Topic: How do you estimate resilience of economy in your country? - page 2. (Read 712 times)

If we look at the statistics of those infected and die from COVID-19 in Switzerland, then we cannot say that they did very well. With 34 477 cases and 1978 deaths compared to some countries of similar size is not a very good statistic. But Switzerland is a country that relies mostly on its financial (banking) sector, and because of its neutrality keeps huge amounts of money, gold, art... This sector has not been shaken by the crisis, which can be seen in the very small forecast of a fall in GDP for the current year.

Therefore, we can say that Switzerland's resistance to the crisis caused by the pandemic is very high.

Those are the countries that have suffered the least. Switzerland and New Zealand were already on their feet so they don’t have anything to worry about as the virus didn’t hit there as hard as it did in other countries. Among all the other countries that have actually taken the hit, I would say that United Nations, India and other European countries appear to be doing really well to prevent their economy from drowning and contain the virus as well at the same time.

I hope that all countries start thinking about new strategies to boost their economy and keep fighting the pandemic.

Many politicians in the government do not understand the ability of the state. Strategic mistakes in managing the State have a profound impact on its people, and sometimes the damage will only be felt in the next few years. Many heads of state do not dare to take revolutionary policies because sometimes they still pay attention to their political careers. Statesmen must be able to sort out which opportunities and threats, many fail to understand this due to soft diplomacy from other countries. National goals or interests never change, only the strategy changes.

We take the example of China's OBOR policy. Many countries are happy, can build without any capital outflow through foreign direct investment, even though this is only a Chinese marketing strategy to exploit and force a country to accept a debt package from China. Whereas China's goal is only to create a new market for Chinese manufactured goods and labor and without a dollar, but in the end, it will increase the foreign exchange of Chinese dollars. But many state officials do not understand this, even rolling out a red carpet for China.

I find interesting that for the most part this was because they did not wanted to damage the economy as much but this only worked for the short term, as the sick went up and the number of deaths as well at some point they will be forced to slow down or even stop the reopening of the economy causing even more damage long term that if they had followed the advice of scientist and stopped the economy for a month or two, which show us once again that if you have two choices between a short term benefit and a long term one always pick the latter option.

There is no doubt that in this situation the country's position is crucial, and this is definitely seen in the number of tourists coming - although the situation with new infections is not overly bad - from 20 to 100 a day, we are lucky that almost all the cases are related to the continental part of the country, and if the authorities are to be believed, the coasts and islands are quite safe. Unfortunately, when a country is in a situation where its entire economy revolves around tourism, then there are not too many choices than trying to maintain a positive image of a safe coastline.

However, as far as I can see, the southern part of the coast and the islands are not doing very good - but the northern part has very good results, which again leads us to the fact that tourists want to shorten their trip as much as possible.

Resilience of an economy for me is to what extent it can rebound from crisis situations. In my view this is a multi-factoral issue. It also has to do with reliance on external economies, dependence on single points of failure like oil prices, trade embargoes from potential monopolies there's a dependence on, closure of trade routes etc.

The strategy and stability of any given political system is also vital here. Sometimes the decicion making mechanisms and local politics can put a chokehold on any potential attempts for a stable and sustainable recovery.

The resilience of the economy of a country relies particularly on how efficient the plans of the government is working to quickly get into recovery after suffering from a crisis. This could be done more effectively if the people will duly coordinate with the government to execute the plan successfully to benefit its people of course because that must be the aim of the government to keep its people benefited since the fate of the country's economy depends on the productivity of its people to create effective, strong and productive man power.

Right now, what I can say when it comes to the resiliency of our country, well it is somehow not that good enough because the process is somehow taking slow all due because people are not that cooperative and the government is somewhat not that approachable on which they tend to focus on other issue rather than first resolving the societal issue affecting the welfare of its people. But the response on the help given for the people who are directly affected by the pandemic is good because somehow all are being taken care of and that was pretty good. So far the resiliency our country has might be 40-50% not that so much good but not as bad as well.

When it comes to our government effort, I think our country have done more than enough to think that we have already borrowed funds from the World Bank just to be able to buy protective gears and supplies for our front liners to keep them safe while they were doing their task to serve people at this time of pandemic. Also, the funds are used to support those who are needy and are directly affected by the pandemic most specially those that have loss their jobs in accordance to the implementing community quarantine on which public transportation drivers are temporarily not allowed to take their ride to prevent the spread of virus from public transportation services.

When it comes to the people, I think here goes the problem because even our government is extending its help to support them, they are still keep on complaining and even asking for more which is hard because our fund and resources is really limited to support their demand. I guess if people will act accordingly and just coordinate with the government, we can solve this one out on at least reducing the spread of virus.

I think China have done it as fast as possible despite of the fact that the pandemic have started from them but still they have been able to cope up and act fast. There are also other countries in the world that have already claimed to flatten the curve of infection and have fully recovered their infected personnel.

For me I think we have not done enough to cope up into this situation. I said WE because the one to act must not be just the responsibility of the government alone but the people must coordinate and act accordingly to what the plan, the rules and regulations being mandated so that we can eventually resolve somehow the problem with regards to the spread of virus. No pointing fingers of who must act because we are all together in a certain country where we reside so the fate of it will depend on our hands.

With the current state of the country where I am currently living, I think we are still not yet doing everything because people are still into complains more than follow which makes it hard for the government to control the rise of the infected cases and end up supporting a lot of people being affected. It's been a couple of times that the government have been stating the plan for intervention but the people here are all hard headed to follow because of too many reasons.

If we will be able to come up into better understanding, I guess that would be the time I can say that our country have already done everything to the extent that we can already control the situation and the next chapters would follow on which we can eventually make our economy fully alive once again.

Unfortunately many countries experienced the same. A lot of corrupted officials that want to use pandemic for their own gain instead of serving community. I always say that bad things encourage also many bad in people and this pandemic has proven this theory. In some countries politicians really don't care for their citizens and there the crisis will hit people really bad.

The US is doing quite okay in terms of economic resilience, if you look on the middle-class and the wealthy elites. However on the side of those who are making ends meet day by day, it's not really a good picture. Most are still deep in debt and are just doing anything they can think of to make some money. Meanwhile here in the Philippines, I don't know what went through the minds of the officials that they are making things harder for their citizens. After 4 months of quarantine, they are just realizing the COVID-19 is the real threat lol. Their 'care package' for the middle class and poor people remains to be distributed as no one knows where the money is currently. The Philippines, IMO, is fucked.

I think not. They are not aware of what is happening and they are just making law after law that is not even about fighting the virus but protecting themselves about the criticism of their citizen. They care more about a certain country's workers rather than their own that they even close a TV Network where thousands of workers there became unemployed and one of our "great" senator saying they should find job elsewhere.

Not even realizing how that means to the country and for their people. While these foreign workers in POGOs are supported by them

The same country that we live in is very much affected by this pandemic. The economic crisis that occurred made all sectors disrupted, such as the health sector, the socioeconomic sector and the business sector. All problems in the sector must be dealt with seriously so that it does not become an even worse crisis.

Various recovery programs for the business world carried out by the government aim to encourage the business sector, the business sector and the real sector to survive even if they are not carrying out economic activities. There must be no massive layoffs.


Supporting MSME businesses and buying products in the country will improve the economic system to keep going and growing.

The government is holding back so that economic impact does not lead to bankruptcy, when this corona ends, the process of economic recovery can go well.

Oh, I should have mentioned, the occupancy is compared to the same months from 2019, not the entire season, that is done for, even if we go full blast with the whole traveling around Easter there is no chance of catching up. But on the same time, we don't have strong summer tourism since we're landlocked so losses from the summer months might be slimmer...don't know....
What we draw most tourist is city breaks, and it's that what's generating around half of what was before, mountain resorts are dead, probably the numbers might be better in campings and individual booking but still, I can see on all the live cams around the country, it's nothing like 2019.

As for Greece, they might pay the price for being a bit too far away for the worried tourists, it's one thing to go back from Croatia to Germany and another one from Greece, especially if you end up stranded on some island, not all have international airports like Mykonos.
A trip from Vienna or Muchen to Split by car seems doable without headaches in ~8h, try that to any Greek island.

The inflation is the reason why goods and services are keep increasing while the salary in real job is stagnant. I already quit in job long time ago in corporate world because I do not paid too much and I do not want comfortable job. Comfortable job will only give me comfortable life and it is not what I want. I want to have lavish lifestyle and it is the reason why I take different risks in the cryptocurrency market. The economy of our country is recovering a little and for sure it will take many years to fully recover. It is so sad to see many people lose their job while there is pandemic. The economy for sure will change not only in my country but in the rest of the world.

I estimate it depending on my bills and my grocery shopping list. If I am paying a lot more this year compared to last year (I am) that means I am getting worse and it makes things a bit harder because our pay is not increasing too much, it is increasing a little, we have to work a lot more and in return we are still paying a lot more anyway so our live quality is dropping.

Instead of working 6 hours and making the same amount of money and paying the same things and having the same life, I am working 8 hours and making a bit more but I am paying a lot more so even though I am working more I am still forced to cut down on some other stuff, I have dropped my quality of life in face of economical challenges couple years in a row now and it makes things harder and harder and it is difficult to enjoy life because of it.

For my country, if we continue the way we are going without looking for ways to improve ourselves, then we might as well be hit hard by the coronavirus. I am not wishing for such a thing to happen, but if we are not serious that's what's going to happen.

Apart from America, countries that have too many cases of the Coronavirus will have their economies pulled back, unless they will look for ways to get around this situation and get things going even with the situation at hand. It's not going to be easy, and the countries with poor economies before now are the ones I pity the most.

Especially most of those countries who are in a third world country, we are really struggling right now as our government have insufficient funds towards this crisis.

What can we do? We are just a citizen that is living and dealing with the reality of life, so the only thing that we can rely on is their plans and approach on how they will handle this pandemic properly and on how we can overcome economic crisis.


But if you do understand how this virus can spread faster, you will not implement a new normal because the cases are still increasing. But how about our economy, if the government doesn't do this opening of businesses, we will really have a huge debt in other banks.

The only thing that we need is a trustworthy and organize government and not those corrupt politicians.

Most of the people are thinking with that same thought, we really can get through this, but that's not enough for this discussion.

We want to know your situation if the government in your place is doing good or fine.

It is really hard to think about the reality that we are suffering in this kind of situation. We are trapped and struggling and it depends on our government on how they can make our feelings better. Economic crisis is not a joke and most of us are really struggling financially. Just don't blame your government, instead speak about truth to address the main focus on this crisis, and so that they know their priority.

Unfortunately my country is still bad in overcoming the COVID-19 pandemic, economic recovery has not been maximized and
the handling of vulnerable citizens is still a mess. In contrast to China, New Zealand and South Korea are very fast and effective
ways to suppress the spread of the corona virus. And also economic recovery fairly fast, but compared to my country there are
3 countries that are very bad at handling COVID-19 namely the United States, Brazil and India. These three countries have the
highest number of corona positives. Hopefully the vaccine can be found soon, so that all countries can get up and recover their
economies.