Economy after COVID-19

[Bl_385]

Some states will recover faster, and some will not recover until the next bubble burst.
When you see that some economically underdeveloped countries are starting to show some signs of a slight recovery, know that a new bubble burst is coming soon.
History always repeats itself.

[Wratheye]

Many are now wondering what to do to prevent such situations from happening again.

[AicecreaME]

The changes of economy would likely depend on the stability and position of a country. Sure, some economy would bounce back once this pandemic is over, but it won't be applicable to each and every country. For some, it could be over several months, a year or so. However, for some countries like those who are still developing would take some time compared to those developed by now.

When it comes to the talk about digital and online transactions, in third world countries these are already available and is widely used especially of the higher and middle class. Although, online modes of payment isn't really for all since some still prefer having cold cash on their wallets to buy goods and avail services. At the same time, the lower bracket society is not really in touch with this since most labor-enforced work, part-time jobs and rackets are paid on cash (speaking for Ph working nature).

Digital and online transactions are really nice since both offer safety and convenience, but again it's not for everyone. It can be the next big thing and the future mode of payment, but for now it is not efficient yet. Studies can be made though on how to jump from that.

Aside from the changes of the economy after this pandemic, the one being most likely to be seen is the drastic change of behaviour of the society. We will have this kind of "new normal" set up wherein people would be anxious whether to go out or not. Some would prefer to use masks, face shields, and other protection barriers to maintain safety distance from the crowd. Just to ensure their health and well-being that's a good thing after all.

When a safe vaccine is already produced, for sure the economy will bounce back. The countries would redeem itself from debts and loans. It would take some time to fully recover, but certainly it would happen.

[giammangiato]

At the moment economy looks better than a few of months ago, I don't know if it could be for long time because some economy experts say that in october there will be another crash of the markets and with it a new lockdown

[Salauddin1994]

If the effects of the virus diminish but reappear a new lockdown decision will be made. But from the first time it can be much more frightening. Given the rate at which the economy has suffered it will take a long time for the economy to improve after COVID-19. Experts say it could take another two to three years. much of our caution can protect against the effects of this virus whatever comes can be reduced a lot towards September.

[Abiky]

it seems that a new habit will emerge, namely the increased use of contact less or cash less services ...
such as the payment system imposed by several cinemas that will open after a long vacuum
and this is a great opportunity for cryptocurrency to find a hope that might become popular on the right time

There's no doubt that a post-COVID economy will be completely cashless. We're already experiencing the economic effects of COVID-19 with social distancing measures imposed by governments worldwide. Since physical cash and even physical credit/debit cards carry germs and bacteria with them, they're unsuitable for mainstream payments during these pandemic times. Contact-less payments are being used more thoroughly as they're proven to be safer than physical cash. We will live in a world where everything is paid for digitally either via existing credit/debit cards (online), CBDCs, or traditional cryptocurrencies like Bitcoin and Ethereum. Still though, the process of phasing out the old monetary system will take longer than usual. COVID-19 will accelerate the adoption of digital payments as we speak. After its demise, our economy will gradually recover but it'll never be the same as before.

With trends like telemedicine, remote jobs, and CBDCs, the world's economy will become modernized for the 21st century. The longer COVID-19 takes to disappear, the faster central banks and governments will be able to develop digital currencies of their own. Like it or not, our economy will be radically transformed after the effects of COVID-19 in the mainstream world. Just my thoughts

[bryant.coleman]

At the moment economy looks better than a few of months ago, I don't know if it could be for long time because some economy experts say that in october there will be another crash of the markets and with it a new lockdown

At least in my country that is not the case. Those who lost their jobs a few months back are yet to find new jobs. And most of the establishments remain open, because people don't want to go out. Even those who want to get out and do shopping don't have the means to do so, because a lot of people are surviving on their savings. It may take many years for the economy to get back to shape.

[lienfaye]

At the moment economy looks better than a few of months ago, I don't know if it could be for long time because some economy experts say that in october there will be another crash of the markets and with it a new lockdown

At least in my country that is not the case. Those who lost their jobs a few months back are yet to find new jobs. And most of the establishments remain open, because people don't want to go out. Even those who want to get out and do shopping don't have the means to do so, because a lot of people are surviving on their savings. It may take many years for the economy to get back to shape.

Economy will slowly recover if the virus is totally gone because businesses can normally operate again and workers can return back to their work. The question is when this virus going to end, this whole year is very hard for us especially to those unfortunate people who cant afford to feed themselves without work due to lack of savings.

[bryant.coleman]

At the moment economy looks better than a few of months ago, I don't know if it could be for long time because some economy experts say that in october there will be another crash of the markets and with it a new lockdown

At least in my country that is not the case. Those who lost their jobs a few months back are yet to find new jobs. And most of the establishments remain open, because people don't want to go out. Even those who want to get out and do shopping don't have the means to do so, because a lot of people are surviving on their savings. It may take many years for the economy to get back to shape.

Economy will slowly recover if the virus is totally gone because businesses can normally operate again and workers can return back to their work. The question is when this virus going to end, this whole year is very hard for us especially to those unfortunate people who cant afford to feed themselves without work due to lack of savings.

The virus will end only if an effective vaccine is found. Unfortunately, vaccine developers in US/UK are saying that their vaccines won't be available in the market until the first half of next year. Russia and China have developed vaccines and they have made them available to the citizens. But the WHO hasn't approved these vaccines and have issued warnings against their usage.

[gbrendeh]

Life after COVID-19might not be that good at all. Most private schools has not been getting paid for more than six months, only the public once are getting luck here. Hotel and bars are forbidden since its emergence, Airline yet to resume activities internationally due to strict rules. I hope the economy of nations will surge back in the year 2021

[Xembin]

Liberally not all countries in the world will experience positive change in their economy after covid-19.
Some countries are still battling with covid-19, many cases are increasing everyday, lockdown still on ground, many businesses are suffering in their business.after the pandemic some will slowly recover, while some will recover faster.

[aiguy]

There is too much difficult to recover the economy of every nation. But there is a chance to recover if every country focuses on their situation. don't interfere in other counties matter, like war etc.

[aiguy]

Corona virus knows no boundaries and damaged every religion, class, clan and society. Pakistan has so far registered nearly 270,000 cases of the corona virus and over 5,700 related deaths.  "Pakistan's economy is shrinking, unemployment is rising and various sectors are in crisis," warned Zafar Moti, the former director of the Karachi Stock Exchange (KSE). But I hope with passage of time it will recover soon. And Idea of Digital currency will get hype may be.

[aiguy]

the economy will recover but it will take too much time. the main point is what we will do because most of the people are jobless. and the businessman has no money to invest. And everyone is in crisis, this crisis just not the effect of the economy but also in research institutes. and there are runny very few researches. so we  get 50 years back

[Vishnu.Reang]

Economy will slowly recover if the virus is totally gone because businesses can normally operate again and workers can return back to their work. The question is when this virus going to end, this whole year is very hard for us especially to those unfortunate people who cant afford to feed themselves without work due to lack of savings.

Here in India, today I came across some interesting piece of news:

https://timesofindia.indiatimes.com/city/mumbai/mumbai-may-develop-herd-immunity-by-december-january-tifr-report/articleshow/77956917.cms

A mathematical projection on the ongoing Covid-19 pandemic worked out by the Tata Institute of Fundamental Research (TIFR) and submitted to the BMC has said that by December this year or January next year, almost 75% of the people living in slum pockets in the city and in 50% of the non-slum pockets would have antibodies. However, the model hasn’t accounted for the threat of reinfection, which has emerged as a concern across the world in the past fortnight.

Now this is very interesting, because they are claiming that the population may achieve herd immunity, even before the vaccine is made available. If that happens, we can expect that the economy will be back on track by the end of this year. The poor and middle-class groups were disproportionately affected by this pandemic, but if this news is true, then their suffering will end soon.

[FlightyPouch]

There is too much difficult to recover the economy of every nation. But there is a chance to recover if every country focuses on their situation. don't interfere in other counties matter, like war etc.

Well, every country has it rough. With the cases continuously increasing, more and more people would be losing their jobs as more cases leads to more strict protocols that may end up closing some of the stores or places where people work. Since the vaccine is already at the process, I think we will be able to recover the economy damaged by this pandemic, we just need to wait.

[MFahad]

well it will be hard for third world countries  to cope up  and recover after this pandemic..especially nowadays that there were continuous recessions and many workers were affected.. yes we are grateful for some companies that can do worm from home set-ups.. but the other companies can not adopt this kind of work set-up...or if they will then they need to restructure and provide budgetary for work from home set-up.. I believe that people will find ways to cope up and survive this pandemic.

Many companies learnt and adopted new ways of working remotely. Even after this pandemic, they can still allow some employees to work from home and safe the company costs too depending upon the nature of the work. There is a lot to learn from this experience and can be utilize effectively in future.

[Sapphire915]

I think the economy after covid-19 crisis will gradually recover. Digital transactions will continuously growing as well as crypto currencies and blockchain industry. And I believe that central banks will never collapse, it will recover for sure.

[bryant.coleman]

Many companies learnt and adopted new ways of working remotely. Even after this pandemic, they can still allow some employees to work from home and safe the company costs too depending upon the nature of the work. There is a lot to learn from this experience and can be utilize effectively in future.

Here in Singapore, almost everyone who works in the IT sector is working from home. It has proven to be beneficial for everyone. Daily commute was always a big headache for me, because I used to take the public transport. The employees are as productive as they were earlier and now everyone is left with additional savings. And at least in my sector, the revenues are stable and not impacted in a big way by the COVID 19 pandemic.

[giammangiato]

Now in September economy looks better than a few of months ago, but covid is restarting and i m worried about a new lockdown for the end of October. I hope that this will never happen but in this case we already know how manage this situation!