COVID-19 AND THE ECONOMY OVERVIEW:
- Emerging economic crisis during the pandemic.
- Redefinition of fiscal and monetary policies.
- Economic opportunities for Corporations, NGOs, SMEs and Entrepreneurs.
- Changes in consumer behaviors towards manufacturers, sellers and service. providers.
- Social economy factors – income, employment etc.
Dan Griswold describes the economic impact of COVID-19 in the United States as of July 2020. He compares the drop in US exports to that of the great recession in 2008-2009 due to a dramatic drop in demand abroad. Similarly, he notes that the drop in imports also parallels the 2008 recession. Griswold mentions that the government responded aggressively with large loans, grants, and stimulus checks which he describes as unprecedented government borrowing and spending.
Griswold’s presentation on the Economic Impact of COVID-19 in the US is below:
Anis Shiekh begins his presentation comparing Pakistan’s economy before and after COVID-19. He states that COVID-19 has had the worst economic impact in 60 years but mentions that since the death rate in Pakistan remained low, things are more swiftly getting back to normal. Shiekh describes how when lockdown was lifted, auto sales increased 90 percent in one month alone and markets are also recovering. He mentions that Pakistan’s economy is resilient enough to fight it’s way back to normal once restrictions are lifted.
Sheikh’s presentation on the Economic Impact of COVID-19 in Pakistan is below: