Economy after COVID-19

[Kittygalore]

~

They were prepared but it seems like their people out there were not too disciplined. In US for example, they even fight for their rights to NOT to wear a mask in public due to uncomfortable feeling. Other is that their government was slow. Slow in terms of implementing lockdowns and efficiently conduct one unlike China where they really impose lockdowns using brute force but with support of course.

China has experience with outbreaks so it is understandable that they know what to do, although they might be suppressing their numbers to make them not look bad. The problem in the US with anti-maskers is that they think that they know better, if the Internet wasn't invented, these idiots would have no way to spread their contagious idiocracy. Regarding the slow implementation for other countries, either the government is incompetent or they are underdeveloped country and no in-between.

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[Xinarae*]

If the government takes proper measures then it is possible to develop the underdeveloped country adequate investment in the health sector is crucial in the current situation through this it will be possible to control the virus infection to some extent .The government needs to mobilize greater funding and multilateral efforts through global cooperation and coordination to ensure that affordable vaccines and treatments are delivered quickly wherever they are needed.

[EiKaGlaShPriSAThWEl]

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.

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.

Every place in every part of the world does not have the same economic status. I think to a more developed or advanced areas, online can be tolerated or I think online is already its normal way of economy. Due to that, more people around it or within it will also be normalizing online and cashless payments either in transportation or buying foods and services. But to areas like provinces, I think the new normal set-up will be like social distancing, wearing of face masks and sanitizing because online world is far from it.

[Betwrong]

China has quite a big problem though because their vaccines are not that effective
https://www.republicworld.com/world-news/china/china-covid-19-vaccines-have-low-efficacy-admits-top-centre-for-disease-control-director.html
This whole pandemic doesn't sound right to date, IMO. There are far too many grey areas that have not been discussed thoroughly and I don't understand how this epidemic works.
Take Laos, before they started jabbing people there were literally zero cases: after the vaccination started cases started to spread. What the hell?
https://www.worldometers.info/coronavirus/country/laos/

Actually, the Chinese vaccine, Sinovac, is very effective against severe COVID-19 outcomes.

The Sinovac study was to look at how the vaccine works against the entire range of clinical symptoms, from mild infections to severe ones, including death. The efficacy data of about 50% is for very mild disease, requiring no treatment. For infections requiring some medical intervention, it’s about 84% and for moderate-to-severe Covid cases, it’s 100%.

Should people take the Sinovac vaccine?

Russell: I would have no hesitation, provided it secures regulatory authority approval. For protecting people from ending up in hospitals, Sinovac’s shot looks terrific as the efficacy data for preventing hospitalization and death is 100%.

And that's what counts the most: you are guaranteed to recover without medical intervention. So, when talking about "ineffectiveness" of the Chinese vaccine we must keep in mind that this info is rather formal than substantial. It is meaningful for medical specialists, no doubt about that, but for us, regular folks, Sinovac, along with the other approved vaccines, is  a lifesaver.

[DrBeer]

In my post, I wrote essentially the same thing - to limit quarantine measures, vaccinate as much as possible, limit the movement of the unvaccinated and carriers of the virus, and no mass events! We must understand that this is a disease and we must fight it in an appropriate way!

Vaccination is the main issue now. Apart from the developed world, vaccination is progressing at snail's pace due to supply chain issues with AstraZeneca. Pfizer and Moderna are limiting their supplies to richer countries and are asking for impractical guarantees from the poorer nations to supply the vaccine. With just 1% to 2% completely vaccinated in the developed countries, it is not a good idea to restrict the freedom of movement of the unvaccinated.

Regarding the lack of quality vaccines, ALL - I absolutely agree! This is a huge and critical problem today. Probably, international structures and funds should think about "buying out" licenses for the production of high-quality licenses and transferring licenses for production to pharmaceutical companies all over the world. This is one of the options that can make it possible to establish a mass product. Unfortunately, the world is not ready for such situations - no production is ready to provide the entire market with the necessary drugs in a short time, this takes time, but time is against us.

[wahyu wida]

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.

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.

Every place in every part of the world does not have the same economic status. I think to a more developed or advanced areas, online can be tolerated or I think online is already its normal way of economy. Due to that, more people around it or within it will also be normalizing online and cashless payments either in transportation or buying foods and services. But to areas like provinces, I think the new normal set-up will be like social distancing, wearing of face masks and sanitizing because online world is far from it.

the shifting of habits during the pandemic does require us to keep up with the times, and even now the online world is growing rapidly, we can even see that many conventional supermarkets are losing money. of course, besides being more practical, they love their health from the covid virus

[bryant.coleman]

Regarding the lack of quality vaccines, ALL - I absolutely agree! This is a huge and critical problem today. Probably, international structures and funds should think about "buying out" licenses for the production of high-quality licenses and transferring licenses for production to pharmaceutical companies all over the world. This is one of the options that can make it possible to establish a mass product. Unfortunately, the world is not ready for such situations - no production is ready to provide the entire market with the necessary drugs in a short time, this takes time, but time is against us.

Well.. there were requests from poorer nations, made to the pharma giants such as Pfizer and Moderna to forfeit their IP for the CoVID 19 vaccine, but these corporations refused to do so. Now I am aware of the huge investment they have put in order to develop these vaccines. So the UN or some other global body should have reached a mutually beneficial deal with both the sides, to make sure that everyone receives the vaccines on time. Right now, everyone is left to fend for themselves.

[mrongos]

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.

That's right, in my country there is even a discourse to make currency in my country's digital currency to avoid too much risk of germs sticking to physical money, so that the government's discourse to make currency in digital is something they will consider .. if asked a conventional bank will collapse or not ?! I don't think so, because between cryptocurency and conventional banks are still very much related to each other. People will still need conventional banks to transact to exchange their coins for official money to transact in the real world.

[secretgirl]

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.

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.

Every place in every part of the world does not have the same economic status. I think to a more developed or advanced areas, online can be tolerated or I think online is already its normal way of economy. Due to that, more people around it or within it will also be normalizing online and cashless payments either in transportation or buying foods and services. But to areas like provinces, I think the new normal set-up will be like social distancing, wearing of face masks and sanitizing because online world is far from it.

yes, indeed every country does not have the same economic status. But in my opinion, every country will experience an economic downturn when the country is hit by this virus, even by implementing an online system in all transactions. even countries with developed economies will certainly be affected, even if the level of impact is low. I think that currently the government can control its economy, and must take a very precise solution, so that the economy returns to normal, before the virus hit.

[AndySt]

Regarding the lack of quality vaccines, ALL - I absolutely agree! This is a huge and critical problem today. Probably, international structures and funds should think about "buying out" licenses for the production of high-quality licenses and transferring licenses for production to pharmaceutical companies all over the world. This is one of the options that can make it possible to establish a mass product. Unfortunately, the world is not ready for such situations - no production is ready to provide the entire market with the necessary drugs in a short time, this takes time, but time is against us.

Well.. there were requests from poorer nations, made to the pharma giants such as Pfizer and Moderna to forfeit their IP for the CoVID 19 vaccine, but these corporations refused to do so. Now I am aware of the huge investment they have put in order to develop these vaccines. So the UN or some other global body should have reached a mutually beneficial deal with both the sides, to make sure that everyone receives the vaccines on time. Right now, everyone is left to fend for themselves.

Unfortunately, the UN is not a rich commercial organization that can buy contracts from large medical corporations and distribute them to poor countries. In this regard, the UN can only express wishes on this issue, which will not necessarily be heard in the current time of state selfishness, recall the recent withdrawal and return of the United States to the World Health Organization, which is a specialized agency of the UN. It will be possible to talk about any progress in this area only when the contracts concluded at the present time are fulfilled and then attention will be paid to the rest.

[Sithara007]

Unfortunately, the UN is not a rich commercial organization that can buy contracts from large medical corporations and distribute them to poor countries. In this regard, the UN can only express wishes on this issue, which will not necessarily be heard in the current time of state selfishness, recall the recent withdrawal and return of the United States to the World Health Organization, which is a specialized agency of the UN. It will be possible to talk about any progress in this area only when the contracts concluded at the present time are fulfilled and then attention will be paid to the rest.

UN may not be rich, but they can help the poor nations by allowing a patent waiver on the vaccines. This will allow the poorer nations to produce vaccines at cheap rates. Pharmaceutical companies such as Pfizer and Moderna have already made huge profits from 4-5 months of vaccine sale. Why can't they make the vaccines available to all and prevent millions of deaths? And if the pandemic remains in the developing nations, the virus will mutate further into strains that are immune to the vaccine. Eventually these strains will reach the richer countries as well.

[DrBeer]

Regarding the lack of quality vaccines, ALL - I absolutely agree! This is a huge and critical problem today. Probably, international structures and funds should think about "buying out" licenses for the production of high-quality licenses and transferring licenses for production to pharmaceutical companies all over the world. This is one of the options that can make it possible to establish a mass product. Unfortunately, the world is not ready for such situations - no production is ready to provide the entire market with the necessary drugs in a short time, this takes time, but time is against us.

Well.. there were requests from poorer nations, made to the pharma giants such as Pfizer and Moderna to forfeit their IP for the CoVID 19 vaccine, but these corporations refused to do so. Now I am aware of the huge investment they have put in order to develop these vaccines. So the UN or some other global body should have reached a mutually beneficial deal with both the sides, to make sure that everyone receives the vaccines on time. Right now, everyone is left to fend for themselves.

I agree - the UN and other international structures are not able to solve the global problem of providing vaccines to all or the majority of the population today. But there are also nuances here. For example, commercial companies are not required to play "messiah" and "saviors" and do charity work. Therefore, we must proceed from this position and look for an alternative way. For example, I suppose that it would be possible to raise a fund that would pay for the development of an alternative vaccine that would become an "open project" that all pharmaceutical companies could eventually produce and sell at a minimal price all over the world. India itself has a huge potential for the production of pharmaceuticals, and could become one of the centers of mass production of a "common" vaccine, or for the whole world or a regional leader.

[bryant.coleman]

I agree - the UN and other international structures are not able to solve the global problem of providing vaccines to all or the majority of the population today. But there are also nuances here. For example, commercial companies are not required to play "messiah" and "saviors" and do charity work. Therefore, we must proceed from this position and look for an alternative way. For example, I suppose that it would be possible to raise a fund that would pay for the development of an alternative vaccine that would become an "open project" that all pharmaceutical companies could eventually produce and sell at a minimal price all over the world. India itself has a huge potential for the production of pharmaceuticals, and could become one of the centers of mass production of a "common" vaccine, or for the whole world or a regional leader.

I agree with the suggestion and India is one of the world's leading manufacturer of different types of vaccines. There are two manufacturers in India currently who are producing vaccines against CoVID 19 (Serum Institute of India and Bharat Biotech). But here the problem is that some of their key raw products need to be sourced from the United States. And for almost two months, the United States had imposed an embargo on the export of these raw materials (lifted only a few days ago), although the American government had enough doses of vaccine to inoculate every single person in that country. Now sourcing these materials from a different country may take a few months and both the SII and Bharat Biotech struggled during this period.

I completely agree that the pharmaceutical companies need to benefit from their own invention. And the third world nations can't just ask medicines for free from these corporations. But somewhere we need a middle path.

[cute nmp]

The economy of our country has been hit hard by the covid-19 pandemic so many jobs were lost because of the lockdown that was imposed to curb the spread of the virus.Many lost their means of livelihood and poverty was on the rise during that time.This year with low number of cases in the country and a wide vaccination campaign the economy is slowing going back to semi-normal although it will take time to recover fully.

[Sithara007]

The economy of our country has been hit hard by the covid-19 pandemic so many jobs were lost because of the lockdown that was imposed to curb the spread of the virus.Many lost their means of livelihood and poverty was on the rise during that time.This year with low number of cases in the country and a wide vaccination campaign the economy is slowing going back to semi-normal although it will take time to recover fully.

The situation in one country is different from the other. It could have been much better, if you had mentioned which country you are residing in. It looks like your country managed to vaccinate most of the population, and as a result it is largely free of the virus. Here in India, less than 3% of the population is fully vaccinated, and as a result we are going through the "third wave". The official number of daily deaths are around 4,000, but the media is saying that unofficial numbers may be manytimes higher than this.

[Betwrong]

~ Here in India, less than 3% of the population is fully vaccinated, and as a result we are going through the "third wave". The official number of daily deaths are around 4,000, but the media is saying that unofficial numbers may be manytimes higher than this.

Right now the situation in India regarding daily deaths and new cases is the worst in the world, even with official numbers:



Indian officials are saying that they are expecting a "muted" economic impact as compared to the first wave, because now they know from their and international experience how to operate in the conditions of Covid-19. Whether it's true or not remains to be seen, but I personally believe that they have valid reasons for saying this.

[DrBeer]

I agree - the UN and other international structures are not able to solve the global problem of providing vaccines to all or the majority of the population today. But there are also nuances here. For example, commercial companies are not required to play "messiah" and "saviors" and do charity work. Therefore, we must proceed from this position and look for an alternative way. For example, I suppose that it would be possible to raise a fund that would pay for the development of an alternative vaccine that would become an "open project" that all pharmaceutical companies could eventually produce and sell at a minimal price all over the world. India itself has a huge potential for the production of pharmaceuticals, and could become one of the centers of mass production of a "common" vaccine, or for the whole world or a regional leader.

I agree with the suggestion and India is one of the world's leading manufacturer of different types of vaccines. There are two manufacturers in India currently who are producing vaccines against CoVID 19 (Serum Institute of India and Bharat Biotech). But here the problem is that some of their key raw products need to be sourced from the United States. And for almost two months, the United States had imposed an embargo on the export of these raw materials (lifted only a few days ago), although the American government had enough doses of vaccine to inoculate every single person in that country. Now sourcing these materials from a different country may take a few months and both the SII and Bharat Biotech struggled during this period.

I completely agree that the pharmaceutical companies need to benefit from their own invention. And the third world nations can't just ask medicines for free from these corporations. But somewhere we need a middle path.

India's position in this situation is probably one of the most interested and effective for the whole world - India is the world's largest pharmaceutical center, plus, which is very important, India has the TECHNOLOGIES for the production of complex medicines. And plus - a huge population that needs a very active vaccination program. I think India could become one of the world's centers for an "alternative" vaccination program.

PS And about restrictions on the supply of raw materials from the United States - they can be understood, they are very concerned about the situation in the country and the level of morbidity in their population. This is some kind of "selfishness", but we have explanations

[Abiky]

UN may not be rich, but they can help the poor nations by allowing a patent waiver on the vaccines. This will allow the poorer nations to produce vaccines at cheap rates. Pharmaceutical companies such as Pfizer and Moderna have already made huge profits from 4-5 months of vaccine sale. Why can't they make the vaccines available to all and prevent millions of deaths? And if the pandemic remains in the developing nations, the virus will mutate further into strains that are immune to the vaccine. Eventually these strains will reach the richer countries as well.

Pharmaceutical companies are too greedy to make their vaccines available to all. They don't care about ending the pandemic as long as they're able to fill their pockets with money. I hope that President Biden's decision of waiving vaccine patents comes into fruition so that the world could have hope of ending COVID-19 as soon as possible. We can talk about the swift recovery of the mainstream economy once the pandemic comes to an end. How long will it take for everything to get back on track, will greatly depend on collaborative efforts between individuals, governments, and companies alike.

Nonetheless, we're still living in a period of uncertainty. Vaccines give us hope that there's light at the end of the tunnel. But if variants aren't contained quickly, all previous efforts to tackle the COVID-19 pandemic will be in vain. If the current pace keeps up, we may be stuck with COVID-19 forever. Just my opinion

[Angna27]

The economy of each country after covid-19 will rise and continue to recover, infrastruction will continue, more jobs opens, life continue to become better, medical doctors wil take their vacation off and take a rest for quite sometime, and people will still do their normal things to do, this is what we really hope to happen after this pandemic, we want to go around the world and breath in and make the most of our time with our loved ones and friends whom we do not see for long period of time.

[ropyu1978]

The economy of each country after covid-19 will rise and continue to recover, infrastruction will continue, more jobs opens, life continue to become better, medical doctors wil take their vacation off and take a rest for quite sometime, and people will still do their normal things to do, this is what we really hope to happen after this pandemic, we want to go around the world and breath in and make the most of our time with our loved ones and friends whom we do not see for long period of time.

We just pray that Covit 19 will quickly pass, and leave this world, are you right, after Covit 19 has passed, the economy will recover, but it all takes time, friends ... now the country has spent a lot of money, there is already a lot of debt . ,,,
within a year, the country must pay its debts first, a year after that, the economy will recover
but in Indonesia in my opinion ... it will not be the same as other countries ... because Indonesia has to pay off its debts first ...