No return to normalcy in the new world, after the Pandemic
Written By Arkodeep Dutta,
In 1990, it was believed that within the next three decades there will emerge a world quite similar to that of the Jetsons. But the truth is staggering, with all our self proclaimed advanced technology, we are still struggling to survive; struggling to create an ailment for a virus whose composition is not at all new to the virologists , nor is it pathologically difficult to trace. But due to human error, selfish diplomacy, and lack of empathy, as of today it has claimed the lives of around 2,39,777 people. The corruption in WHO, the UN and other international organizations is conspicuous to the general mass by now. The failure to maintain co-operative peace and strategic alliance during this pandemic is also evident by the United State’s sanctions on third world countries like Cuba and Iran. The despotic behavior of the governments, is the evidence behind the failure to control and prevent the spread of viruses. Washington’s impractical decision to lift the lockdown has cost dearly.
One cannot flout the politics, diplomacy, and corruption behind this incident. Based on it we are trying to point out three paramount changes that will create a significant difference in the life of citizens , around the globe. After the distribution of the vaccine .
The economic depression– In an article of IMF blog named “The Great Lockdown Worst Economic downturn since depression” by Gita Gopinath (the current chief economist of International Monetary Fund ) .She elucidates on the paramount impact of lockdown, and the economic depression that will be greater than that of the 1920s.Which will be perhaps, followed by severe inflation/deflation in foreign currency exchange. An abysmal failure of core economic functionality can be seen since large scale industrial production units will be shifted from China to other third world countries, a surge in prices of electronics and other cheap products will be evident. In an assessment by Kaushik Basu ( Chief Economist of World Bank from 2012 to 2016) a severe depression will lead to deflation in certain third world economies and will leave the oil industry in a disarray. The World Market, is predicted to have a rift between the Asian-European loyalist and Sino- Socialist loyalist, which is definitely good news for the consumer. Even with severe economic depression, the competition will present goods at cheap prices. Also, there is a chance that the third world countries will mass-produce APIs,( Active Pharmaceutical Ingredients) who were previously dependent on china for it, which will lead to a fall in prices of common medicine. It is also expected that the price, tax, and maintenance of entertainment-related goods and industry will rise due to the loss , of running capital ,they have incurred during the lockdown.
Anti-Sino Asian sentiment- The whole world is playing the blame game , and has decided the scapegoat for its ineffective healthcare and governmental functionaries. China’s censorship and lack of governmental efficacy has favored the virus to spread across the globe, creating a new uncontainable Pandemic. But, the politics never stops , does it? Violence and discrimination against Sino-Asians have been recently reported. It’s conspicuous that there will be a rise in Anti-China sentiment which will lead the entrepreneurs to boycott hiring Chinese citizens and citizens with Sino- Asian origins. This might lead to new convoluted diplomacy. The US-China trade war is expected to become much more pivotal in the coming years. It’s evident that this ‘Anti-China’ sentiment will lead to a rise in Sino- Asian discrimination in European and Scandinavian countries. Today China, is not only playing a foreign hand in US politics as Russia did in the previous election year. But with Trump calling Joe Biden “China-Joe”, the antipathy of Washington towards Beijing is quite evident making it difficult for Sino-Asian origin citizens to live in the U.S, the discrimination and violence is expected to rise after the present situation is dealt with.
Globalization may be in danger- A number of politicians and economists have blamed the too much dependency of European countries on China, as the reason behind economic clog . This is an early red flag for those who are vesting their hopes on the new prospects of globalization.Due to “The Great Lockdown” ,countries have started to produce necessary items without any sanctions and unnecessary diplomatic pressure. With the crash of the Tourism , Entertainment and Oil Industry more countries are looking inwards for prospects than outwards. With a stalemate in international trade,the global market is uncertain. It’s too early to say if globalization is in danger or not, but it’s certain that there has been an irreparable mountainous dent on it. The free-flowing global market will be circumscribed by their respective states to avoid such a fatal blow in the future. It’s also certain that more PSU ( Public Sector Undertaking) and MSMEs ( Small and Medium Enterprise ) will be much more supported by the state than they are now.
The changes after the end of “The Great Lockdown ” are not uncertain at all rather it’s quite conspicuous, as history serves us with examples of how things turn for the worse as time passes by. But all we can do to help is from this, is to adapt and survive. The quote “What doesn’t kill you ,makes you stronger” by Fredrick Nietzsche, in such times is absolutely what people need to keep in mind.