Shape of things to come after Covid-19

Coronavirus pandemic is likely to be a transformative event that will drive world towards major changes in political and economic systems and shift global balance of power

Published Mon, Apr 20, 2020 · 09:50 PM

Pandemic

IT HAS been compared to the Spanish Flu that caused the death of tens of millions at the start of the 20th century; at the same time it's already apparent that its economic consequences could be the worst the world has suffered since the Great Depression.

Historians recall the way the bubonic plague, also called the Black Plague, which may have reduced the world population from an estimated 475 million to 350-375 million in the 14th century, also helped to demolish the feudal system and create the foundations for the modern age.

It may be too early to try to figure out the long-term consequences of the outbreak of Covid-19, but even if we dismiss the apocalyptic scenarios drawn by some it's-the-end-of-the-world observers, it would not be an exaggeration to stipulate that the deadly pandemic has paralysed the global economy, if not demobilised the entire human race. It has shut down factories, grounded airplanes, and left entire populations quarantined in their homes…