Whilst the Coronavirus outbreak has taken leaps and bounds in various countries of the world, at times, it feels like the entire world has been devastated.
With a reportedly highest increase in cases in the last few days, thoughts of the world returning to normal are far beyond the mark of thoughts. However, as scientists and health professionals continue to discover a possible cure to the virus, questions about when the world could possibly return to the normal pops up everyone’s mind.
COVID era and the post COVID era are series of great debates among the health workers and administration, for there has not been any complete solution to it.
With reportedly higher cases in the super nations like the United States and the United Kingdom, an estimated twenty million people lost their jobs in the States alone.
Industries and factories in Japan have turned out to be completely bankrupt, owing to the unavailability of its greatest investor, China.
A series of aggressive steps have however, been launched by China at India and its neighbouring countries. Theories pertaining to China, willing to dominate the Indian subcontinent have become lucid, after the technology giant Apple has decided to shift all its manufacturing and assembling processes from China, to India.
Tim Cook is reportedly very happy with Indian infrastructure and desires to better it by the next decade.
As a factually correct statement, the world might completely change in its nature by the end of COVID-19.
The Economic Times points out some very important details retailers would want to take a look at, after the aeon of the virus is over.
C – Cost Consciousness
O – Orientation
V- Value offerings
I – Innovation
D- Digital
Although there have been various instances of governments trying to support the MSMEs during the outbreak, uncertainties have pertained over the development of these industries after the COVID-19.
Even though the Healthcare industry has been seriously devastated with the unusually higher number of patients it has to handle each day, the industry might take a different approach after the Pandemic era.
Dr. MS Kanwar says, “In India, medical tourism has been an especially important aspect in terms of generating revenue for the sector, but due to COVID-19, it is set to see a downtrend, at least in the short term. Therefore, filling that revenue gap by preparing a parallel plan for medical tourism is crucial.”
As the decision of the International Olympics Committee came yesterday, the IOC has clearly stated that the present games might even not be in a position to be held, leaving the Japanese mulling over their forty million tourist expectations.
In the meanwhile, China has taken advantages of the virus outbreak and has captured top class airlines, The Norwegian Air, partially funding it with government packages and investing the second largest revenue on Bangladesh, India’s neighbour.
This investment is only second to that of Pakistan, the country that is widely recognised to be the best aide of China and the biggest market for Chinese products.
The United States and Russia have shaken hands, to deport ventilators to the Russian Federation, in an attempt to better the diplomatic relations between the countries.
Deccan Herald, a leading Indian daily, states on the current economic order as one of, “The current economic model thrives on consumption and the paradigm of markets reigning supreme. There is little space for concepts like community, equity, fairness and justice.”. It further adds, “
We are beginning to see several roles ignored earlier, as critical and important to society now. The crisis has also shown that behaviour change is possible and collective action can be achieved. Interconnectedness is now more visible and big business has begun to take a relook at the value chain. The crisis and the response has also exposed the strengths and limitations of different sectors -– private, public, and the NGO world. It is also forcing us to redefine what constitutes ‘public good’.