The virus has not only been a public health emergency, but it has also had an economic impact on the world. Reduced productivity, loss of life, business closures, trade disruption, and the annihilation of the tourism industry have

all had significant economic consequences around the world.

The economic impact of the pandemic has been heterogeneous across the countries’ income distribution, in addition to marked health disparities, particularly in countries without universal healthcare coverage. It has been apparent as the health and human toll surged, and it proved to be the world’s greatest economic shock in decades.

The pandemic has caused and will continue to cause substantial damage to humanity. Unprecedented progress in global health over the last 20 years has halted, and economic growth has already plummeted, resulting in a global recession the likes of which we haven’t seen since World War II.

Deep recessions caused by the pandemic are projected to leave long-term scars leading to decreased investment, human capital

erosion related to lost jobs and education, and disruption of global trade and supply chains.

The pace at which the crisis has engulfed the global economy may provide insight into the depth of the recession. The rapid pace of global growth forecast downgrades suggests that more downward revisions are possible, as well as the need for additional policy intervention by policymakers in the coming months to support economic activity.  

Despite the previous certainty that the threats of the present and future — the climate, rising inequality, and extremism — necessitated massive international coordination, all remained the same, with populist and incompetent leadership exacerbating nationalist feelings about the planetary common good.

Most governments around the world underestimated the risks of rapid COVID-19 spread and have been particularly disruptive in their crisis response. Since disease outbreaks are unlikely to go away real soon, multilateral action is needed to save lives while also safeguarding economic prosperity.

COVID-19 may be a “wake-up” call for world leaders to come together in facing the global challenges.

Health Crisis, New World Order and Global Shifts; What is the need of the hour?

New World Order or not; some things needs to be changed.

The world after COVID-19 is unlikely to be the same as it was before. The effect of the pandemic is exacerbating many trends already underway in the global economy.  Choices made during crises, as history has proven, will affect the world for decades. The need for collective action to create economies that produce sustainable economic development, stability, and protection for everyone will remain crucial.

The acknowledgement that the old order will not be restored and that any attempts to do so will be futile. If we accept this, then this tragic virus may force us to address the planet’s lack of a sense of community. Depending on the decisions taken in the coming days and months, it may be the midwife of better global and local systems that emerge stronger to face the challenges.

Decisions taken now would have far-reaching consequences.  In order to offer equal consideration to the needs and rights of the two-thirds of the world’s population who live in the Global South, power imbalances in global institutions must be reversed.

The crisis emphasizes the need for immediate action to mitigate the pandemic’s health and economic effects, protect vulnerable communities, and pave the way for a long-term recovery. Strengthening public health systems, addressing the challenges raised by informality, and drafting legislation are essential for emerging market and developing countries, many of which face challenging vulnerabilities.

The greatest chance of achieving public health strategies and facilitating a robust global recovery is through global collaboration and cooperation—both of the steps required to diminish the pandemic’s effect and economic efforts are needed to alleviate the economic harm, including international funding.

SHARAN BURROW, general secretary of the International Trade Union Confederation, reflects:

What will the world look like after COVID-19? Many of the issues we will face in the next ten years will simply be more severe versions of those we already face. Only if we plan to take steps to address these issues and bring about systemic change, can the world look radically different this time.

The most critical takeaway from the COVID-19 pandemic is the importance of collaborating on issues that concern the entire mankind.

We are much stronger united than divided.

A shared future is not only preferable to a lonely one when making future decisions; it also implies that there is no future if it is not shared.





Read how six prominent thinkers reflect on how the pandemic has changed the world: https://www.imf.org/external/pubs/ft/fandd/2020/06/how-will-the-world-be-different-after-COVID-19.htm

Read the author’s take on the loss of human essentials due to COVID-19: https://theuncoiled.com/2020/12/19/covid-19-and-the-lost-human-essential/

COVID-19: Is it more of a reminder?

This generation might have lived through a pandemic for the first time but it is not new that humans have always failed to learn from history. Regardless of the consequences, in the pursuit of the never-never land, human beings have unceasingly suppressed who they are at the core. To connect with the unknown, they lost touch with the known. The desire to explore beyond the galaxies overcame the need to explore their own beings. Human consciousness might have a hard time digesting the rapidly changing world yet the waves of new technology drifted humans away from essentiality.

Loved ones were a touch away, but not quite literally. The Internet had humankind updated with a minute to minute report of what is taking place around the globe. Social Media was the most convenient means of staying in touch with family and friends. Yet, this was not enough. A piece of the puzzle was missing which made individuals whole. The exhausting work life, the workload at the weekends, the endless labour, and the daily grind had transmuted humans boundlessly into a profit-making machine. All of it was normal and it took only a pandemic to awaken the human mind and re-connect them with their nature.

It was not until news began to pour in how people around the world could not visit their loved ones, how holding hands on their death bed was forbidden, and how a mere comforting hug could lead to death. Twitter was spammed with the disregard for this new normal, people shared photos of kids sitting apart during lunch break in schools and discussions followed of its psychological impact on the human mind; that people start to comprehend that the new normal has always been the norm and that it is not okay.

When was the last time, any of us, took out time to connect heart-to-heart with the person sitting in front of us?

When was the last time, any of us, held hands with a loved one and did not think it was cliché?

When was the last time, any of us, rushed up to hug a loved one in a crowd while leaving our phones in the pocket?

When was the last time, any of us, offered our shoulder and allowed someone to bawl out their emotions?

When was the last time, any of us, looked up from the screens and actually made an eye to eye contact during a conversation?

When was the last time, any of us, listened to someone while they poured their heart out and we did not invalidate their experience?

When was the last time, any of us, did not give our hearts a shut-up call when it tried to remind us of our emotional needs?

When was the last time, any of us, was kind, compassionate, and affectionate and owned it wholeheartedly?

When was the last time, any of us, allowed ourselves and others a little bit of warmth in this tech-driven world that has no cognizance for human emotion?

COVID-19 compelled humans to acknowledge the significance of human touch and communication. The horrors of this pandemic might have landed everyone into a continuous whirl of an ordeal but it did make them aware of what spells a human touch can cast on minds and that the love a human heart holds for its own kind is far greater than the misery inflicted upon them by such calamities. Natural disasters are a reminder to re-connect with nature. The end might be near but it is just the beginning of it. It is never too late. Holding onto love and surrendering to nature is the only hope the human soul has for now.

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