Topic: Economy after COVID-19 - page 29. (Read 8979 times)

The International Monetary Fund predicts the onset of the toughest global economic crisis since World War II. Whether it will be so or not, time will tell. However, it is already evident that the economic potential of almost all states has now fallen dramatically. It will take a certain amount of time to restore it. Maybe not just one year. At the same time, unprecedented measures to combat the spread of coronavirus have also shown positive changes in the planet's climate. Everything is changing. After coronavirus, the world cannot be the same.

We hope that the economy recover will not take several years, as you said. But yes, every country needs to rise after Covid-19, and people need to start to works again, no matter if they already lost their job, they will find another job. But I doubt if the cryptocurrency will be implemented in many countries in a short time because many countries still prefer to use their fiat money.

Well indeed mate,i also using my credit/debit cards this past months for i don't wanna have physical contacts in any one or thing outside my house to prevent the virus.

actually this is the only thing that we need to happen in crypto before people finally realizes what they are missing here,they now starting to find Bitcoin and cryptos help benefits and not for anything more.
My friends now starts to gambling online using crypto currency,and also starts learning what Crypto is all about.

so for me there are some percentage of people enters this market meaning online users are now higher compared to before the pandemic comes.

I think that there are a lot of things that definitely will never be the same again... some businesses will vanish or their market will shrink dramatically (like restaurants, concerts, live assistance at football games, etc). The demand for online ways to sort out your daily stuff is rising like never before... i don't belive that there will be a turning back after these new ways of living get assimilated by society in general...
National debts are rising, unemployment too (the society is adapting to an online life and there are a lot of jobs that are lost), so central banks are just printing away like crazy...
Don't know if this is the dawn of crypto adoption... but it sure looks like it

The economy in Nigeria is already crashed down, now the recent news am getting on radio is that the president has just borrowed money for the country again. After former debts which I believe hasn't been cleared. Am just feeling for other businesses which has been closed down for long.

The economy after this pandemic will slowly rise up. Remember, this is once in a century phenomenon, therefore this will have a strong impact to the economies and it will take time for these economies to rise. It will rise eventually but it will take time due to the fact that this phenomenon is very unexpected.

We all understand that the world economy is in a downtrend and cash flow phase, many countries are also stalled due to quarantine. This affects almost all business sectors including micro, small and medium enterprises. de globalization brought the economy into recession because the volume of trade between countries also fell.

Many investors take a wait and see positions while holding their cash money. They are waiting for the results of November's election as a form of certainty of the effects of the dispute between China and America. While the have masters of cash continue to act cautiously and attract existing businesses without investing in new projects. The lack of investment and the decline in investment enthusiasm from investors is increasingly hitting the domestic economy, plus the swelling of the pandemic handling budget makes the economy more difficult.

Even though many governments have loosened quarantine does not seem to affect the mood of investors even they are more careful. The country needs its special mover for the existing groups to push the supply sector back into operation through labor-intensive industries.

recovery time depends on country too  . some have a fast recovery rate because they will allow all business to open up while majority are doing it slowly   .

 less business will be open ,  less people will work or go outside  but thats better because atleast corona didnt totally take over the peoples lives/lifestyle .

is that important ? to occupy or not , its already enough that crypto are now recognized as a legal kind of currency   .

[/quote]
I think the economy will recover. It will take several years. I am a fan of cryptocurrency and I think that in the near future payments in cryptocurrency will occupy one of the leading places in the payment system. it seems to me that the leading place in the cryptocurrency market will remain with China.

What you have said here is not possible in any way mate . You said a world where people are only attached to the online world. Lol how is that even possible, how is it ever going to happen? Me and you know for sure that such a thing is not going to happen, there is never going to be a world where people are just glued to their computers and not going out any more, that’s not going to happen.

You cannot stay indoors with your face glued to the screen everyday of your life unless you’re a zombie . People will always want to go outside, that’s why a lockdown has been difficult to achieve. Fortunately covid19 virus itself getting weakened after every mutation it goes. So, we can expect everything to be restored as early as possible.

Payment processors may not be ready to handle all the world's transactions, but they will as technology evolves in the future. As COVID-19 spreads around the world, people will look for ways to conduct transactions in a contactless way possible. This will force businesses and merchants to change their ways. Digital payments will be the norm of the worldwide economy after the demise of COVID-19. Now that physical cash use has declined, governments have started exploring the possibility of CBDCs. Our economy will be a lot better than what it is right now, due to increased efficiency and reduced costs of Blockchain technology.

Sooner or later, we'll be heading into a cashless society where physical bills/banknotes will be a thing of the past. COVID-19 has only accelerated the adoption of digital payments by a large margin. As more people become interconnected in the online world, the future of commerce will rely on digital payments via credit/debit cards, CBDCs, and even decentralized cryptocurrencies like Bitcoin and Ethereum. The world's economy will recover at a slow and steady rate after the demise of COVID-19, but it's expected that we'll return to normal (hopefully). Just my opinion

I sincerely hope and believe that economy will probably pick up after this Pandemic due to the set back recorded in the periods of stay at home due to pandemic. And strongly believe that every investor would like to gear up for to recover the past lost. Government also will put all strategy in place to get more revenue to sustain the economy of their state.

Because it also takes a long time to restore the country's economy back to recovery and I think the corona virus will not end in the near future so this burden will be borne by the state for a long time, yes of course it will use up the budget because the needs must be met for the community due to activities in limit even the lockdown is still valid then this will complicate the regional economy.
Everyone knows that many of these conditions are experienced, so we have to raise the economy we must look at other people or government policies.

cash will never be replaced i think. there are many people in the world with no bank account because their salary is only enough for them to use it for living at that month. banks might be facing difficult situation for couple of years and some people will terminated from their work too, but in some country they still force their people to work so i think some country will survive even though the death toll will raise.

In developing countries, many small and medium businesses are done from home such as the snack industry, the garment industry, the detergent making industry, the handicraft industry, the street food stalls, the cooking equipment manufacturing. Usually small and medium industries are not affected by the recession. But it is different when the corona pandemic occurs with the lockdown hitting the demand line reaching the street vendor sector.

In this corona condition, all parties are affected, but the most affected are the poor people who can only rely on direct government cash assistance and a helping hand from generous people. While the health industry is indeed the vanguard in the war against the corona pandemic, but the health sector is the sector that receives the most attention from the government and also volunteers at this time given the importance of this line to cover the dark episode of the pandemic.


After the corona ends, the form of the economy cannot be ascertained considering the predicted end of a pandemic. Because after all the pandemic is a burden on the state budget. Therefore many countries have begun to reopen their economies even though the corona pandemic fire has not yet ended. The longer the lockdown, the longer the market is closed, and the longer the activity ban is imposed, the passion and ability to consume will decrease. even though in the midst of the global supply chain breaking up, domestic consumption is the only mainstay of the government to turn the economy.

With this strategy, the government also hinted that economic reopening is not all back to where it was before the pandemic took place but there are a series of regulations that must be obeyed and the government surrenders to the community, following regulations in the hope of survivors or ignoring regulations with choices ending in death.

Some countries and some companies will survive but most of the countries will have a recession, these countries are those coming from third world countries and those with very high numbers of infected.
The economy is not moving and they are supporting the health care and basic needs of their people and many people are losing their jobs people are suffering I guess it would take years before they can get up again because of this pandemic.

It seems to me that the government is already putting up the best option for alternative payment, they are now in testing with Central Bank Digital Currency which might be the biggest threat on cryptocurrency adoption process. But the thing with CBDCs is that they are going to be centralized wherein the taxes is still there while cryptocurrency don't have any of that that might be the best defense from us plus the security that it can provide, we know that the blockchain has immutable data storage. Still, it will depend on the people they choose what they need to use.

I think we are not going to have it "fully" since we don't have any of the system to handle it now, payment processors handling it themselves would need a lot of work, but this is not impossible to happen in 2 to 3 years especially when we defeat this pandemic. As our technology advances, my hope for cashless society is getting bigger, it's like a dream in a process to come true.

That's certainly true, mate. Most people are already using digital payments through credit/debit cards or ACH bank transfers. Adopting a CBDC will be no different than doing so with already-established payment methods of today. The end user will notice little to no difference when performing transactions in the mainstream world via digital Fiat. I guess that the benefits will mostly apply to central banks themselves as they enjoy greater efficiency at a fraction of the cost via the use of Blockchain technology.

One thing for sure, is that we'll be transitioning into fully contactless payments after the end of COVID-19. People will be accustomed in working remotely and using digital payments, that they will not go back to how things were before the pandemic. Our world will not only change economically, but also socially and politically. It'll be a radical transformation as we enter "The Fourth Industrial Revolution". COVID-19 has accelerated the development of new technologies in ways that we've never imagined. Sooner or later, physical cash will no longer exist leaving credit/debit cards or digital Fiat in the lead. Old people may find it challenging to perform digital payments, while that won't be the case with young people.

Eventually, everyone will end up using their Fiat currency of choice in a completely digital manner. CBDCs could either live on a global public blockchain network, or one of their own (private). Considering that Ripple has made a lot of bank partnerships over the years, the XRP Ledger looks like the ideal candidate for CBDCs worldwide. Governments could either turn into Blockchain technology, or simply rely on centralized databases for their own digital currencies. Whichever way they decide to go, we cannot deny that our economy will drastically experience a boost in a new way after the demise of COVID-19. Just my thoughts

What do you really mean by home industry? Are you talking of the movie industry or what?
Anyway, if you mean that, I don't think so. Industries that will suffer more are the ones that are now providing services to patient of covid-19 especially the hospitals. A country that doesn't have good health system will suffer now and later.

Who knows when COVID-19 will be contained and how many rounds of mutation we will face.

But once all is over I think we see the old trend continue - higher growth rates in Asia with a very slow recovery in the West. Europe in particular is just lagging behind in innovation and investments. With the poilitical turmoil on top, the outlook for the developed nations is not bright.  I would keep investing in emerging markets.