The same is happening in my country and I do not see why it would be different anywhere else, most businesses simply cannot stand being closed down for months, and even if the economy is opened slowly now their costs have gone up while their profits have gone down as people have lost their jobs and they are taking better care of their money even if they still have them just in case they are the next ones to lose their jobs.
If there is a second wave of the pandemic and governments are forced to close the economy once again it is possible the number of unemployed people and bankrupted business could go up exponentially and this could begin to affect banks and put the whole economy system at risk.
1. Have a trade surplus
2. Has a large foreign exchange reserves in the form of gold
3. Having large foreign exchange reserves in the form of currency as savings
4. Have a large foreign debt
5. Has dependence on imports
Countries that have 1, 2.3 and do not have 4 & 5 are the countries that will survive the corona pandemic the longest if, because they have a large multistreaming income and savings, especially if their economy is growing, they implement a tightening policy so that when the economy is slowing them down can take counter cycle policies.
The country that raises the white flag the fastest is the country which has 4 & 5 but does not have 1,2,3. Because they have a high dependency on the dollar to finance imports and pay off foreign debt. Especially if the government policy had already been tightened due to the economic slowdown, as a result of the trade war, the government's money was narrower.
Some countries have magic tricks and experience to print money which certainly makes a country has high endurance.
