April 2020: Corona Virus epitomises the effort of Protectionism and locking Borders?

Yes, the Virus symbolises what many of the Global Leaders and Countries wanted. Locking down of Borders, No People Movement, Reduction in Importation & International Trade…. Thanks to Covid 19.

Well, when the Corona Virus was spreading in China, Japan, and South Korea, everyone was watching keenly to see what happens and a disaster unfolding; however, no one thought, it could reach us and it’s only a regional problem. But now as we are in the middle of the crisis, have we comprehended the dangers and the farfetched economic implications?

Economists are serving up a menu in trying to forecast the world economy’s recovery from what is set to be the deepest recession since at least 2009 and perhaps since World War II. The global cost of the pandemic could be as high as $4.1 trillion, the Asian Development Bank said. We all know the explicit dangers of Covid 19; however, the important thing is that the World Machinery has stopped, the supply chains have been hit, and this is a one in hundred-year event. So now to restart this vast Global Economy; Leaders and People must think differently to find a novel solution to this novel problem.

So, what could be the Solution?

Further INTERDEPNDENCY in the Globalised World is the Key to fight Covid 19, and other Global problems. We cannot Isolate some countries and issues and think these problems will not reach us, a consolidated and a united effort is required whether it is a Locust Problem in Africa or a Life Threating Disease such as the Corona Virus.

So, going forward, what could we do?

1. Choose right and prudent Leaders?
2. Have Open Systems and Processes in place – Report everything and sharing of Best practices. Not Only when a Disaster is upon us?
3. Choose Wellness, Eat Healthy and Change our Lifestyle as H1N1, Swine Flu, Covid 19 have struck us in the last 15 years and it will continue to do so?
4. Choose Environment and Sustainability over short term gains
5. Further Globalisation and Interdependency is paramount?

Well, only time will tell the immediate effect post the Covid-19 outbreak and its long-term impact. Leaders of the new-world will have to make some really important decisions and let us see how the World reacts post the Covid-19 episode, what choices do we make more Protectionism or opening of Borders?