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Will Covid19 Induced Economic Pivots Pay Off ?

Will Covid19 Induced Economic Pivots Pay Off ?

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The pandemic that continues to devastate the world has also unleashed unprecedented economic support programs by most nations around the globe. A myriad of initiatives have been launched to minimize the severe economic side-effects of the public health actions.

Socially dependent industries, such as tourism, travel and hospitality have collapsed, nearly overnight. Unemployment soared, buffered by eye-watering government cash handouts, and businesses continue to falter. Consumer cash hoarding is compounding the economic downturn.

Three global themes are emerging:

  1. Business strategy pivoting is often a matter of survival because now, more than ever, cash is king.
  2. Swift and broad economic intervention has helped but not spared countries from hardship. Self-sufficiency and critical infrastructure are national policy discussions.
  3. “Vaccine nationalism” will slow the global economic recovery. The WTO has estimated that $9 trillion in output is at r...