Imagining a post-pandemic global economy
The world remains hopeful for a cure for COVID19, and there has been some light at the end of the tunnel, as laboratory experimentations are ongoing and human trials have made small steps towards finding a cure. As Steven Fisackerly keeps his fingers crossed together with the rest of us, he invites us to imagine how the economy will look like once a cure has been found.
As most experts weigh in, the knee jerk reaction upon confirmation that there is indeed a cure already is that the whole world will want some of it. Likely, the first to take interest in this are the governments of the world, and the ones who belong to the upper class of society. The one who has the most money gets the first serving, as global trends have shown in the past, Steven Fisackerly points out. Whichever pharmaceutical company develops a potent cure is surely in for a huge payday right off the bat.
Once the general fears of the public die down, they will have more confidence in going out and reconnecting with the world that they left before the pandemic hit. Surely, there will still be cases of COVID19 positive patients, but people will not be as concerned, because they know that the virus is already beatable. Once they get to go out, their consumer instincts will come back.
Restaurants, malls, parks, tourist destinations, and all the other industries that had to close down, will take another chance at reopening. They might not be overly excited about this, but they would surely test the waters, even if this is just done in conservative attempts, says Steven Fisackerly.
When things really get closer to how they were, the banks would realize investments once again. Businesses will regain their strength, and they will remit their earnings to the banks once again. In turn, the banks will use this cash to make investments on their scale of business, as trade commences anew.
