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FOCUS: Global Opportunities After COVID-19 Crisis
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Global Opportunities After COVID-19 Crisis
By Anne Liu

bt 202004 focus 07Covid-19 has rocked the world, alarming people across the globe. Each government is maximizing efforts to slow down and totally eliminate the spread of this killer disease. The first quarter of this year can be seen as truly discouraging and gloomy, and since January, in many different countries, the crisis has sparked dejection in the affected areas. The economy has also started to disintegrate.

But China is looking forward to a new beginning. With the number of cases getting lower and the number of recoveries rising, there is hope.


When the crisis is over,
what global opportunities await?

Solid ties and partnerships between private business sectors and the government

The business sector will have a new view on capitalism and will think more about partnering with the government. Covid-19 allowed people to understand more profoundly that the government is not only here to fix all the market failures when a crisis occurs, and that partnering with the government in working to create sustainable jobs in the market will protect them when a crisis comes.

bt 202004 focus 08Rise of more influential and crisis-ready financial institutions

The government will now be open to investing in and creating institutions that will shield the whole country during a crisis. The adversity that we are facing now is proof that being unprepared will cause the country’s financial stability to collapse. Thus, this will be an opportunity to see how our country was able to survive, improve the system, and build institutions that will be responsible when another crisis occurs.



bt 202004 focus 06Healthcare systems will be enhanced, prioritized, and developed

Covid-19 has exposed the fact that every country is lacking in life-saving machines, equipment, and facilities. It is an eye-opener to all the people of the world that it is high time that all nations innovate hospital systems to mitigate the spread of life-threatening diseases.

The health sector will now focus more on research and development, as well as on strengthening and improving public health. This will create opportunities for health companies to establish and build their networks while putting the health of every person at the centre of their company’s mission and vision.

There will be vaccines, therapies, medicines and health plans that will cover every health issue of every individual.



bt 202004 focus 05Preventive measures to improve job security and tenure

According to the initial report of the International Labour Organization, about 25 million jobs worldwide will be lost due to the Covid-19 outbreak. Millions of people will be affected by unemployment, and it will take time to recover. With unemployment and underemployment, poverty will be widespread. Yet, this is a great opportunity globally to study and find ways to secure jobs even in the midst of a crisis. This will aid in extending social protection for all workers if the present measures are re-calibrated and enhanced.

The consequences of Covid-19 are not limited only to the global health crisis but also extend to the economy and labour market. It has had a domino effect, and re-building the economic foundation is urgent. This foundation, when re-built, will be directed and more focused on measures that will be appropriate when a crisis occurs.



bt 202004 focus 01Tech giants like Google, Amazon, Tencent, Alibaba, etc. will create new platforms and websites to help the whole world recover

One opportunity presented in this pandemic is for unity and support among all countries. This is a significant time to spread help and donations to where they are needed the most. The tech giants were quick to provide aid, and millions of pledges and donations are pouring in. Among the donors was Alibaba’s co-founder Jack Ma who donated 500,000 coronavirus kits and millions of protective masks to different countries. Facebook set in motion a fund to fight the coronavirus pandemic across the globe.

There will be more online educational platforms, which will be beneficial for international students, while more business platforms for eCommerce will help entrepreneurs recover their businesses. When the crisis is over, these platforms and websites will provide information and serve as legal resources for reports and statistics that will be equitable for worldwide use.



bt 202004 focus 04Although it is predicted that the world economy is heading towards recession, this should not be regarded as a solid conclusion. Though it is undeniable that financial markets have been threatened and damaged, other vital opportunities will be presented in this time of crisis. Soon there will be more flexibility and opportunity for technology, appreciation for a simpler life, and less racism around the world.

While other countries have just started the battle or are still in the middle of the struggle, optimism is creating some light at the end of the tunnel. Hold tight. We don’t know what’s will come next, but one thing is for sure––when the crisis is over, there will be a mind shift that will change the world!


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