Overview thought on post covid19
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Covid 19 been an epidemic that has ravaged the whole world, in a way it has shutdown various economic activities of every nations of the world.. Ranging from transportation; both air and land and other means of transporting.. This has also crumble various socio economic activities of the world. This is an epidemic that has restricted human movement, reason been that it mode of spreading is unique to human mobility, so to stop it spread most nations of the world had to lockdown people from moving from one geographical location to another both within and outside, restricting human mobility means that economic activities of the world will be restricted.
My overview thought on this is the challenges that these restrictions will cause to the world economy after the epidemic would have been conquered. These are the projections of the things that I had thought of.
* Artificial intelligence will be more relevant than human efficiency because most organizations will want to cut down on the cost of doing business which will in turn result to massive lost of jobs in various organization.. And the set of people that this will best hit will be the operation staffs because they're not the ones driving sales that bring revenue to the organization. Now, to solve this problem everyone needs to oil there skills to make sure that they're the staff that every organization cannot do without, another way to this is to embrace entrepreneur spirit by having the ability to create something out of nothing, having an eagle eye ( means seeing opportunities in every situations).
* The rate of debt will increase both nations and individual will resolve to borrowing because already as a result of this lockdown most people have used up there life savings as a means to survive during this time and there's no means of replacing it at the moment because they're not working, so to survive the heat they'll have to resolved to borrowing in which paying it back will be difficult because creating a balance between the deficit at home and servicing their loan will be a thin line to manage for them in which it will also restrict lending from the side of lending organizations.. Way out of this is for everyone to downsize their budget by living within their means and cut off excessive and wasteful spending. This is the time to also look into investment and savings because there will be a lot of valuables sale at such as time as this and those that will grab the oppurtunities are those that has prepared for it by making extra cash available somewhere for themselves. For countries the cost of governance should be reduced and block loopholes that will encourage wastage.. Truthfulness and commitment to people should be their goal.
* Countries of the world will be finding it difficult to finance thier capital projects because their budget for the year has already been hitted by the epidemic. Taking for instance a country like Nigeria that has build their budget for the year 2020 on a bench mark of $35 per barrel oil and reason been that what is driving their economy as a whole is oil and the reality on ground today is that global oil price as at today has dropped drastically to less than $15 meaning that without even implementing the budget there's problem of deficit on ground and the truth be told this problem won't stop immediately after the epidemic because the demand for oil will dropped drastically because most nations will find an alternative to save cost. For countries to survive this situation is to look inward by encouraging farmers and creating agronomy economy because after water another essential thing to human is food, despite the economy meltdown people will still want to eat and survive so the best way to go is to drive an economy that will create food sustainability. I will also advise that countries of the world should reduced their borrowing power because increasing it will further mount pressure on flexible economy. This is the time for various organization like world bank and IMF to create support for the countries of the world by giving them grant and not loaning them money, this will reduce the effect of the economic hardships that might befall the world after the pandemic.
* The rate of divorce will increase, in fact using the word will increase is myopic because already it has increased by 35% which means that most married couples are just living in the same building but they're no longer married. The woe of this is that after the lockdown divorce will be more prominent because homes that lacks understanding will crumble as most people won't be able to bear the financial heat that will come after the epidemic. Another twist to this is that domestic violence will increase as there are a lot of pressure on people that will affect their psychological way of thinking.. So way out of this is for every man and woman to create a loveable homes for themselves and allow understanding with love to reign.
This is the time for everyone to brace and be responsible both as a leader and as a follower, if both the leader and follower can be responsible enough to play their role this will be a phase that will pass in no distance time.. African leaders should be responsible and the world power tussle should be softened because if this should continue the world will still remain tangle and there won't be progress.. In everything let love reign, peace is always loving and unity is possible.
Ifedayo Adedipe.