Economy after COVID-19

[reliable]

We will be bound for recovery for sure, the world will slowly recover from the damage this pandemic has cause, it will be hard but as usual the world will recover. Our economy will be affected a lot, especially the small countries which will be heavily affected by this pandemic, most countries who are already in big debt problem might experience an increase of the problem, and the most surprising that I would expect to happen, world ranking based on economy might not be the same anymore.

We are in midst of an economic crisis in coming time or say recession is just around the corner as economy will be slow for next couple of year. Its going to be a real hard time for all the sectors and for the workers as well. Cost prices are going to rise, demand going to fall, purchasing power is going to fall etc.

[LogitechMouse]

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.

Many are using online payments already globally. They are using debit or credit card like you said when they are paying different things or if they want to order a delicious foods on fastfoods, they will pay it online.

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.

I believe that Economy after this pandemic will change drastically and as the pandemic takes more time, more and  more establishments will close because of bankruptcy especially for those small to medium enterprises. Maybe there will be some who will continue to pay thru online but still there will be some people who are using cash maybe because they are more comfortable in using it. That is their way to pay things and they don't have access to some apps that you can use to pay online.

I don't think that central banks will collapse at this time. Many people are relying on them and lets accept it. They can support cryptocurrencies and in fact USA Central Bank are supporting it but they are not saying it indirectly.

[rodskee]

The use of electronic payment methods instead of paper money will increase due to maintaining social distance due to epidemics. People will be inclined towards electronic payments due to security reasons. But because of this epidemic, the whole world will fall into an extreme financial crisis. The economies of many countries have already collapsed, Now the biggest challenge for the world is to overcome this crisis.

Not only that instead many withdrawals or conversion happening now because of this pandemic,and those
 money exchange and banks are mostly in favor now,imagine how many
 withdrawals added to their daily operation because people
 needs more cash now than investing.


and also those Online deliveries are getting more and more income now.

I want to invest my remaining money in online business such as food deliveries or at least selling
essential items.


The most affected now are the labor system because companies and production now are lay offing
 their employees just to stay in business.

[arallmuus]

Economy after this pandemic will change drastically and as the pandemic takes more time, more and  more establishments will close because of bankruptcy especially for those small to medium enterprises.

It was bound to happen to majority of the country, especially those that live in a third world country might suffer more compared to those that dont. The problem with it is that, there are alot more people that live in such third world country therefore it will be hard to recover the country's economy aspect after the pandemic

That of course considering if the country actually could recover from the pandemic because with higher number of people, that means the infection rate is higher as well. Not every country is on lockdown so the infection rate could be increasing as we speak

For such country, there are two major concern about the pandemic. First is the economy aspect and the second is health aspect, locking down the country means sacrificing the economy aspect and also vice versa therefore some / most country choose not to go with complete lockdown to maintain both economy and health aspect at the same time

[Paycoinzzz]

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.

I think the economy will recover the slowest we've ever seen. Because the Corona virus spreads very quickly and is likely to be positive again, this will make many people suspicious and still afraid to work. Besides, the restaurants, travel services also have to consider a lot when operating again. Another bad thing is that social isolation will make customers' spending habits change. After this season, they will not want to shop more and use less luxurious services. That's the worst thing to be predicted in the future of European and Asian economies.

[Assface16678]

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.

I think the economy will recover the slowest we've ever seen. Because the Corona virus spreads very quickly and is likely to be positive again, this will make many people suspicious and still afraid to work. Besides, the restaurants, travel services also have to consider a lot when operating again. Another bad thing is that social isolation will make customers' spending habits change. After this season, they will not want to shop more and use less luxurious services. That's the worst thing to be predicted in the future of European and Asian economies.

It takes time before the market of the whole economy brings back to normal before the lack down and the virus are spreading there is a lot of countries ignore this kind of pandemic outbreak which they focus on the GDP and the earnings for their country and some of these countries now are already infected and their economy is rapidly falling on this.  Today they are now slowly recovering because some of the cases of the people of the number of infected but still some of the places are restricted and having trouble on their transactions of import and export that causes again to have trouble it causes of shortage of the supply on the different places because some of them don't want to operate for the meantime to avoid this. Now some of the countries have a lightweight problem that is giving some gifts like foods and other things needed into the infected countries which are good as a reflection that even there is a crisis we can still help other people.

[coinfinger]

Yes sure, anyone that is able to build a solid online job at this time that is bringing steady income will no longer see the need to go out and look for a job after this is over. They will prefer to stay home and do their job and make money than leaving to look for a job. But despite that, I don't think there will be much change, the whole world cannot be working online.

There will still be lots of people who will get back to the normal jobs they have been doing before. This pandemic has showed us most of the jobs could be done within home still many services related things need people to come to a workplace like factories or banks. Only management, teaching and coding/designing kind of things supported people to stay within home and people who are into other jobs must needed to get out of their home to make their economy stable.

[thesmallgod]

After the economy recession that hit the world in early 2000, Many countries have learn their lesson and they have adopted strategic way in case of future occurrence so I believe the economy will pick up rapidly after this global pandemic. We have already seen so many countries thinking of printing more currencies to minimize the risk while countries like china have resume back manufacturing and doing some other activities. The only countries that might be difficult to recover quickly are those poor African countries that depend mostly on import materials

[verita1]

After the coronavirus, the fate of the economy is uncertain. I hope it is not as negative as we expect it to be. Right now the global infected person curve is not flattening. Which means that we are far from seeing the global economy reactivate.

Only in countries where contagion is less can we start the engines. What is true is that after all this nightmare ends we are going to work like never before to live in full freedom with a sad lesson that will make us change in various aspects of life.

[mousam]

Future of IT companies In India after COVID-19

We all know that in India IT industry Ranks one of the most valuable industries
The IT-BPM sector in India stood at US$177 billion in 2019 witnessing a growth of 6.1 percent year-on-year and is estimated that the size of the industry will grow to US$ 350 billion by 2025. India’s IT & ITeS industry grew to US$ 181 billion in 2018-19. Exports from the industry increased to US$ 137 billion in FY19 while domestic revenues (including hardware) advanced to US$ 44 billion. IT industry employs 4.1 million people as of FY19.
Spending on information technology in India is expected to reach
Revenue from digital segment is expected to comprise 38 percent of the forecasted US$ 350 billion industry revenue by 2025.
But
After COVID-19 we can’t expect that even in our dream
90% of IT jobs are foreign client base jobs where US hold 50% and Europe holds 40% & rest 10% is from India and other nations.
Now the question is who will going to lose their jobs.
If you study carefully all the geographical aspects as well as the cost of living of each city.
You will find that most of the costly cities have the IT sector except one. i.e. Kolkata. Where same work is done by an IT professional of Bengaluru fetches more salary than a professional of Kolkata.And it is obvious that foreign clients will not pay that much what they paid in earlier. According to this data, we can ensure that employees living in costly cities are carrying more risk than an employees of less costly cites.

As per PTI nearly 20% of IT employees of https://www.thecn24.com/IT industries are going to lose their job.

Now the question is where you belong to?

[Leviathan.007]

I would like start with quoting "The world after crisis will never be the same" by Henry Kissinger. I think the crisis will damaging the economics but after ending of the crisis economy war will be started as we all know all governments are developing vaccine but this won't be free at lest not for foreign countries this is just one example for the economy fight after the Covid-19.
In the other hand, I believe if crypto survive after the crisis and bitcoin's price rise a few months after the halving (I think it will), crypto will be much more populated since all other countries are fighting for their own economies.

[Renampun]

economic recovery in some countries is clearly not the same...
developing countries with a home industry as support will definitely be difficult to come back, I see the home industry currently affected, the big business may survive, but the home industry is difficult to survive in this epidemic.

[Bezobraznike]

economic recovery in some countries is clearly not the same...
developing countries with a home industry as support will definitely be difficult to come back, I see the home industry currently affected, the big business may survive, but the home industry is difficult to survive in this epidemic.

   It's going slow, and to add that many still don't work. Today I read about pub's
in Scotland and Ireland, they had to throw away all that beer, it can't stay more then
3 months in barrels! They couldn't work, so beer left. More then 7000 pub's is in
huge problem, their workers and families.
   I don't know what will people do, we can hope that they will get trough this safe.

[elisabetheva]

economic recovery in some countries is clearly not the same...
developing countries with a home industry as support will definitely be difficult to come back, I see the home industry currently affected, the big business may survive, but the home industry is difficult to survive in this epidemic.

   It's going slow, and to add that many still don't work. Today I read about pub's
in Scotland and Ireland, they had to throw away all that beer, it can't stay more then
3 months in barrels! They couldn't work, so beer left. More then 7000 pub's is in
huge problem, their workers and families.
   I don't know what will people do, we can hope that they will get trough this safe.

what will greatly affect developing countries that do not have foreign exchange reserves to continue the economy after the pandemic ends. because obviously they will need the help of developed countries to be able to provide financial assistance and so that they can run the economy well again. even if there is no assistance they might borrow from the IMF which of course will also regulate all its economies. Even oil exporting countries are also in a state of difficulties because the oil produced cannot be absorbed by the market and production must not stop, resulting in market prices falling drastically or even worthless. but the problem is that the pandemic is not known how long it will end because only drugs and vaccines can stop it.

[Mauser]

Who knows when COVID-19 will be contained and how many rounds of mutation we will face.

But once all is over I think we see the old trend continue - higher growth rates in Asia with a very slow recovery in the West. Europe in particular is just lagging behind in innovation and investments. With the poilitical turmoil on top, the outlook for the developed nations is not bright.  I would keep investing in emerging markets. 

[gantez]

economic recovery in some countries is clearly not the same...
developing countries with a home industry as support will definitely be difficult to come back, I see the home industry currently affected, the big business may survive, but the home industry is difficult to survive in this epidemic.

What do you really mean by home industry? Are you talking of the movie industry or what?
Anyway, if you mean that, I don't think so. Industries that will suffer more are the ones that are now providing services to patient of covid-19 especially the hospitals. A country that doesn't have good health system will suffer now and later.

[Abiky]

It doesn't mean that if we say "digital", it means that people are now using cryptocurrencies.

The central bank will always be considered as primarily used for any payment. It's just in another form which is cashless.

Bank transfer today just takes up a second before the other party will receive it. So fast and convenient.

I'm into crypto but that's the reality.

That's certainly true, mate. Most people are already using digital payments through credit/debit cards or ACH bank transfers. Adopting a CBDC will be no different than doing so with already-established payment methods of today. The end user will notice little to no difference when performing transactions in the mainstream world via digital Fiat. I guess that the benefits will mostly apply to central banks themselves as they enjoy greater efficiency at a fraction of the cost via the use of Blockchain technology.

One thing for sure, is that we'll be transitioning into fully contactless payments after the end of COVID-19. People will be accustomed in working remotely and using digital payments, that they will not go back to how things were before the pandemic. Our world will not only change economically, but also socially and politically. It'll be a radical transformation as we enter "The Fourth Industrial Revolution". COVID-19 has accelerated the development of new technologies in ways that we've never imagined. Sooner or later, physical cash will no longer exist leaving credit/debit cards or digital Fiat in the lead. Old people may find it challenging to perform digital payments, while that won't be the case with young people.

Eventually, everyone will end up using their Fiat currency of choice in a completely digital manner. CBDCs could either live on a global public blockchain network, or one of their own (private). Considering that Ripple has made a lot of bank partnerships over the years, the XRP Ledger looks like the ideal candidate for CBDCs worldwide. Governments could either turn into Blockchain technology, or simply rely on centralized databases for their own digital currencies. Whichever way they decide to go, we cannot deny that our economy will drastically experience a boost in a new way after the demise of COVID-19. Just my thoughts

[Sanugarid]

It doesn't mean that if we say "digital", it means that people are now using cryptocurrencies.

The central bank will always be considered as primarily used for any payment. It's just in another form which is cashless.

Bank transfer today just takes up a second before the other party will receive it. So fast and convenient.

I'm into crypto but that's the reality.

That's certainly true, mate. Most people are already using digital payments through credit/debit cards or ACH bank transfers. Adopting a CBDC will be no different than doing so with already-established payment methods of today. The end user will notice little to no difference when performing transactions in the mainstream world via digital Fiat. I guess that the benefits will mostly apply to central banks themselves as they enjoy greater efficiency at a fraction of the cost via the use of Blockchain technology.

It seems to me that the government is already putting up the best option for alternative payment, they are now in testing with Central Bank Digital Currency which might be the biggest threat on cryptocurrency adoption process. But the thing with CBDCs is that they are going to be centralized wherein the taxes is still there while cryptocurrency don't have any of that that might be the best defense from us plus the security that it can provide, we know that the blockchain has immutable data storage. Still, it will depend on the people they choose what they need to use.

One thing for sure, is that we'll be transitioning into fully contactless payments after the end of COVID-19. People will be accustomed in working remotely and using digital payments, that they will not go back to how things were before the pandemic. Our world will not only change economically, but also socially and politically. It'll be a radical transformation as we enter "The Fourth Industrial Revolution". COVID-19 has accelerated the development of new technologies in ways that we've never imagined. Sooner or later, physical cash will no longer exist leaving credit/debit cards or digital Fiat in the lead. Old people may find it challenging to perform digital payments, while that won't be the case with young people.

I think we are not going to have it "fully" since we don't have any of the system to handle it now, payment processors handling it themselves would need a lot of work, but this is not impossible to happen in 2 to 3 years especially when we defeat this pandemic. As our technology advances, my hope for cashless society is getting bigger, it's like a dream in a process to come true.

[smyslov]

Some countries and some companies will survive but most of the countries will have a recession, these countries are those coming from third world countries and those with very high numbers of infected.
The economy is not moving and they are supporting the health care and basic needs of their people and many people are losing their jobs people are suffering I guess it would take years before they can get up again because of this pandemic.

[abhiseshakana]

What do you really mean by home industry?

In developing countries, many small and medium businesses are done from home such as the snack industry, the garment industry, the detergent making industry, the handicraft industry, the street food stalls, the cooking equipment manufacturing. Usually small and medium industries are not affected by the recession. But it is different when the corona pandemic occurs with the lockdown hitting the demand line reaching the street vendor sector.

In this corona condition, all parties are affected, but the most affected are the poor people who can only rely on direct government cash assistance and a helping hand from generous people. While the health industry is indeed the vanguard in the war against the corona pandemic, but the health sector is the sector that receives the most attention from the government and also volunteers at this time given the importance of this line to cover the dark episode of the pandemic.

Some countries and some companies will survive but most of the countries will have a recession, these countries are those coming from third world countries and those with very high numbers of infected.

After the corona ends, the form of the economy cannot be ascertained considering the predicted end of a pandemic. Because after all the pandemic is a burden on the state budget. Therefore many countries have begun to reopen their economies even though the corona pandemic fire has not yet ended. The longer the lockdown, the longer the market is closed, and the longer the activity ban is imposed, the passion and ability to consume will decrease. even though in the midst of the global supply chain breaking up, domestic consumption is the only mainstay of the government to turn the economy.

With this strategy, the government also hinted that economic reopening is not all back to where it was before the pandemic took place but there are a series of regulations that must be obeyed and the government surrenders to the community, following regulations in the hope of survivors or ignoring regulations with choices ending in death.