second quarter we will see a more case of the Covid19. We can only rise up again after the virus and of course if there’s a cure already but for now, many people are losing their job and many businesses are suffering big, even big companies are now struggling especially the airlines company.

[Febo]

What N America and Europe need to start on now!
Bring Back Certain Manufacturing
Build Infrastructure

1945-1973 Capitalism. It will happen. Expect much more expensive state and much higher taxes. Question is what will tax payers do. We are not in 1973 anymore.

[Cratoon]

Yeah well, probably not going to happen any time soon.

Seems like most of the economy now is investing, banks and top 100 companies.

[abhiseshakana]

While, its a given that China is known for producing shit tier products, its still cheap, and that same reason is why every single country depends on them. If cost wasn't a factor, China would be long gone, same reason why most people still eat non-organic food.

Its going to take a lot, and expenses of trillions of dollars if any other country wants to emerge on top against Chinese markets. And right now, every country is suffering, while China is picking up bones and leftovers, and by the time this is over, and other countries reach a position to recover, China will be on top whether we like it or not.

So far, world trade is still dominated by China. And the beginning as an imitating country becomes a country that is reliable in modifying a product so that it has added value. So that China is known as the World manufacturing center.

The competitive price factor is indeed a determining factor in the behavior of Chinese goods in the international market. Abundant resources, cheap labor, Chinese government support for foreign investment and also the ease of project funding are factors that support Chinese products having competitive prices.

One of the Chinese government's supports for the export of Chinese products is to deliberately devaluate or decrease the value of its currency. Yuan supplied, reproduced, washed into the market. The supply is propagated in the market through its large foreign exchange reserves. China does not want to be like the US whose currency is too strong, so that export competitiveness decreases because the price of goods is too expensive.

[el kaka22]

Well, tax payers and what they want to do depends on how they think their taxes are used and how well it is spend back to them. Look at USA state Vermont and Colarado for example, they do spend a decent amount of tax just like any other state but the amount of tax evasion is a lot less there, why? Because they believe their tax actually goes back to them, look at places that are in more south, like Texas or Kansas and what not, there are more people who are evading taxes there.

However the real trouble is the huge companies, companies like facebook who try to move to overseas to Ireland and what not to pay less taxes while making their profits in USA, look at the cruise ships right now, they literally moved their headquarters to Bahamas and so forth to avoid paying taxes but now asking for more money. So basically tax payers would pay their taxes, as long as they see others pay as well and it is used back to them.

[betty11]

Too late. The world is addicted to cheap man-power and low interest rates.

Never too late, USA, Europe and other nations of the world over dependent on the Chinese market is a dangerous one. People must be taught to lead a moderate life and the society must adjust to suit that. Companies that are domiciled i China should be returned back and the government and private companies should review labor terms, and reduce tax paid by these companies to ensure they remain i their indigenous countries otherwise we may soon be at the mercy of China as it's headed. 99% of my gadget are made in China.

[Hydrogen]

Bring Back Certain Manufacturing

• Similarly we need to start mining Rare Earth metals here in North America (Europe has some deposits as well).  These are vital to new technologies and for alternative energy (inc. electric cars).  We have to break down the barriers to opening rare earth mines, and to build the processing plants to turn the minerals into useful products (magnets, etc.).

I'm not certain if north america contains rare earth metal deposits. It might interest people to know afghanistan was said to have trillions of dollars worth of natural deposits. Which could be one reason why russia and later the united states tried so hard to occupy that country.

Yes, I understand that doing the above would drive costs of pharma and other products way up.  OK, but look at what COVID-19 has done to us re driving up costs!  The above suggestions would also create a lot of good jobs, many of them just the sort of STEM jobs that we apparently really need in addition to safeguarding our security.

Its not necessarily manufacturing itself which is expensive in the united states.

It may be more accurate to say america has the highest corporate taxes in the world coupled with a higher average cost of living. Both of which contribute to higher cost of labor. Making manufacturing prohibitive. Corporate tax cuts and reduced average cost of living both carry the potential to reduce cost of manufacturing which would allow america to be more competitive as a manufacturing base.

The issue could be easy to solve, if only we can accurately define the problem.

Rebuilding vital parts of our industrial base seems very important.  And time's a-wasting.  Let's get this started!

Build Infrastructure

The main issue with infrastructure. The government collects taxes specifically to maintain infrastructure. They collect road taxes, gas taxes, telecom taxes. And many other forms of infrastructure related taxation. Revenue which in theory is supposed to be spent on upgrading and maintaining roads, gas/petroleum infrastructure, internet and telecom infrastructure. Those infrastructure taxes are always diverted to other pet programs. This has been the standard trend for decades upon decades which is the reason why infrastructure is neglected and poorly maintained.

"The key is not predicting the future, but to be prepared for it"

-- Pericles (500 BC)

...

[exstasie]

I'm not certain if north america contains rare earth metal deposits. It might interest people to know afghanistan was said to have trillions of dollars worth of natural deposits. Which could be one reason why russia and later the united states tried so hard to occupy that country.

The war on Afghanistan was primarily about oil. Afghanistan is crucial to a central Asian pipeline system that bypasses Iran and Russia, which would bring cheap petroleum to the US and UK. http://news.bbc.co.uk/2/hi/south_asia/1626889.stm

It may be more accurate to say america has the highest corporate taxes in the world coupled with a higher average cost of living. Both of which contribute to higher cost of labor. Making manufacturing prohibitive. Corporate tax cuts and reduced average cost of living both carry the potential to reduce cost of manufacturing which would allow america to be more competitive as a manufacturing base.

https://www.npr.org/2017/08/07/541797699/fact-check-does-the-u-s-have-the-highest-corporate-tax-rate-in-the-world

If corporate tax rates are cut, how do you expect to replace that tax base? By cutting social entitlements?

I'm expecting the opposite. This pandemic is showcasing the frailty of the US health care system, which is mostly employer based. As unemployment becomes rampant, the number of uninsured is soaring. Meanwhile, insurance companies are planning on jacking up rates by up to 40%.
https://www.cnn.com/2020/04/11/health/nurse-last-words-coronavirus-patient-trnd/index.html

This situation is coming to a head. This may be the tipping point where the US finally moves towards universal healthcare.

[abhiseshakana]

"The key is not predicting the future, but to be prepared for it"

-- Pericles (500 BC)

...

As is happening in Indonesia today, many anti-mainstream economic observers explain that it is better for the rupiah to weaken significantly against the dollar by design than the rupiah to weaken against the dollar by accident. So it's different to see an economic failure by design or by accident.

For example, conducted by China, the weakening of the Yuan from a kind of ordinary people is seen as a weak economy even though it is China's strategy to keep its trade balance surplus even though the US is implementing a currency warfare.

[exstasie]

Trump's economic adviser Larry Kudlow is bullish about on-shoring of American businesses. He's even suggesting the US government should "pay the moving costs" for companies who want out of China:

The same day Japan announced that it would spend upwards of $2.2 billion to get its corporations out of China and either back home or spread throughout southeast Asia, White House National Economic Council Director Larry Kudlow said the U.S. should “pay the moving costs” of every American company that wants out of China.

“I would say, 100 percent immediate expensing across the board for plant, equipment, intellectual property, structures, renovations... In other words, if we had 100 percent immediate expensing, we would literally — literally pay the moving costs of American companies,” Kudlow said on the FOX Business Network's America Works Together Town Hall which aired on Thursday.

I have no idea how workable that is from a policy standpoint, but if nothing else I can agree with this:

“In thinking of the longer impact of this pandemic, I have a more bullish view of the long-term for the U.S. and a bearish view on China,” says Lily Fang, a professor of finance at INSEAD, a global business school outside of Paris. “I think there will be a massive onshoring especially for national security items,” she says. “China will be a loser in that. Post-pandemic, you will see a slow severing of ties between the U.S. and China.”

https://www.forbes.com/sites/kenrapoza/2020/04/10/kudlow-pay-the-moving-costs-of-american-companies-leaving-china/#111d5c0113c6

[Arkann]

One way or another, the entire current situation in the world depends primarily on the rate of spread of coronavirus.  On the one hand, in order to preserve the life and health of people, quarantine is needed, and on the other hand, this quarantine negatively affects business.  Some politicians have already stated that there are two options for overcoming this situation.  The first is to wait until the vaccine for coronavirus is created, but for this you need to wait at least six months.  And another option is to give people the opportunity to get sick with a coronavirus, they make the body itself struggle with this problem, and they will have to sacrifice many lives, and at the same time, the business will be able to work more or less somehow.  I’m just in shock and I don’t even know how to react to such statements of politicians.

[FanatMonet]

Returning some production to the United States from other countries is quite expensive. All of them were handed down due to rather high salaries and other financial indicators. Of course, they may return, but then they will need to sell drugs more expensively, and this will reduce demand. The only option is assistance from the government, which compensates for part of the costs.

[Subbir]

The price of every item should be reduced by not returning to any country's production N America and Europe got to start trading immediately. at present, things are decreasing consistently with things in the country People are unable to try any work. within the case of the trade agreement between America and Europe if they assist the helpless people of each country together then ordinary people can live normal lives.

[AniviaBtc]

Everything depends how long the crisis will last but I don't expect that something will change in dramatic way. People have very short memory and as soon as everything gets back to normal, people will forget everything they cry out now.

I think not, it is not that easy to forget what this pandemic brought to us because there are many people who are dying and many people who are suffering. Some people aren't that stable enough to sustain the lives and food of their family. Some people have no work and no pay, they are just relying on the government just to survive this quarantine.

We have different classes of lives, not all of us can afford a lot of supply and foods for a month, some are homeless and have nothing but clothes. We will never forget how disastrous this Covid-19 pandemic to all things here in the world. Economy crashes and the government is trying its best to manipulate and manage it properly.

Economy will suffer the worst and that will leave deep trace but again some will use this situation for their own benefit, both countries and individuals.

How can be an economy crash will be use as their own benefit? Governments are suffering most especially those who are countries that isn't completely developed. Those countries who are over-populated besides China, like India, they are the second largest population and they are having a hard time controlling their people.

[TheUltraElite]

Returning some production to the United States from other countries is quite expensive. All of them were handed down due to rather high salaries and other financial indicators.

The cheap labor comes from the third world countries though. Thats why the first world countries make sure to keep them in third world and not allow them to develop further and compete with them. It is a part of the world politics and policies. Though currently the divide is less known because everyone is cooperating if needed.

Of course, they may return, but then they will need to sell drugs more expensively, and this will reduce demand.

Thats called overthinking. People will suffer from this condition no matter a cure if found or not. It is currently a very grim situation.

The only option is assistance from the government, which compensates for part of the costs.

Governments are already doing what they can. People have to make comments sitting from home though without going to the real scenario, which is not called for.