Rethink and Reshape the Post Covid-19 Global Economy

Watch 9-min video highlights here. 

Watch full webcast replay here. 

Key takeaways:

• After such a big shock, there will be no V-shaped rebound. It is highly optimistic to expect GDP levels to return to pre-pandemic levels by 2022. The path to recovery is uncertain, as the coronavirus continues to spread and poorer nations cannot sustain a lengthy lockdown.

• Developing economies, which do not have adequate resources for stimulus packages, will need significant debt relief. Multilateral institutions must help them meet basic needs.

• Trade patterns and supply chains will change, with the reshoring of the production of essentials such as medicines. But the pandemic could well further globalize the production of non-essential goods.

• The pandemic will accelerate the adoption of digital technologies. Developing economies will need support so that they are not left behind. The deployment of technology could stimulate regional trade and investment integration in developing regions such as Africa.

• Global leadership has been lacking. The pandemic has amply demonstrated that international cooperation is required to address such a global challenge.

• A new form of multilateralism needs to be re-conceptualized to address issues such as the impact of technology, sustainability and income inequality to carry us through the post Covid-19 world.

• A new form of cooperation, be it global supply chains or new rules on trade, needs to be developed for large and small businesses.

• The many questions received from the webcast would form the basis for the Asia Global Institute to frame. These pressing global issues will be addressed by internationally renowned experts in future Global Thinkers series.