The Webinar on date 20th JUNE, (12PM-1PM) on topic “POST COVID-19: ECONOMIC CHALLENGES & STRATEGIES” was organized by Maharishi School of Commerce & Management. The Host & Co-Host for the webinar were Ms. RASHMI RAKESH (Host) and Mr. ANKIT SRIVASTAVA (Co-Host) while the speaker was an eminent personality (PROF.) Dr. MANISH HINDVI (VIDNATH HINDU P.G COLLEGE).
As mentioned above, our speaker discussed a topic in which he said that Under these circumstances, the economies of the world have to respond both to the immediate need for damage control and providing support for the population and the economy, and to the need for adaptation to different domestic and international environments that will emerge in the post-crisis period. Even if there are still many unknowns related to the future evolution of Covid-19 crisis, the time needed until a vaccine is discovered and mass-produced, the ways in which each state will manage its social and economic problems and the ways in which states will interact with each other (particularly the big economies such as US and China), a number of specific challenges can be identified and they can be useful in designing the macroeconomic solutions for the world economy of the post Covid-19 era.
The crisis affects practically everybody, dramatically reducing offer and demand at the same time. From the perspective of April 2020, the IMF estimates that 90% of economies will have negative growth in 2020, compared to only 62% in 2009. If we compare world economy with a train and the economic growth rate with the speed of the train, then the pandemic crisis did not slow down the speed of the train but rather put the whole train on a side line because of lockdowns and border closures in numerous states.