Economy after COVID-19

[Vishnu.Reang]

I have been checking the posts made in this thread... IMO, all this discussion about a recovery is useless. We can't talk about the recovery, unless we know when this pandemic is going to peak. There are alarming predictions given out by various experts. One such prediction claims that there will be 300,000 cases per day by the next month in my country (India). If that is the case, then there will be a complete economic collapse and there won't be any recovery for at least the next 5 to 10 years.

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[Abiky]

I have been checking the posts made in this thread... IMO, all this discussion about a recovery is useless. We can't talk about the recovery, unless we know when this pandemic is going to peak. There are alarming predictions given out by various experts. One such prediction claims that there will be 300,000 cases per day by the next month in my country (India). If that is the case, then there will be a complete economic collapse and there won't be any recovery for at least the next 5 to 10 years.

Agree. First things first. We'd need to focus on defeating COVID-19, before we'll be able to talk about a recovery of the world's economy. Health is much more important than Economics, in my own opinion. Once everyone is in good health, the economy can prosper. But, enabling the economy when there isn't a proper vaccine or cure against the coronavirus disease, will turn out to be disastrous in the long run. Most governments don't care about this, since they value the "economy" more than people's health. A good example of this is the United States, where several States have opened their economies with no turning back.

At this pace, we can say that it might take decades before the world's economy is fully recovered. Everything will depend on the people themselves, whenever they'd want to follow necessary precautions to avoid further spread of COVID-19 or not. If people aren't following guidelines to prevent contagion, COVID-19 will continue to have a negative impact over the economy. Let's hope we all see the light at the end of the tunnel, once a vaccine is released next year (hopefully). Just my thoughts

[Raflesia]

I have been checking the posts made in this thread... IMO, all this discussion about a recovery is useless. We can't talk about the recovery, unless we know when this pandemic is going to peak. There are alarming predictions given out by various experts. One such prediction claims that there will be 300,000 cases per day by the next month in my country (India). If that is the case, then there will be a complete economic collapse and there won't be any recovery for at least the next 5 to 10 years.

Agree. First things first. We'd need to focus on defeating COVID-19, before we'll be able to talk about a recovery of the world's economy. Health is much more important than Economics, in my own opinion. Once everyone is in good health, the economy can prosper. But, enabling the economy when there isn't a proper vaccine or cure against the coronavirus disease, will turn out to be disastrous in the long run. Most governments don't care about this, since they value the "economy" more than people's health. A good example of this is the United States, where several States have opened their economies with no turning back.

At this pace, we can say that it might take decades before the world's economy is fully recovered. Everything will depend on the people themselves, whenever they'd want to follow necessary precautions to avoid further spread of COVID-19 or not. If people aren't following guidelines to prevent contagion, COVID-19 will continue to have a negative impact over the economy. Let's hope we all see the light at the end of the tunnel, once a vaccine is released next year (hopefully). Just my thoughts

Of course the economy is the heart of the country if this is not advanced then the country is bankrupt, it will still have to remain balanced with human health because that is what is more important to move the economy so smoothly as ever, but as it is the case of the corona virus continues to grow so this also complicating and the government is still opening up the economy in any field with limited objectives and may be partly disadvantaged for small businesses.

The United States is a highly industrialized country like other European countries so it will not back down in suppressing their economy and will continue to be opened as government income to finance the Covid-19 case.

[inoes]

If the corona virus ends, it is likely that the economy will recover, because one of the economic inhibiting factors has been lost. the existence of a crisis, or an outbreak will greatly impact the economy is real. as long as we follow the system, the presence of a central bank managed by the government will always be there. unless there is an example of a country that has successfully implemented a decentralized bank, there may be hopes that the central bank can be dissolved.

[Abiky]

If the corona virus ends, it is likely that the economy will recover, because one of the economic inhibiting factors has been lost. the existence of a crisis, or an outbreak will greatly impact the economy is real. as long as we follow the system, the presence of a central bank managed by the government will always be there. unless there is an example of a country that has successfully implemented a decentralized bank, there may be hopes that the central bank can be dissolved.

I don't think that central banks will be going anywhere, since they're still relevant in the mainstream world. With the adoption of Blockchain technology, Banks can still have a part in the mainstream economy. After COVID-19 ends, we'll see a "boom" in remote jobs, electronic transactions, and more. Even now, there has been an increase in digital transactions performed in the online world. The future of the economy will towards the "complete digitization" of assets and currencies, as countries around the world abandon physical cash in its entirety. The recovery of the world economy will be a slow and steady one, but everything will be back to normal in a decade from now (hopefully).

With patience, we'll be able to achieve good results in the future. Before we talk about the recovery of the world's economy, we need to focus on world health. As long as everyone's healthy, that's all that matters. The economy can then recover where it was before COVID-19 disrupted our society. One way or another, COVID-19 will truly change our lives in ways we've never imagined. Just my opinion

[Janation]

Covid-19 Completely Crashed World Economy there is no doubt but & it's it won't be recover soon.Mostly will suffer 3rd world developing country.So there need little bit help from rich country.  Hopefully all ends up well for everyone.

The problem though is that these rich countries are affected as well.

Also, don't forget that there are some 3rd world countries that flattened the curve in their country and already making plans or moves to regain their economy. Vietnam did well with the pandemic and they are already accepting tourists, they managed well the pandemic and that is really amazing.

[Twinkledoe]

Covid-19 Completely Crashed World Economy there is no doubt but & it's it won't be recover soon.Mostly will suffer 3rd world developing country.So there need little bit help from rich country.  Hopefully all ends up well for everyone.

The problem though is that these rich countries are affected as well.

Also, don't forget that there are some 3rd world countries that flattened the curve in their country and already making plans or moves to regain their economy. Vietnam did well with the pandemic and they are already accepting tourists, they managed well the pandemic and that is really amazing.

I am very positive that we will recover from this pandemic. As the effect is global, all of us are affected by this situation but just like any other pandemic that hit humanity before, we will rise from this situation. We always will. Just give it time, and soon we will get back on our feet. For now, just do what you can do at home to keep afloat in this crisis.

[YOSHIE]

M
How do you think the economy will be after COVID-19's demise?

the effect is that the world economy is very 'big' after Covid-19, at this moment, the world economy is bad enough, the reason is quite simple; what is happening right now, in my opinion, it's only natural to remember and obey the recommendations of the government to work at home.

If everything returns to normal, I think to restore the world economy not too long, because it does not damage the infrastructure / buildings & offices.

[pragna]

How do you think the economy will be after COVID-19's demise?

There is no doubt that there will be a massive change in economic and normal transaction system in our day to day life. Many days people was adopt to one way transaction but after nCOVID-19 people now thinking with alternative way and people are bond to think alternative way. Now people get new life of transaction by digital transaction where there was monotony in one transaction system. Its normal that in future health degister will happen more and more as we destroying natural geological system so from now people thinking alternative way to face this kind of digister. From this time people will go more for digital transaction so that crypto transaction may go for milestone record for next generation.

thanks.

[Janation]

Covid-19 Completely Crashed World Economy there is no doubt but & it's it won't be recover soon.Mostly will suffer 3rd world developing country.So there need little bit help from rich country.  Hopefully all ends up well for everyone.

The problem though is that these rich countries are affected as well.

Also, don't forget that there are some 3rd world countries that flattened the curve in their country and already making plans or moves to regain their economy. Vietnam did well with the pandemic and they are already accepting tourists, they managed well the pandemic and that is really amazing.

I am very positive that we will recover from this pandemic. As the effect is global, all of us are affected by this situation but just like any other pandemic that hit humanity before, we will rise from this situation. We always will. Just give it time, and soon we will get back on our feet. For now, just do what you can do at home to keep afloat in this crisis.

I hope we will as fast as we can.

The people in our country are starting hate the government officials for the mistakes they've made and some of them are even blaming the people for criticizing them. I hope the government and the people could hold hands to solve this matter. That would really make this faster.

[Abiky]

I am very positive that we will recover from this pandemic. As the effect is global, all of us are affected by this situation but just like any other pandemic that hit humanity before, we will rise from this situation. We always will. Just give it time, and soon we will get back on our feet. For now, just do what you can do at home to keep afloat in this crisis.

That's certainly true, mate. Based on the rate of COVID-19 infections, it may take a little longer than usual for everything to go back to the way it was. Maybe in a decade or two, we'll be remembering how COVID-19 changed our society for the better. While our economy will improve after the demise of COVID-19, it'll never be the same. Physical cash will be no more, while work and learning will be done remotely without physical interaction whatsoever. Bots on the other hand, will take care of many duties performed by humans today. Banks will still be relevant, but without human interaction. There will be no human bank tellers, other than a bot which takes care of everything for you. It'll be a whole new era where the economy goes 100% cashless like never before. This may sound crazy, but it's the way we're heading to as a result of COVID-19's impact on the mainstream economy.

In the meantime, let's hope that people recover from this dreaded disease. After that, we can talk about a fruitful economy that will last for a very long time. I'm sure that we'll reach the light at the end of the tunnel sooner or later. Remember, "good things come to those who wait". Just my thoughts

[Restmand]

With the ever-increasing need for social distancing, people are recurring to online payments and e-commerce sites. The longer it takes to find a cure for the disease, the faster our world will change economically. During the pandemic, people will be using credit/debit cards more than physical cash itself. It's no wonder since physical cash is known to carry germs and bacteria with them.

Now, imagine an scenario where the cure for COVID-19 have been found while people are directly attached to the online world. The economy might never be the same as before, since people will start to value intangible items over tangible ones more thoroughly. A world where everything is digitized or "tokenized" seems to be the economy of the future. By then, each country will have its own CBDC living alongside traditional cryptocurrencies we know and love today. China might be the first country to launch a CBDC, followed by the US and several other countries. The launch of government-backed digital currencies wasn't a subject that heavily touched by world leader before the pandemic. Now that coronavirus encourages social distancing, things will accelerate quite a bit in the development of CBDCs for the whole world to use.

How do you think the economy will be after COVID-19's demise? Will it gradually recover? Or will it stay the same? Will central banks collapse to a point where only people transact with decentralized cryptocurrencies in the free world? Your input will be greatly appreciated.

For sure after this pandemic our economy will no longer be stable as the same as before. A lots of business will not recover and many workers lost their jobs. Anyway, our government will gives us some alternatives in order to sustain lives. We all know it is very hard no one feels life is easy for now but we need to try our best to fix everything in order to sustain our living.

[Bezobraznike]

I agree with you that the economy will get worse after the epidemic experts say no one can say whether the country's economy, which has been hit by the epidemic will return to where it was in two or three years. The central banks have suffered a lot due to the downturn in the economy but again if miners increase their use it is possible but for this the government should be given more allocation in the economic sector.

   The economic consequences of Covid-19 call for urgent help, governments needs to support people and companies, it's
necessary. That is needed if we wish the economy to stay alive. And it's most of the governments are doing, they voted
for aid, and that aid is coming.
   I just hope it will be a fair distribution, that all small companies and people in real need will get this help, not just big
ones.

[finaleshot2016]

I believe our economy is going to be absolutely fine in 6-12 months if we won't see another quarantine in nearest future.
On the other hand if current situation will only get worse and we'll have to make another lockdown - we are going to face huge troubles

What about countries that are in debt? They can't recover easily especially those third world countries that are really affected like our country. I doubt our economy will recover after 6-12 months, maybe it'll take a lot of years to make our economy good again. There's a lot of affected here, especially business, and the only thing that benefits a lot is in the government position who clearly keeps having money even there's a pandemic. I also doubt that our government will handle this situation smoothly since they're prioritizing other matters than the pandemic so good luck to us here.

[SacriFries11]

I believe our economy is going to be absolutely fine in 6-12 months if we won't see another quarantine in nearest future.
On the other hand if current situation will only get worse and we'll have to make another lockdown - we are going to face huge troubles

We already seeing the economy slightly recover as businesses get back to new normal but we can’t denied the fact that some companies already shut down, projects got delayed and a lot of people don’t have work. There are some countries need to pay their debts which they loan at world banks in order to sustain the need of their people. There’s a possibility of lockdown in different areas where covid-19 continue to spread. It’s a good thing that cryptocurrency doesn’t hardly affected of this situation. The possibility of a second wave would happen if the covid-19 can’t contain.

[Metazen]

During the Covid-19 outbreak, many companies had the opportunity to experience different methods of working remotely. After the pandemic, we will see that working remotely has become more widely used, especially in the services sector. This experience can pave the way for large companies, especially in some departments, to purchase more services from the outside. Because of this reason many more people will doing online payments and use e-commerce sites.

[batang_bitcoin]

During the Covid-19 outbreak, many companies had the opportunity to experience different methods of working remotely. After the pandemic, we will see that working remotely has become more widely used, especially in the services sector. This experience can pave the way for large companies, especially in some departments, to purchase more services from the outside. Because of this reason many more people will doing online payments and use e-commerce sites.

If it's not because of covid19, companies will have a long time before adopting the new set and phase of working which is to work at home. On the companies perspective, this isn't going to work at all because they can't monitor their employees but the adoption setting of work at home has proven them to be wrong. They have saved a lot of money for the facilities and time because their employees can work at the comfort of their homes while being productive. Their IT people can monitor their employees if they're working productively by just installing some monitoring and reports tools.

[TrevorS]

During the Covid-19 outbreak, many companies had the opportunity to experience different methods of working remotely. After the pandemic, we will see that working remotely has become more widely used, especially in the services sector. This experience can pave the way for large companies, especially in some departments, to purchase more services from the outside. Because of this reason many more people will doing online payments and use e-commerce sites.

Remote work is not very beneficial for large companies, since a lot of them are based on team building. It is difficult to build a close-knit team moving towards one goal if all of them are located remotely.

[Axelseseclevz]

During the Covid-19 outbreak, many companies had the opportunity to experience different methods of working remotely. After the pandemic, we will see that working remotely has become more widely used, especially in the services sector. This experience can pave the way for large companies, especially in some departments, to purchase more services from the outside. Because of this reason many more people will doing online payments and use e-commerce sites.

Working remotely still not effective methods for some companies and business establishment because they can't monitor their employee and the time they will consume for working. After covid19 pandemic; economy will recover slowly until everything will go back to normal but it will need time.

[verita1]

Apparently the economy will be more digital and it is positive to penetrate more spaces with bitcoin and cryptocurrencies. Definitively, traditional banking needs to implement reforms and adapt to the present.
The covid19 has allowed us to interact in our activities taking into account social distancing. Already the large corporations worldwide are working remotely, which indicates that technological developments will be in search of the digitized world.