Topic: How do you estimate resilience of economy in your country? (Read 702 times)

The countries are fighting against the COVID 19 pandemics but they cannot make their people believe that being at home in isolation is the best way to deal with the pandemic. Some countries generate income from services and the absence of tourists means that they are not generating revenue. GDP of different countries is calculated differently thanks to the structure and proportion of different industries, the pandemic will affect the economies of these countries differently.

From what I heard a few weeks ago, Nigeria had hotspots but on the whole was fine - not sure if thats still the same.

And yeah I think a 50% drop is still recoverable, countries that took a 20% drop like the UK didn't seem to suffer that much.

Switzerland got added to the fly and self isolate list from the UK also and I think the capital of nz is in lockdown. In defense of Switzerland, they're quite small and close to Germany and France so they've done well managing this far.

It seems smaller countries have a handled the pandemic much better so far - and the UK seem to have split into smaller segments too of at most 5 million people - it'd be nice if we could keep the devolution further even if it is bigger blocks of 5-10 million.

I don't know, that sounds pretty devastating to me--though I'm certainly not an economist and haven't had too much economics education except for some college courses taken years ago.  Hopefully we don't start seeing countries having their GDP fall by that amount, and if we do I'm hoping there's a quick recovery.

Yeah, it seems like Europe is doing OK so far, as is the US and Canada (not sure about Mexico and S. America).  That doesn't surprise me, since those are all well-developed economies and were running strong prior to the COVID-19 outbreak.  The US (where I live) is pretty resilient I think.  Hell, look at the hit we took during the banking/housing crisis in 2009.  Things were looking exceedingly grim back then, but we survived it and the stock market has been in a continuous bull market ever since then.

I'm curious about the third-world countries and how their economies are coping with this pandemic.  I don't hear any news about what's happening anywhere in Africa or parts of Asia--except for China and Hong Kong, and they're developed countries with resilient economies AFAIK.

There's still lockdown though, we still can;t cross from city to another but prices of the daily needs are still the same, the government so far is doing good which I guess if they didn't there would be chaos already in terms of prices and hoarding of products. The government is also providing food supply and stimulus package for every family, there is just the need for every family to also cooperate and not spend on unnecessary things because they only provide enough.

As for my country here, they did not do anything to support the citizens affected by the epidemic, nor did they do anything to improve the economic situation of the country as a result of the epidemic. I think this is the same for most third world countries.
As for the country that I think has done good things to fight the epidemic and improve the country's bad economic situation, I believe that there are countries that have taken a series of successful measures to address the epidemic in a healthy and economic way, such as Denmark and Singapore also, I think that China has done a great job to fight the epidemic as well as improve the economic situation that has deteriorated as a result of the epidemic .

Some countries have tried to save what could be saved from tourism, but although some have managed to achieve fairly good results - the consequences of full opening are only now becoming visible in the number of newly infected cases. Take, for example, Spain, which is the leader in the number of infected in the EU, and the fact that they have 205.5 cases per 100 000 inhabitants. France has 85.1, Croatia 84.4 (which is huge for a country with less than 4 million people), and Malta is counting 101.5 infected per 100 000 (only 519 000 inhabitants).

All these countries are already experiencing a second wave, and the summer is not over yet - while forecasts say that winter this year will come very early, which will only worsen the situation. Tourism yes, but with restrictions and bans on gathering large numbers of people indoors, which is mainly the reason why young people became infected while enjoying nightclubs.

https://www.ecdc.europa.eu/en/cases-2019-ncov-eueea

I believe that one of the most important problems in many countries is not only the coronavirus, but also Corruption. Officials who constantly steal money receive big profits from big business, heavy industry and energy raw materials and resources, and in the current situation in every country this sector of the economy is working properly, which primarily replenishes the pockets of rich people and officials, but not the state treasury and does not work for the welfare of a kind of people. That is why officials do not bother to find any other solutions to solve the problem, because their incomes are not decreasing. In some countries, the second wave of coronavirus has begun, and in some of which the first wave has not yet ended and governments are imposing such restrictions that it destroys small and medium-sized businesses. This applies primarily to the countries of the post-Soviet space.

Some countries are richer, and when you have the money you will solve problems faster, you will buy the equipment you need, you will buy food or any other help, with money you can do almost everything! I don't estimate the resilience of the economy in my country, I don't think I have all the facts. What we have is what official tells us, and I believe they are lying us. If you have all the wrong facts, every time you try to estimate it you will have wrong results. It's better to not have an opinion than to have the wrong opinion.

This thing has been done by the government when the first time covid 19 took a place. Indeed, this problem can't be done quickly, maybe they need more time to make theie economy run normaly.

But I just thinking, as long as this virus still spreading and kill many people the economic will never run normaly. There will be a lot of companies and another sector who will close the activity and this thing that makes the economic situationg getting worst.

This is a awry situation, in one side we need our economic back tor normal and in another side we have another threat which can kill us. So, in my perspective the government should find a vaccine first to make us comfortable to face our daily life. We just need to afraid anymore and this thing will make the economic situation run normaly.

Every country was affected by this Pandemic Covid 19. However there were still countries who considered more to continue operating businesses to support its economic aspects eventhough the cases of infected is rising continuously..well theres nothing we can do if the government implements that aside from being more careful and aware on preventive measures of being infected..Im just wishing that corrupt officials will be eliminated from the position so it will lessen the burden of the community and its sovereignity.

I think it's 50/50. The Government here is more focusing on revenge from political issues. I can see the urge to give aid to people and to restore the economy but Corruption is always here, giving so much hardship to everyone especially the less fortunate people. Opening up slowly the economy brought more health risks that the cases is record higher each day. The Health Frontliners are getting tired about it. So sad to say that we are getting worst as a whole and we are running out of resources.
To answer the last question here, I am happy for New Zealand, Thailand, Japan and Taiwan. Based on the news, they are now Covid-19 free. The Government of this Countries handled this war of the Unknown pretty well for sure.

There are few things to consider here :-

1. Countries like New Zealand where there is less population and the recovery is really fast will handle the situation much better and they have proven that time and again .

2. Countries where the scientists are working towards making the vaccination for the COVID-19 like US, India , UK

3. Countries which are not dependent on other countries for things like food and basic necessities , industrially independent countries like China , India

4. Countries in which the Government is realizing the importance of the situation and distributing , food , masks , sanitizes , making sure people don't have to choose between insulin and groceries ! !

5. Countries providing jobs for the people who became jobless during the pandemic.

It's not dependent on anyone , it's dependent on the leaders .

I believe that first of all it is necessary to take into account the work of the government, and not the country's capabilities when restoring its economy. In many cases, the problems that exist in many countries should be blamed primarily on the country's not professional leadership.

Looking at government policies in my country, it's possible to restore the economy. Although it takes several more months to be seen
the effect. There are some countries that I see that economic security is quite good, such as South Korea raising taxes to several
sectors considered recovering the economy quickly enough, and also China with its government support several businesses to make
the economy China is getting stronger.

In my country, everything is in shambles. Government officials are corrupt and they do not hide it anymore because they are protected by the current regime, they always threat people that there will be violence if they criticize their way of governing which is shitty. Not to mention the law enforcers are the rule breakers and the politicians are crybaby, they can't take the criticism. The other bigger problem is that there are so many blind people that tries to justify the immoral actions of the government. Instead of focusing their efforts on the pandemic at hand, they prioritize the disbandment of a TV network and imposing a law that arrests alleged terrorist without warrants which is shitty because the government have the power to prosecute activists by labeling them as "terrorist". I do not know how they focus their energy in creating this shitty situation but I hope that people will wake up from this injustices commited right in their faces.

This is key, each country is different, a country like Switzerland that depends so much on their banking sector is doing fine and will keep doing fine for the foreseeable future, but countries that depends heavily on tourism are doing horribly as international travel is still heavily restricted due to the pandemic and I will not be surprised if this keeps up for at least another year and those countries have the real possibility face an economic crisis during the short term.

United nations and Germany seem like the most capable countries to fight the economic crisis at the moment. Their economic is already better than the rest of the world. The countries that actually need to worry about the crisis are the third world countries where economy has always been a trending issue. Amidst the global pandemic and all the chaos going around in the world, I think that my country is doing quite better as its attracting business proposals from various countries that previously had their base setup in China. Also google recently announced new proposal for my country and so did Apple.

This is just from my point of view but I don't think our country have done everything to those you've said. If yes, then I don't think it was enough. I think that instead of focusing on how we can slow down and even make the curve go down, our government focuses more on things that won't help the country cope with the situation. Our country has the highest positive cases in South East Asia now. And from what I observe, thousands of new cases are added each day. With that said, I don't think our country is resilient enough. If it is, then this wouldn't be our situation right now.

Resilience could be in the people not just the economy exactly, theres good reaction and behaviour to this unknown quantity of virus and theres been poor handling also.   Just by numbers, a country which has a better trade deficit, ability to produce export and demand goods in exchange should be able to get through this where countries with alot of debt already before this disruption may find resilience is poor.     Ultimatly I do place the wealth of a nation with its people who can change their actions at any point, usually it takes time to develop.
  I believe the Asia economies are far ahead of us on this need to isolate to reduce flu type disease, they seem to get this problem more often previously so its now advantage when its become to lethal.

all countries will certainly do the best way to overcome this pandemic so that people can avoid the difficulties that will be experienced from the pandemic. there are many ways the government can do for each citizen can carry out activities well and can avoid sustainable transmission, and the economy continues to run well.

As the colleague above said that Switzerland is not among the best if you see the rate of death that is quite a lot seen from the total number of its citizens, but it should also be appreciated because the cure rate is quite good. in fact, I agree that New Zealand is very significant because the death rate is very small because the level of confirmed illness is insignificant, this indicates that the New Zealand state is quite responsive in overcoming this corona pandemic.

what about the economies of each country, of course it will still have an impact because this pandemic is not over and the possibility of a subsequent pandemic can occur if it is not vigilant.
with unexpected costs incurred by each country will certainly have an impact on every country that uses its foreign exchange reserves to cope with this corona pandemic.
no one felt that their economy was not interrupted because the world bank alone could predict that the growth of every country affected by the corona pandemic would experience a deficit.

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.

Figures from 2019 can not be achieved because the pre-season was completely absent, but some countries are recording quite good results even in such conditions. Take for example Croatia where some regions have up to 60% capacity utilization, and the average is around 40% - and on the other side Greece is only at 7% compared to last year. Of course, the main reason for these results is the proximity of the Croatian coast to Western Europe, but also a large number of car camps where accommodation is quite cheap and people feel quite safe.

CNTB: More than 600,000 tourists in Croatia

The economies of every country in the world have gone down a lot attempts are usually made to prevent the virus through the lockdown however, no country has yet taken any steps to improve the economy. But China is far ahead i think we need to spend more on the health sector to overcome the crisis this will make it much easier to deal with the virus.

Well, till now I have the feeling Europe went pretty well though nearly 2 months of total lockdown, a -6% decrease in GDP compared to the gloom and doom scenarios that were circulating back in April and May are pretty good, especially since this not caused by failure but by a stop imposed.

As for my country and pretty much all the other small countries in central Europe I think we're doing pretty good even compared to the western ones, we've been hit far less in terms on infections and deaths, the rise in new cases which was obviously going to happen is not alarming yet, pretty much almost all the industry is at full power, and the construction and auto sector is almost unfazed, same for agriculture, the numbers show that draught was taking a bigger toll than the epidemic.

Tourism, that might be a problem, it's not rebounding and it will probably never hit the last year numbers till the end of the year, right now occupancy levels are around 25-40% of what they were according to the news but the best percentages are in the capital not in resorts, so even those low numbers might be misleading.
But overall I'm feeling more optimistic by the day, the only negative thing is what the fallout from the US might bring, no matter how far away and with little trade and interaction we have directly when the US sneezes we always end up with a fever.

If I will base it on the number of the cases right now to the total population of our country right now, I can say that the government did it well although there are some corrupted politicians who didn't give the aid to some poor families which is quite unfortunate and disgusting in my part. In terms of economy and business support, they already gave an aid to some of it already but still some business are forced to close. With regards of giving some assistance to the vulnerable citizens, I can say that most of them received it but not all of them can receive it since the funds of the government are very limited.

Some of the lockdown measures are being lifted already and some of the businesses are re-opening here. Sadly there are still some transportation vehicles who can't be use right now for some reasons like jeepneys.

North Korea for sure .

I don't agree with you, personally I think that virus isn't that deadly and I guess it will be better to look deeply into statistics (age, their health conditions and etc). I am a healthy person, workout, have a normal diet. Personally I can't breath in face masks and to be fair it's hard or almost impossible to get fresh, new mask for every new needs of usage. I this those face masks must be optional, personally for me, pros outweigh cons and prefer to move without mask and already stated the reason.

On another hand, to be fair I can't see that anyone has problem of money in my country, no, it looks like people say they are poor but in reality have good supply of money cause everywhere I go, especially in supermarkets, there are queues and queues + people buy tons of products in hypermarkets like in past, so... There are a lot of traffics and there were even traffics when public transport and metro wasn't working, my conclusion is that people aren't as poor as they call themselves.

And countries, well, governments aren't gonna spend money on your well-being and on your business, especially in small countries where corruption is high. They get help and funds and these funds goes into their pockets.

That can be partially explained by China's authoritarian culture and government compared to America, and also the American penchant for rebellion against authority. There is also the fact that Asian countries like China, Taiwan, and Singapore dealt with the SARS outbreak. The last time I traveled to China was in 2003. Everyone was wearing masks in the streets, driving and riding mopeds with masks, etc at that time. In fact, that practice never really ended. When this pandemic hit, those countries didn't have the same kind of cultural resistance seen in the west and particularly in the US.

As for the length of lockdowns and willingness to implement them, it's not just about powerful companies. There is a consensus that keeping the economy shut down will more or less bring a depression, which could in turn kill more people than an epidemic. That's the crux of the debate.

Well, actually it's not easy to say this. In my own country it might be more difficult to overcome the post-pandemic economy. Not only because of the very large population and also the broad reach of the territory in our country. Here, the economic capacity of the population is very diverse. there are still many people who are capable of a lower middle-class economy. And they are most victims of a pandemic. During this time our government has worked hard to help the lives of its inhabitants who are not capable and become unemployed during the pandemic. but this is only enough for food, not for other premier needs, especially tertiary.

I know this will be hard to overcome by our country because the conditions are so complicated. However, what is certain is that as citizens, we must also help each other to overcome and improve the economy. It's easy to do that by helping as much as possible, buying products made in the country, and promoting MSMEs.

It seems like I tell too much about the conditions in my country. From some of the news that I heard, the country that is the easiest to restore post-pandemic economic conditions might be China and Singapore. They are country that has also been affected by COVID-19 with many casualties. But they can build faster, both economically and healthily.

I think the countries that will survive the economic hardship more is those who don't depend on importation but exports product. If you exporting, you get more foreign exchange and that can also add to foreign reserve of the country. If a country is exporting, more jobs will be opened for citizens and people living there too. China and united states are few countries that are better in situation .

They have their way, but the worst part is they use situation like this for their own political advantage. They show they are taking steps to improve everything and that everything is "fine", but are they actually?
Like you are saying your country's economy isn't as bad as other countries, but are you sure about that? Or did you hear about this in some media (which is also controlled by the government).

I can’t speak for other countries, because I don’t know how they are handling their own cases... But China seems to be handling the case better than other country.

At the start they have offered to assist other countries in handling the cases of Covid-19 outbreak, but it is never the same for others. And lots of businesses there were making huge profit when the this Pandemic started, a lot of countries were ordering face masks, tests and a lot of healthcare materials from companies in China and that would have helped to improve their economy. In my country it is not the same, though one thing that makes me happy is that lots of people that got the virus majority of them recovered.

The country hasn't done anything specific in order to control the economic downfall.
They just made a lockdown that impacted negatively the economy.
It is more to choose Public Health over Economic Upturn...

As for me, it will be hard for our economy to recover from this pandemic. We're in a deep debt and it will take years for us to get paid. Lots of citizens have been suffering here not because of the pandemic but the corruption of the government. Instead of focusing on ways of how to fight the pandemic, they're focusing on different issues not knowing that the economic situation is getting worse. Lots of people are getting inffected here even huge companies' employees which made them stop their operations. I just hope that our economy could still survive not just from the virus but from the corrupt government.

Every country has its own way of maintaining or strategy, so that our country's economy remains stable, after the corona pandemic is nested globally at this time.

There are several strategies that our government undertakes to safeguard "Economic Resilience".
The most important thing to do is: steps to maintain purchasing power & encourage high production, local.

My country's economic growth greatly influences 'consumption' by reducing the quarterly impetus, state expenditure, I think the country's economy says not as bad as other countries, still in control.

In my country, the number of covid sufferers touched 88,000. The economy in my country has also declined dramatically and many of my colleagues have been laid off. Issues regarding several banks stumbling on liquidity problems also emerged.

The government took the policy to reopen the economy with a series of standard covid procedures in everyday life. Foreign debt increased and the economic policy adopted was recording the budget. So that the economy more devastated. Technocrats and politicians disagree over the solution to economic recovery.

I am pessimistic that the economy will improve in the next one year because the more days, it looks increasingly sluggish.

The Phillipines showed a lack of action in fighting the pandemic. In fact, even with the growing number of cases with over 70,000 confirmed cases, the government is busy with other political issues than focusing on this virus. There's a lot of ongoing issues in my country that you would think that they don't give attention to the pandemic. There's even a rally which is really frightening since it can contribute to more positive cases. That's why I really envy those countries will low confirmed cases and those who manage to flatten the curve like Korea, HongKong, and Thailand, and more.

We are now in the phase of recovering the economy by opening businesses and going back to work yet the threat is much greater compared when we are still in lockdown. Now they are pushing to resume classes in August without assurance that it will be safe for students to go out (online classes is not accessible for everyone). Everything is becoming political, even this pandemic. So I really don't know what will happen in the next few months without the vaccine since our government isn't competent at all.

In my country the economy is not doing so well but it was before the pandemic started, it wasn't something new, in fact we were a lot worse before the pandemic and somehow doing a bit better right now for some reason.

I am not sure why it is like that, I am not really wise when it comes to financial affairs, but when I check the situation here not just from economical numbers that governments and so forth give because that could be wrong, but I also check my own finances and to be honest with you I am doing much better compared to last summer for example which doesn't make sense at all. At the end of the day there were a lot of people affected because they were fired, and I feel like they got the short end of the stick and everyone else just carried on like nothing happened.

My country have done a great war against COVID-19. Lockdown was immediately promulgated when there were about 100 cases. Our people understand the danger of the situation so that they choose to listen to the government and stay home. We spent about a month with the lockdown and everyone was wearing a mask during that time. Even now although the disease has been contained, most of the people still put the mask on their faces. They aware the pandemic has the capability to return and destroy us again. Thus, we have to protect ourselves first in order to defeat it once and for all

I have a strong fate that vaccines will soon be found. There is news reporting that some scientists have invented the cure which can fight back the virus. We really need those cures so as to bring the international economy back to normal. Our world can not develop appropriately if there are still countries infected with the virus. Especially the US, the strongest country in the world

The economy is going through a lot of bad situations because of the COVID epidemic. During this time, the government can help businesses to deal with it successfully and save the economy. If the government opens everything up again, it will be much easier to deal with the economy. But China and the United States are fighting the economic crisis best. They are far ahead of other countries

Even before the Covid19 thing, my country needed rescue  Now,  It just worse. It all looks like all is going well but when you take a deep look, you would notice that things ain't what they seem. Heavy dependence on oil has caused us a lot. But then, my country's economy might not be as resilient as it should be but the people are very much resilient. It's all our own doing.

I think the government has done everything possible to save the economy, especially in businesses that are now heavily supported so that these industries will grow even more and revive an economy that has been in decline for several months, the Covid-19 case has declined but the budget will continue to drain because there is still much that is needed to deal with this so the government will continue to be in the form of small traders or raise up employees so that they can work again that is the best thing if it is done on time.

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.

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 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


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.

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.

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.

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.


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.

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.

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.

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.

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.

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 facts


I think China will become a country whose economy is experiencing growth during this pandemic

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.
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. 

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.

  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 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.

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.

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?