Too bad that i belong to a country with only limited resources. Our economic resilience is very low, and though the Government here really did their best to give aid to the people and provide the necessary industries, what they need right now...but still, its not enough. Because, we are a poor country with many hard headed people that do not follow all the strict protocols pertaining to their safety. And the worst of all, some of the Government leaders are Corrupt, that is why, most of the people here are starving and got so depressed.
I think the Countries that handled this Crisis pretty well are, Taiwan, Japan,Thailand, New Zealand and Switzerland. Being able for them to contain the Virus and flattened the curve in their Country is abosulutely Awesome! And for sure, i guess they have a high economic reselience, and i really commend their Government's great performance in handling their country and the people amidst this Pandemic.
Topic: How do you estimate resilience of economy in your country? - page 4. (Read 702 times)
I feel that my country's economic resilience is quite low. The reason is that, corrupt officials saw an opportunity in this pandemic. They(corrupt official) rob them(beneficiaries) of the supposedly financial aid in times of crisis and the government seems too slow to address the issue. Aside from that, I hate to admit that, in my country, there are lots of government officials who are incompetent. And it was exposed in this pandemic. Their actions and decision in addressing issues in relation on minimizing the spread of the virus and re-establishing the economy are so pathetic, even claiming to flatten the curve when the result on positive cases had grown a lot.
In most of the countries small scale business will get more attack than other sectors because that is where normal people like to spend their more money but now due to the unemployment people will have no money to spend which will greatly affect growth rate even it gone negative on many countries already.So governments need to support those small business first before clearing the debts of big corporates.
Switzerland and New Zealand seem to have handles stuff pretty well and potentially Germany and Japan but I haven't looked much at other economies.
Switzerland GDP is down 2.6% in Q1 and NZ is doing very nice with just 1.6% drop, but Germany and Japan are on very close percentages (2.2&0.6%). But this is only for Q1, projections for 2020 compared to 2019 give much more negative figures which is understandable given that the real consequences will begin to be felt only in Q4 and after that. The following infographic visually shows us what this might look like.
Source
From prior crises, your country's pretty stable if its gdp doesn't fall by more than 50% - a pretty high figure but I don't think it's as devastating as it sounds.
I'd ask you if you're kidding, but you're probably serious about claiming that if it's not more than 50% drop in GDP than it's not that bad. According to your interpretation, then the world economy is not in any problem, if our global prospects for GDP decline are only 6%. So the projected drop of 11.5% in your country will not affect your or anyone else's life, but I think you are completely wrong. Such a decline has not occurred in Europe since World War II, or perhaps since the Great Depression almost 100 years ago.
In a revised forecast presented Tuesday, the German economic experts conceded that the country's output would shrink by 6.5% this year, plunging the nation into its worst recession since the end of World War II.
We are all aware that economic crisis is coming as a consequence of COVID pandemic and therefore probably will be deeper and harsher that we thought at first.
Do you think that your country has done everything to cope successfuly and rescue economy, support businesses and most vulnerable citizens or not? What do you think which country in the world will fight the economic crisis best?
I can tell about my country. India was the first country to put lockdown restrictions and despite of that we are on number-3 on the world list. Talking about economy we were offered a hefty fiscal package with some big numbers but as usual they just remained numbers. Currently the stock market looks a bit stable but economy in reality is terrible. People are jobless and unemployment chart is at the peak. Talking about this, I am pretty much sure that stock markets are going to come down too. Lockdown opened when their were around 2 lakh cases and now we have more than a million infected. Do you think that your country has done everything to cope successfuly and rescue economy, support businesses and most vulnerable citizens or not? What do you think which country in the world will fight the economic crisis best?
But talking about country which could cope successfully I think it would be USA for sure. They have elections this year so definitely the leaders would try their best to come up with plans to improve economy. European countries get a lot of revenue from tourism so it's harder for them to recover because aren't going to see tourism for quite some time.
Do you think that your country has done everything to cope successfuly and rescue economy, support businesses and most vulnerable citizens or not?
Here in my country, I think not.
Our government authorities here are not that responsible in handling this pandemic that's why we are having a hard time to minimize the number of cases per day.
Government here is really corrupt and they are focusing on other political and social issues rather than this Covid-19 pandemic.
What do you think which country in the world will fight the economic crisis best?
Obviously, it is China, where the Covid-19 pandemic was started, and the number of cases in their country are very small compared to other countries right now that are almost in a 100,000+ active cases.
Chinese government managed to handle this pandemic properly that's why their businesses are now open and they started to operate again.
Also, they are the number 1 manufacturer of most of our goods and those PPEs that's why their economy is really alive and they don't experience economic crisis for so long.
One position is that resilience of the economy can be determined by how much intervention was (and will be) required to prop it up during CV19.
Global free market capitalism has proven to have almost zero resistance. Those countries where business has the strongest voice are those that have been most reluctant to implement and maintain lockdowns and other approaches that might mitigate the spread of the pandemic. Take the US as the extreme example of a nation where the companies have too much power. The politicians are in their pockets, and the pressure to open the economy again was too great, resulting in a re-opening far too early and the horrendous situation we have there now, which will only worsen. Whereas those countries where the government is stronger, are more resilient. Looking at China, in particular. For all its human rights abuses, the lockdown when it happened there was swift and decisive, and not lifted until the correct time.
Global free market capitalism has proven to have almost zero resistance. Those countries where business has the strongest voice are those that have been most reluctant to implement and maintain lockdowns and other approaches that might mitigate the spread of the pandemic. Take the US as the extreme example of a nation where the companies have too much power. The politicians are in their pockets, and the pressure to open the economy again was too great, resulting in a re-opening far too early and the horrendous situation we have there now, which will only worsen. Whereas those countries where the government is stronger, are more resilient. Looking at China, in particular. For all its human rights abuses, the lockdown when it happened there was swift and decisive, and not lifted until the correct time.
We are all aware that economic crisis is coming as a consequence of COVID pandemic and therefore probably will be deeper and harsher that we thought at first.
Do you think that your country has done everything to cope successfuly and rescue economy, support businesses and most vulnerable citizens or not? What do you think which country in the world will fight the economic crisis best?
Do you think that your country has done everything to cope successfuly and rescue economy, support businesses and most vulnerable citizens or not? What do you think which country in the world will fight the economic crisis best?
Crisis is so high here to many unemployed people on neighborhood and I think the situation will became worse if covid will not be beaten, experts should really needed to develop a good vaccine as soon as possible since if they failed for sure the economy here as well on the other country will at risk.
I already notice that the government funds is slowly drained for spending on how to beat it and other personal protection.
In my country our government is trying to do all they can for the people,but it's not really enough due to lack of budget to solve all needs such as food,work, specially for the medical needs of people affected by the virus.
The best thing to do to help yourself and so on for the economy is to build a small business to sustain you daily needs. Because the crisis of the whole world will definitely last a few more years.
The best thing to do to help yourself and so on for the economy is to build a small business to sustain you daily needs. Because the crisis of the whole world will definitely last a few more years.
Our country is about to open the airports again for foreigners on August 1. But I haven't read the whole details about it although it's going to be limited for those people that has a long term VISA. I think they're dealing with the economy better but in the combat against the pandemic, it's hard to say. I'm supporting our government with every step that they do but it's also hard to see that your countrymen aren't united. Our government has to open its economy again because if it wouldn't, many will die from starvation but the other challenge is about the continuous increasing number of infected cases.
Do you think that your country has done everything to cope successfuly and rescue economy, support businesses and most vulnerable citizens or not?
The US government has done very little to help the most vulnerable. They've bailed out some groups; mainly homeowners, displaced full-time workers who qualify for unemployment benefits, and a good deal of "small" businesses. Renters, informal and immigrant workers, students, long term unemployed, etc. (who I would consider the most vulnerable) have gotten the short end of the stick. They are the ones who missed out on the bailouts, stimulus checks, extended unemployment, etc. while still having to make their monthly housing payments without forgiveness.
The Fed and Congress don't want the middle class liquidating their retirement accounts (crashing the stock market) to pay their mortgages, so they let them stop paying their mortgages. They also don't want the housing market crashing from foreclosures, so......they let them stop paying their mortgages. Since poor people don't spend nearly as much money, don't own their homes, and don't own stocks, they aren't a major policy concern for lawmakers and don't deserve to be bailed out.
It's a very depressing sort of rationale, but it's also understandable. They are propping up the economy, not trying to help vulnerable people.
We are all aware that economic crisis is coming as a consequence of COVID pandemic and therefore probably will be deeper and harsher that we thought at first.
Do you think that your country has done everything to cope successfuly and rescue economy, support businesses and most vulnerable citizens or not? What do you think which country in the world will fight the economic crisis best?
Do you think that your country has done everything to cope successfuly and rescue economy, support businesses and most vulnerable citizens or not? What do you think which country in the world will fight the economic crisis best?
I think this is first come first serve basis. The country which successfully recover the pandemic situation very firstly will fight the economic crisis best. As CHINA made control first they are first priority and we also seeing that in this mean time CHINA has already moving their economy like previous way not only that South korea, Japan, Newzealand, Srilanka etc are more advance in control of nCOVID. So every government which come to control first basis will move their economy fast way.
thanks.
Do you think that your country has done everything to cope successfuly and rescue economy, support businesses and most vulnerable citizens or not?
My country is struggling to get out of the possibility of an economic recession even though it looks difficult, especially today I just saw the news that the curve of people infected with covid-19 has increased since some restrictions have been relaxed, I'm worried about the second wave that is very likely to occur if see the factsWhat do you think which country in the world will fight the economic crisis best?
I think China will become a country whose economy is experiencing growth during this pandemic
Do you think that your country has done everything to cope successfuly and rescue economy, support businesses and most vulnerable citizens or not?
No, we didn't receive any stimulus package 
, the only thing our government did was to reopen the country, doing only that imo cannot put the economy back on the fast track, there is no encouragement for business owners to start where they left of, no easily accessible loans, the government is even owing workers in some sectors salaries for a few months now. In my country atm, there is no incentive to work and for private businesses, you must recover all by yourself.What do you think which country in the world will fight the economic crisis best?
Countries that were not in huge debt before the pandemic and had a stable economy will beat the economic crisis more, they wouldn't experience daunting decline, so getting back up will be faster than countries previously owing billions of dollars plus an unstable economy, the pandemic made their already worse situation worst.
Money makes the world go around... so I think the country with the most money will be able to provide the best health care and also the best scientists to come up with a vaccine to combat this virus. The countries to be most likely to succeed will come from the first world countries and the countries that would suffer the longest will be the 3rd world countries. 
My country have a lot of arrogant politicians and also a lot of corruption... so my countrymen will suffer for a very long time. Political leadership and good decision making is key to the successful combating of this pandemic.
My country have a lot of arrogant politicians and also a lot of corruption... so my countrymen will suffer for a very long time. Political leadership and good decision making is key to the successful combating of this pandemic.
LOL I sure as shit know the United States hasn't done everything we could've done that's for damn sure. The problem is mainly on the Republican government side of things as they to mainly appease the president were much more lax in lock-down and now it's backfiring big time. If people would just wear mask and listen to SCIENCE, it would help a lot.I can agree that US haven't taken pandemic seriously enough. Also, they thought after a lock down economy will recover very soon but that will probably not be the case. Also, they opened too.early and now they are facing two big problems, big number of infected and dead and economy that is not getting stronger. I'm not sure they have a right receipe for way out.
I think there would be a correlation between countries that responded quickly and effectively to the outbreak and those that will be able to best recover from the projected economic downturn, such as South Korea, Germany, Japan.
Global economies are however interconnected and the major sources of revenue of a nation would influence how quickly it can recover. For example, a country that is heavily dependent on travel and tourism like Greece cannot effectively function as long as its borders are closed, even if they responded quickly to the outbreak.
Due to ineptitude, corruption and lack of trust in the government by her citizens, my nation is facing a longer spell and this would likely prolong the recovery process as the numbers continue to rise while more jobs are lost. Coordinated response from some cities has however been commendable and led to some isolated success.
Global economies are however interconnected and the major sources of revenue of a nation would influence how quickly it can recover. For example, a country that is heavily dependent on travel and tourism like Greece cannot effectively function as long as its borders are closed, even if they responded quickly to the outbreak.
Due to ineptitude, corruption and lack of trust in the government by her citizens, my nation is facing a longer spell and this would likely prolong the recovery process as the numbers continue to rise while more jobs are lost. Coordinated response from some cities has however been commendable and led to some isolated success.
LOL I sure as shit know the United States hasn't done everything we could've done that's for damn sure. The problem is mainly on the Republican government side of things as they to mainly appease the president were much more lax in lock-down and now it's backfiring big time. If people would just wear mask and listen to SCIENCE, it would help a lot. We are all aware that economic crisis is coming as a consequence of COVID pandemic and therefore probably will be deeper and harsher that we thought at first.
Do you think that your country has done everything to cope successfuly and rescue economy, support businesses and most vulnerable citizens or not? What do you think which country in the world will fight the economic crisis best?
We are managing but things could have been better, at least the debt to GDP ratio is not that bad and we are not getting more indebted, however many jobs have been lost and it is unlikely we are going to see those jobs being recovered during the next 5 years and that is if the effects of the pandemic stop now, which is not going to happen, as such I see a difficult future for many people especially if the predictions of the experts are correct and the next wave of the virus is even bigger than this one. Do you think that your country has done everything to cope successfuly and rescue economy, support businesses and most vulnerable citizens or not? What do you think which country in the world will fight the economic crisis best?
Switzerland and New Zealand seem to have handles stuff pretty well and potentially Germany and Japan but I haven't looked much at other economies.
From prior crises, your country's pretty stable if its gdp doesn't fall by more than 50% - a pretty high figure but I don't think it's as devastating as it sounds.
From prior crises, your country's pretty stable if its gdp doesn't fall by more than 50% - a pretty high figure but I don't think it's as devastating as it sounds.
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