Economies after Covid-19

The disruption caused by Covid-19 could potentially deglobalise the world at a faster pace than before


Dhiraj Nayyar
The gigantic economic consequences of Covid-19 will last longer than the massive impact on public health. The global financial crisis of 2008 was very disruptive because it struck at the heart of the economic engine, the financial sector. Covid-19 is leading to a shutdown of the entire body economic as strict lo­ckdowns are imposed in most major economies as the only means of tackling the health emergency. Rebooting economies, which are basically reduced to functioning on life support of essential goods and services, will be a greater cha­llenge than restarting the heart à la 2008. There are still too many un­kno­wns in the current crisis and understa­ndably the focus of leaders is on health first and economics second. The US
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of or the Business Standard newspaper

First Published: Apr 01 2020 | 11:44 PM IST

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