The world after the end of Covid19 Crisis

As humanity was coping up with the loss done to earth and humans due to the bushfires, droughts, tornadoes, food crisis etc in the previous year, another crisis in the form of COVID-19 that is coronavirus struck leading human beings in shambles and leading towards a near dead end. The liveliest of places in the world have all of a sudden turned into ghost towns. For a long time humans have been misusing and extracting the resources, provided to us by mother nature, in excess capacity and philosophers believe it is payback time for humans as they have unleashed nature.

Coronavirus is basically a large family of viruses that causes illnesses like common cold and fever to severe middle east respiratory problems leading to lungs and kidney diseases in adverse cases. The newly discovered COVID-19, commonly known as coronavirus is a new strain that was found in bats and from there it evolved to human beings. This disease was first confirmed in China in December 2019, though it is believed that this infection was detected in Wuhan in early November that year but because of lack of information by the Chinese government, this disease grasped the whole world in its claws. The people are horrified by this pandemic and the world is currently observing a situation of complete lockdown with the world economy facing the problem of severe recession. The process of growth and development has been hampered and the global growth rate is expected to decline from 2.9% to 2% in the coming year. Since this infection can only occur through direct contact, people have quarantined themselves inside their houses and are trying to stay away from the outside world. All factories, stores, shops etc have been shut down and only stores of essential needs like medicines and food items are opened, that too for some time and social distancing is followed there.

Due to the current situation central banks of many countries have slashed their interest rates to make borrowings cheaper and boost the economy by spending more money on prevention of this disease. Additionally the travel industry has received a setback as the government has imposed travel restrictions, be it from one city to another. Moreover traveling abroad has been restricted for quite some time. Not only airlines but railways and ships are also shut for quite some time by the government all over the world. Moreover supermarkets and online delivery services have received a boost as the people are stockpiling food, medicine and other necessary substances because they have no idea what the future has instored for us. Further the startups, medium and small scale industries will not be able to survive this adverse situation and hence have been experiencing shutdown worldwide. The stock market has also observed a downfall. Dow Jones and FTSE have observed their biggest one day decline as 24.1% and 28.8% respectively, as on April 1st 2020, since 1987. The SENSEX has also come down by over 20% since this crisis struck and investors have lost nearly Rs 33.08 lakh crore since February 12 this year. All the public events and social gatherings, like marriages, have been canceled by the government all over the world.

At this point the aim of the government is to curtail the spread of this virus and make sure nobody dies due to hunger or lack of medical help and save as many lives as possible. The government globally has made relief funds to help the poor people, to provide better medical facilities and stabilize the deteriorated financial condition and has further motivated the public to donate and help the nation by the creation of relief funds. The government is also providing food and shelter to the laborers and needy people.
The million-dollar question in the minds of all humans right now is that will there be any end of COVID-19 in the near future and what will be the consequences faced by the world after that though according to experts this pandemic may continue till the end of this year or so. A epidemiology professor at the University of Edinburgh said “We do have a big problem in what the exit strategy is and how we get out of this. There is no country that has an exit strategy yet.” There are three portals of curtailment which are:
Formulation of a vaccine that could rule out the disease but it can take nearly 12-18 months to develop one.
People develop hard immunity against the disease which is quite impossible in the current situation.
Changing dynamic (social and economical) of the world i.e through social distancing and a high level of hygiene.

According to studies, the end of coronavirus disease will bring not only changes in the economic dynamics, like consumption, income, etc but also social aspects like healthcare facilities, education system, personal freedom etc. It is believed that after the end of this epidemic worldwide healthcare facilities and medicines will become cheaper and more affordable. This is believed because of the high priced healthcare services in the USA though in some countries like India patients rented positive with COVID-19 are being treated at a very low cost or no price at all. Even after the restrictions on complete lockdown are relaxed and necessary activities are carried out, there will still prevail social distancing, self-isolation and taking care of hygiene as this virus will stay on the planet for long. Importance will be given to provide necessary medication, food and shelter to people after this pandemic. The government will look into providing basic necessity goods at subsidized rates to the weaker section of the society and will give emphasis to adequate storage of food grains and other essential consumable so that no individual suffers due to starvation. Moreover the government should make efforts so that the homeless migrants get proper shelter keeping in mind social distancing so as to prevent any such outbreak in the future.

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Coronavirus is having an adverse impact on the MSMEs world over. Firstly, after the lockdown is relaxed, there will be partial running of enterprises and they have to follow the guidelines laid down by government like sanitation of their premises, providing safety gadgets like masks, gloves, etc to their employees, keeping in house labour and following social distancing within factories, procurement of raw material, finance management, the supply of finished goods etc. Moreover payment of bank loans and salary of employees, purchasing raw material for carrying out production, the export of goods with safety measures etc would be quite difficult due to lack of sales. Moreover the migrated labour that has returned to their hometowns and villages will get out only once they think the situation is reliable due to problems they faced recently. As in observation, the financial market all over the world crashed in March, and huge losses were faced by investors, once the lockdown period is over, steps have to be taken by companies to bring their share up once again with the support of government and earn the trust of investors again, thought this process will take some time.

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The end of COVID-19 might be followed by the end of globalization. Deglobalization will lead to no trade practices among nations i.e. each country will produce and use its own products. If this deglobalization is not the result then definitely one thing is sure that all the economies globally will ban Chinese products, ending China as a global manufacturing hub. Moreover as we observed WW2 laid the foundation for the formation of bodies to maintain peace globally, the end of COVID-19 would lead to formation of some transformations that cannot be altered. Travel industry contributes a lot to the economy but as the effect is maximum on this industry with airlines globally cutting flights and business trips and holidays being canceled by tourist, the end of coronavirus will observe a major fall in this industry therefore it is recommended that instead of going out citizens spend holidays in their own country so as to boost the travel industry again. Moreover we will observe changes in the preferences of people as they will spend less on luxury goods and try to save more for the future as they have no idea what the future has in store for them. In this scenario the goodwill of WHO is also at stake due to its casual attitude towards the COVID-19 outbreak and therefore has a bleak future. This epidemic has also tested the ability of people to adopt technology and the end of coronavirus can lead to the world becoming a computerized hub where all work is done online and there are no offline connections.

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The end of COVID-19 will transform the world altogether. People from materialism will move towards spiritualism and will be more God-fearing. Due to a slowdown in economic activities unemployment will increase and there would be reduction in perks and salaries. People will be more inclined towards buying essential commodities rather than luxuries goods. There will be changes observed in government policies to safeguard their local industries. Since the travel industry will be hit hard and domestic movement will be curtailed for some time, the fuel consumption will be low due to which crude oil prices will remain at rock bottom which will hardly hit the economy of oil-producing countries. The government may increase taxes on luxury items like cars, air conditioners, etc to overcome the shortfall in collection of taxes and meet the increased expenditures on health services. Business-class will be affected to a great extent, even after this pandemic ends, as they have to pay salaries, rent, income tax, bank loans make payments abroad etc. Moreover the ongoing recession will leave many working-class people jobless and if still employed, they would be paid minimal wages which would be insufficient to fulfill the needs of their families. Due to this epidemic all the schools and colleges have been shut down and online mode is being used which has affected the education standards. Sometimes there are connectivity issues due to which students are not able to study properly and in one way or another grades of students will have an adverse effect. Moreover due to the ongoing recession graduating class of 2020 would not be provided jobs due to which unemployment will increase in nearly all countries. In our society women are considered to be the weaker gender and most of the women would be jobless. Considering the elderly people, once this crisis is over they will take more care of their health, go for regular treatments, etc..

Once this epidemic subsides and prevailing restrictions are gradually lifted, the world will not be the same as it was prior to this pandemic. The man was too engrossed in worldly things and was happy to have abundance of money, property and was running after a luxurious lifestyle, and thought these were the real virtues in life but god in a blink made us realise that it is the almighty who governs the entire universe and mankind is unable to cope even with a small virus. Man now will be connected more towards true relationships and family. The preference of government will be towards providing better medical facilities and upliftment of underprivileged rather than garnering armaments and weapons of mass destruction. Let’s all pray for the benevolence of this world.