What if this pandemic persists till the end of the year?

[cryptoboy007]

It's almost 6 months since the coronavirus took its toll on every aspect of human lives. it has been accompanied by widescale job loss, a rise in the unemployment rate, a reduced standard of living, and intense hardship. From the economic perspective, what will be the fate of the global economic situation and normal day to day business if this pandemic doesn't go away by the end of this year?

[jackg]

The socioeconomic impact of this crisis could be felt for a lot longer, that's how crises work...

I think we could see a trickle down affect occurring a lot of the time so the working class will probably be the worst hit by this as a lot of engineers may be unemployed. If unemployment rises in Europe, a lot of money could be lost by companies due to paid severance that's required for every worker (not sure about other continents)...

The impact of every crises lasts a very long time, it may take up to 3 years for a lot of people to find work or some may never since automated systems may have taken the place of staff during this time.

[Guryon_master]

It's almost 6 months since the coronavirus took its toll on every aspect of human lives. it has been accompanied by widescale job loss, a rise in the unemployment rate, a reduced standard of living, and intense hardship. From the economic perspective, what will be the fate of the global economic situation and normal day to day business if this pandemic doesn't go away by the end of this year?

I would say we can surely see worse than these. And I think if these will happen corona virus is not the major problem to solve but the chaotic madness of every individual or group of people who are willing to do anything they want for survival.

[sunsilk]

The same as what we're experiencing today. But all of these are temporary because we'll be going back to normal as soon as possible whenever we've got to see the vaccine. It will end all of these bad things that are happening to us.

The adjustment has to be made so that it can ensure everyone's safety but the recoil of it to the economy is huge. There will be a slowmo recovery as for the economy because most countries are starting to allow businesses to get back again to their operations.

[Barnabe]

The same as what we're experiencing today. But all of these are temporary because we'll be going back to normal as soon as possible whenever we've got to see the vaccine. It will end all of these bad things that are happening to us.

The adjustment has to be made so that it can ensure everyone's safety but the recoil of it to the economy is huge. There will be a slowmo recovery as for the economy because most countries are starting to allow businesses to get back again to their operations.

Where I am living, the government is almost pushing people to physically go to work (instead of working at home), some people say that leaders are afraid of the effects of a big portion of the population only working at home (less taxes from transportation/fuel, less employment in restaurants around workplaces, drop of real estate prices if companies decide to downscale their facilities, etc)

It will be interesting to see what will happen in the next months.

[GreatArkansas]

I have a friend here in our country which their company started to work 6 days a week with a salary of only 3 days, they started that way last month. But it is only until November or early since the government allowed some companies/businesses to do that kind of way to keep their employees.
So for sure, if we will still be the same until end of the year, it could be a huge impact on some countries especially for those third world countries.

[LogitechMouse]

It's almost 6 months since the coronavirus took its toll on every aspect of human lives. it has been accompanied by widescale job loss, a rise in the unemployment rate, a reduced standard of living, and intense hardship. From the economic perspective, what will be the fate of the global economic situation and normal day to day business if this pandemic doesn't go away by the end of this year?

For sure most of us here experienced this for the first time and many aren't ready for it. Many remained jobless, some are even begging in the streets for money or even food for them to eat.

The virus' peak is around March-April where most of the countries imposed a lockdown to prevent it to spread. Now we are at the halfway of 2020 and the cure for the virus isn't there yet. A new vaccine for a new strain of virus can be created between 12-18 months at average so there is a chance that the virus will still be there by the end of this year although I can't say that it will remain a pandemic at that time.

Some of the countries are removing lockdowns already and some business are slowly reopening although small and medium enterprises and business are either closed permanently or temporarily because of this. I think that the virus will still be there till the end of the year but I don't know if it will remain as a pandemic or not.

[exstasie]

It's almost 6 months since the coronavirus took its toll on every aspect of human lives. it has been accompanied by widescale job loss, a rise in the unemployment rate, a reduced standard of living, and intense hardship. From the economic perspective, what will be the fate of the global economic situation and normal day to day business if this pandemic doesn't go away by the end of this year?

There is almost no chance it will "go away" by year end. The virus mutates too slowly to burn itself out by then. Transmission data is now suggesting (at least in the US) that there will be no second or third wave, just a never-ending slow burn of cases. Even the most optimistic vaccine timelines (which themselves are not realistic) come with problems: inability to produce the vaccine at scale for billions of people, and strong anti-vaccine sentiment.

All that to say we shouldn't speculate about the pandemic ending so soon. We should definitely be preparing for it to stay with us through the end of the year.

As far as what to expect, it obviously depends where you live. If things get really bad in the US economically, they can just keep printing money, extending unemployment, placing moratoriums on mortgages and evictions, sending out direct payments, bailing out companies, etc. to prevent the worst outcomes. The fallout in poor countries who don't have those luxuries will be much worse. For example, the number of people expected to go hungry in 2020 has doubled year over year. Most of that is in very poor countries.

[jrrsparkles]

First of all, still there is no approved medicine found to cure corona virus and peak number of cases is still expected at the final quarter of this uear so for sure this year going to be end with corona lockdown only.Unemployment is the major issue of lockdown, some countries lifted lockdown after controlling the spread but it started to spread again once the restriction were lifted.

We may see hunger all over the earth if this spread last longer and most countries will be in economics depression will take years to decades to get recovered.

[Lorence.xD]

First of all, still there is no approved medicine found to cure corona virus and peak number of cases is still expected at the final quarter of this uear so for sure this year going to be end with corona lockdown only.Unemployment is the major issue of lockdown, some countries lifted lockdown after controlling the spread but it started to spread again once the restriction were lifted.

We may see hunger all over the earth if this spread last longer and most countries will be in economics depression will take years to decades to get recovered.

With the pandemic lasting over the year, I do think that we will let ourselves succumb to it because that kind of timeframe should give us some solution even if some of those solutions are bad-aid solution, people by that time would be very cautious and financial strategies that are solid should be operational by that time, I do not think that we should be pessismistic about this pandemic because there are solutions that can be seen if we are to clear our minds. It is true that hunger and unemployment would be a problem but by that time there will be measures taken and I hope that those measures will last until the cure.

[CryptopreneurBrainboss]

Here's the fact, the global economy won't recover in the nearest future as many are hoping for. The best it can do is cope with the pandemic and that's exactly what's ongoing in most part of the world. The pandemic and the economy would gradually learn to coexist, that's our regular life will begin as usual with few precautions not minding the pandemic still existing. If we think we can stay indoors and expect a progressive economy then we must be day dreamers and the government printing more money won't solve the problem instead it'll worsting the situation and might shutdown the economy permanently.

It's been quite a well the world experience such global meltdowns (spike in death cases) so I believe that's why many government panic and join the shutting down of their economy just to contain the virus but they're begining to understand that, that isn't the perfect solution and with time (assuming the virus persist) we'll have better solution to combat the pandemic.

[Cnut237]

It's almost 6 months since the coronavirus took its toll on every aspect of human lives. it has been accompanied by widescale job loss, a rise in the unemployment rate, a reduced standard of living, and intense hardship. From the economic perspective, what will be the fate of the global economic situation and normal day to day business if this pandemic doesn't go away by the end of this year?

Even if the pandemic suddenly disappears today, we will still be feeling the economic impact for years to come. We have had the huge bailouts already. What comes next is that we have the consequences of the lockdown, plus the consequences of the bailouts. Some companies will scale back, some will shut down entirely, huge numbers of people will become unemployed. This is due to the loss of custom during lockdown, and the uncertainty of the 'new normal' of restricted reopenings and reduced capacity due to the requirement for social distancing. On top of this, the bailouts have been a temporary measure just to keep everything from collapsing immediately. The bailouts don't return everything to normal permanently, they just keep 'normal' ticking over until economic activity can resume. When such vast amounts of money have been created out of thin air, there is always an economic price to pay afterwards, as we saw in 2008... the difference this time being that the situation is much worse.
But there are opportunities here as well. The oil price has collapsed and there is a lot of pressure to initiate a green recovery. Whether or not governments will embrace this opportunity is of course open to question.

[chip1994]

It's almost 6 months since the coronavirus took its toll on every aspect of human lives. it has been accompanied by widescale job loss, a rise in the unemployment rate, a reduced standard of living, and intense hardship. From the economic perspective, what will be the fate of the global economic situation and normal day to day business if this pandemic doesn't go away by the end of this year?

Certainly many countries will fall into recession or worse than crisis. You know, many countries now have a hefty income based on services, but now the corona virus disease has spread and hampers many services. the longer it lasts, the less cash flow will flow and we will face economic crisis.

[roberthays]

Things are starting to go back to normal here in the UK and i've noticed a lot more people outside. I don't imagine this going on longer but it'll be an aspect of our lives that we may have to cooperate with especially in densely populated areas.

[Haunebu]

Many scientists have already mentioned that this virus is here to stay and won't disappear anytime soon. A vaccine will probably be globally available by mid-2021 by which majority of the world population would have already gotten used to living with the virus.

Lockdowns have been lifted in most places due to which economies are slowly and steadily recovering. We survived way worse situations in the past(Flu, Black Death etc) which is why most people will outlive this virus too.

[rodskee]

Many scientists have already mentioned that this virus is here to stay and won't disappear anytime soon. A vaccine will probably be globally available by mid-2021 by which majority of the world population would have already gotten used to living with the virus.

As long as protocols coming from WHO the majorities of all the people around the world will survive even this virus
is co-existing with us.

Lockdowns have been lifted in most places due to which economies are slowly and steadily recovering. We survived way worse situations in the past(Flu, Black Death etc) which is why most people will outlive this virus too.

Places where lockdown was already lifted, people will comes to continue living, risking their lives going back to work
or businesses, having no other options just to survive.

[plvbob0070]

There is really a possibility that this pandemic will still be here at the end of the year since it will probably take a year before the vaccine will be made. I think the global economy will face some struggles due to the pandemic. We can't easily go back to how the economy normally runs. Most businesses are trying to operate again but the pandemic is still limiting us with our activities.

I think the best thing we can do right now is to adjust to the changes and protocols to survive the pandemic as well as saving the economy. As I have seen in normal day to day operations of some businesses, some are working from home while others are taking turns with their new schedule when will they go to work, it's to keep social distancing even at work. However, it's affecting their salaries since they cannot work with the total number of days in a month compared before. That's why it feels like it is up to us whether to risk our lives to live, or not to risk to live. It's undeniably affecting all of us, from school, work, salaries, doing errands, and the whole economy. It's not easy for an economy to recover from this so I guess we will really see the changes in the performance of the economy and how it will affect us.

[abhiseshakana]

It's almost 6 months since the coronavirus took its toll on every aspect of human lives. it has been accompanied by widescale job loss, a rise in the unemployment rate, a reduced standard of living, and intense hardship. From the economic perspective, what will be the fate of the global economic situation and normal day to day business if this pandemic doesn't go away by the end of this year?

Goldman Sach was able to provide information that even until the end of 2022, Corona will still exist and remain a pandemic in many countries

Corona began to become a pandemic in many countries since March 2020. This has resulted in the economy slowing down until now. In these 3 months due to the decline in economic activity, we can say we are in a recession. If the recession is not controlled, there will be inflation. If the pandemic continues until the end of the year, then the recession will move wildly pressing the economy into depression, and if until the end of 2021 or 2022 will continue to become great depression.

The last time the Great Depression happened, the world order changed with the United States as the winner of the Second World War turned the situation from loser to winner. Some people think that a pandemic will lead to a new order.

[Negotiation]

If the epidemic continues until the end of the year it will lead to a worse situation in the world Now the whole world economy is under a lot of threat and if it lasts longer then the recession will happen and the poor helpless people will die due to lack of food. But I don't think it will last very long Everyone is hoping that by September the situation in the whole world will be under control.

[Kong Hey Pakboy]

Many scientists have already mentioned that this virus is here to stay and won't disappear anytime soon. A vaccine will probably be globally available by mid-2021 by which majority of the world population would have already gotten used to living with the virus.

Lockdowns have been lifted in most places due to which economies are slowly and steadily recovering. We survived way worse situations in the past(Flu, Black Death etc) which is why most people will outlive this virus too.

Scientists, doctors, and other front liners are doing everything, so they could be able to provide a vaccine to stop COVID-19. But it will really take a long time for it will be globally available, so I hope the virus cases will steadily recovering in every country to avoid huge problems in a country.

From my point of view, if the pandemic will continue till the end of the year, a lot of people will definitely die to starve because some of them already lost their jobs and some businesses got bankrupt. So criminal or illegal acts might increase for them to provide their family needs.