This new reality is what many are trying to adapt
In the middle of 2019 and from its end, the whole world was expecting a lot of economical changes for the better. We were all hoping that the economy would boom though political changes that were designed for that purpose. Despite our desired changes and expectations, a microbiological organism has literally stopped the economy in many countries.
Only in China, after the coronavirus outbreak, the economy might not grow at all
The statistics are already showing that the economy in China might not grow at all in one year, despite things seeming to be showing signs of recovery. Our life in the Occident is still in a quarantine mode and we don’t know for how long. This shows how much of international dependency we have developed so far in the Economy; related also to a world way of making commercial relationships with each other. The physical separation and closure of borders showed us that we need to develop backup plans to make provisions for ourselves and, of course, to develop new ways of economical relations that might be able to stand after the period of social isolation because of the coronavirus.
Greatest restrictions are also creating an Economic Crisis in Latin America
This turbulence in the whole global economy is affecting LATAM Countries with a decline that goes to 3.8 percent right now. Trade investments are collapsing with the fight against covid-19. The great challenge we face today is if we can make the economy recover at a fast pace. But not only that, how will we gonna do it as we are in the middle of a fight against a virus that has already taken the lives of so many.
Hopes on the horizon to the economy and also our perspectives of Health
The good news of all of this global terrible period of quarantine is that we are finding creative ways to interact with each other such as through video conferences. Many people are also continuing their daily working activities from home and staying with their families, there are also some news that a vaccine might be in development right now. So, yes the recovery is a possibility that might be really close to us and, of course, that would make a recovery of the economy in 2020 more probable and realistic. But now the reality is that we will all have to work together in order to recover the time that was lost and also developing new ways to interact at work continuing to be productive even in quarantine or not.
Conclusion
In this article we talked about how the expectations for the Economy in 2020 diminished because of the coronavirus pandemic. This is also a reversible situation that might require from us some adaptation and also changes in our way of life. Did you like the information we shared in this article? Don’t forget to follow us on LinkedIn and also share our articles to all your friends with information about Brazil.
