Future of the global economy after coronavirus pandemic subsides

Much of the global economy has come to a halt as the coronavirus continues to spread. Peter Engelke, deputy director and senior fellow at the Atlantic Council, joined CBSN to break down possible scenarios the world faces in the years ahead, including China's role on the global stage.

[cmmc]

I am an artist, not a financial wiz woman or economist, nor am I a writer or really understand this concept but.... here goes. Daylight savings time was the catalyst to this idea.


When I was a kid, we wore snow suites under our halloween costumes. That was Michigan 50+ years ago. When I look at global warming and this pandemics financial devastation for the world, it makes me wonder. Is it possible to adjust the calendar to match the weather and have that be a clean slate period of time.


No one owes, no one profits, no one counts those days. Then we could be back in tune with the weather as well as have the breathing room that this could bring us. I know when I wish I had more days to enjoy summer or more time to focus on my art, I think about those costumes and how much fun life was back then. I am grateful for the joy of my 58 years on this earth and I want more days to enjoy.

[cyanxofficial]

We all have come across these harsh times where and when people have been self-isolating themselves and being seen in the public even less. Thus has also affected most of the shop-owners and other retail stores to forcefully shut down their business due to recession and fear. The reason for their closure was to prevent the spread of the COVID-19 Virus. The most affected business markets are the ones that are connected to consumers such as Entertainment, Travel, etc. This is slowly creating a huge hole in the economy where its aftermath will be felt only after the pandemic is secured and over with. The last outbreak where there was a similar effect on the economy was during the SARs outbreak. China’s GDP used to contribute around 4% of the global total and now it stands at 16% making it the second-largest economy in the world, due to the late shut down of Wuhan, the potential leak spread across the country and the world leading to the fall of China’s Industries. Most of the largest Multi-National Corporations in the world have their products manufactured in China like countries where it is a cheaper investment for them. This has had a great fall for the past few months. Investors are retaining their shares globally which in turn is affecting the stock market as business is failing to provide a reason not to. When these kinds of pandemics hit us in the past, solutions where more clear as to what was to be done. Nowadays the complexity has increased by a lot, which makes it harder to find. Closure of business has been lately causing a huge population of people moving into unemployment and they have been pressurizing the companies to open up job seats for them and get the market running. This is a bad influence as this, in turn, destroys the reason for social distancing. Though major leading countries are trying their best to donate extra funds, they are not going to be enough. This pandemic had managed to cause a supply shock where factories, businesses, and borders closed, which then triggered a demand shock because industries didn’t need raw materials because they weren’t producing and people weren’t buying things due not being able to earn. There are a few speculations whereas in which ways could it be disastrous like global recovery becomes slow and stretches far into 2020 which causes poverty levels to rise, China builds ties across Asia and undermines the others or wealthy countries ban together to vaccinate global population. These can occur and turn out to be as devastating as they may sound. World banks are doing their best to fund other countries to prevent another great depression from occurring. On short-term economic effects, it points to a surge in demand for hospital equipment, capacity pressures on staff, a collapse of air travel, and a period of people quarantining themselves, thus driving down retail sales. Schools would then close, causing widespread workplace absence.

[jamescoombs]

Take one guess, who u can blindfold with dental floss, lemme know 🇺🇸

[asoc]

With Donald trump as president, USA standards have dropped drastically!

[ryarod]

Honestly, for anyone to deliberately have children under the current circumstances, and in the foreseeable future, is a necessarily immoral act.

[The_General_Zubas]

hopefully, the Influence of the Global Economy will be lessened.

Jobs will need to be brought back in some way shape or form.

[memyselfimemyselfi]

Don't worry ....be happy....your alive...

[elements-creactive]

Peter Engelkes scenarios are very sophisticated and highly appreciated - thanx well !

[edwardgoering]

Each venue we showed up G-8 - D-day - India last month with PM Modi, Davos, London and our meetings with North Korea we have been respected. Since the world experience this pandemic our economic, s is better than all EU and UK. Since Oil is dragging its feet Russia and Saudi is hurting . Yes they pick us to invest best still !

[Jhihmoac]

In a nutshell: "WHAT Economy?"

[debwright]

🤓🤓🤓To China's president. 🤒🤒🤒The United States is currently going through some serious internal matters. 😔😔😔Your patience and understanding is appreciated. 😳😳😳The United States is temporarily out of order for the next eight months until further notice. 😕😕We ask that our allies remain patient and work among themselves, will check back in eight months.😐😐😐

[Tdr-jvnc]

We r not easing here in the UK we have been hit hard by the virus. So many are dying so many are losing jobs we r suffering yet no one reports on it

[sonam]

Cooperation is better and need to fair cooperation..

[robertojarry]

If we don't know. We should be studying chinese.

[dezacht]

Spanish flu in 1918 was a begining WW I. Will this pandemic as a trigger?

[AMBGS]

Credibility? You kidding? Nixon, Reagan, Bush Bush, Trump. And I just heard it again from your expert, "Spanish Flu", which came from Kansas. So much to US credibility..

[srisri-ivcz]

Poor people will suffer more rich are always savef

[gamingtonight]

They're forgetting the global economic depression we will have, which may last 10 years. And while we're dealing with that, where is the climate crisis going to be at? Major food security problems? Clean water issues? Major social disorder?

[johnpaulkane]

Overtime people go back to their normal instincts and if this thing doesn't come back people will definitely go back to the routines it's just human nature you don't need Einstein to figure this out I have no plan on living my life as a programmed robot