Covid-19: what will happen to the global economy?

[@TheEconomist]

00:25 - Will the economic shock caused by imposing lockdowns prove more costly than the pandemic itself? 01:52 - How could an economic recession shift the global balance of power? 02:34 - Will this be a chance for China to become the global financial hub? 04:53 - Which countries are most vulnerable to the effects of covid-19 and why? 06:22 - What will the impact on the jobs market be for those graduating in 2020? 08:43 - Has the pandemic made globalisation look like a liability?

[@Natalieneptune469]

My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in the US.

[@marianparker7502]

As with any big financial decision, it’s important to keep your guard up for economic risks. However, smart planning, time management and seeking advice from a financial adviser can help keep you and your money safe

[@PhilipMurray251]

The stock business is volatile and as a result subject to unprecedented changes. If one is not careful, one could lose hundreds of thousands in matter of days! As a beginner, Nicole Ann Sabin has been handling my investments for a long while now and I've gotten impressive profits as a result.

[@Natalieneptune469]

@@PhilipMurray251 Please how do i reach out to Ann for her ideas?

[@PhilipMurray251]

@@Natalieneptune469 Just look up her name, her info and services she provides are all online.

[@Natalieneptune469]

@@PhilipMurray251 Thanks for sharing, I have found her currently online and what I see is impressive. Her resume and her experience is just awesome. I hope she replies me.

[@nurulainselamat8025]

The times are bad, even The Economist have to meet KZbin 10 minutes quota

[@Bonanzoo]

Hahaha I didn’t even notice lol

[@janosk8392]

Some yt videos are clearly puffed up with filler guff just to meet that quota.

[@Bonanzoo]

Janos K exactly

[@docgima]

Green Future So eloquently put... oh thank you word master.

[@No1sProfit]

😄😅🤣😂 you should really consider stand up or sit down its covid we need the joy and laughter you'll bring

[@cvrajendra]

In India, 2 out of 5 restaurants have shut permanently.... 3 out of 10 factories have closed permanently

[@ali09gaming58]

stil no toilets huh ?

[@MzVixen05]

😐 why must you be this person.

[@alexsmith9921]

You need toilets not restaurants

[@thesorrow4664]

Wow, these comments

[@GB-uc3ni]

The thing is India's population is so huge the demand power may drive the economic recovery faster than other countries

[@michealchiesa640]

If you don't find a means of multiplying money, you will wake up one day to realise that the money you thought you had, has finished. Investment is key.

[@chrisweb4777]

To earn more you are required to have a multiple diversified means of income", which is why Investment is an avenue of making more money once it's profitable.

[@chrisweb4777]

Most failures and loss on Investment usually happens when you invest without proper guide and the analysis of the profit and risk percentage of the

[@mooniamborepiied5053]

@@chrisweb4777 So how do you get your proper guide and the analysis you mentioned? Because I have incurred huge losses while investing by myself

[@michealhudson8162]

@@mooniamborepiied5053 it's safe to have an investment manager who has vast knowledge about Investment, to make you profits from your Investment on your behalf while you monitor the Investment growth.

[@joyfundx9146]

Trading the market hasn't been favorable to me but ever since I was introduced to expect Mrs Michelle, she helped me recover all my losses while trading on my own...

[@carwynj.thomas5057]

Now that’s a nice bookshelf

[@reinterpret_cast]

She hasn't read half of those books though

[@rebeccamcardle8071]

I have not only noticed various bookshelves, but have formed some biases on same. For shame!

[@glennvannijevelt1133]

Really? Looks like my grandma china storage......!

[@Trey4x4]

@@glennvannijevelt1133 ..........!

[@aineangeles2648]

That's the whole point of this video.

[@AC-id5ow]

The problem with modern economies is this idea of constant unregulated growth. Or to put it another way, greed.

[@gordonjohnson2497]

Dumbest statement.. Ill take advantage of my opportunities, you take advantage of yours, and e will all be richer. (oh thats greedy!) No, its the bare minimum you can do.

[@want2seeall]

A mini rant. Get rid of money and religion!!! Easy to say but a vocation of encouraging chang. A life time to change and it still won't be perfect. Continuous improvement called being human.

[@domestique3954]

And exactly that i was told at the beginning of my university career! Made me instantly think i took the wrong choice......🤔

[@want2seeall]

@@domestique3954 I've changed careers 5x and when to college 2x. Our values and point of views change as we get older. But my father said that , I've thought about it over the years.

[@jasonmason6910]

How?!

[@justmikey5055]

this lady probably reads more books in a single month than my entire life

[@richardwilde1348]

Select Zoom background "nerdy bookshelf"

[@stealthis]

Plot twist: it's a green screen

[@lauramessy]

@Linx reading is a crazy thing now?

[@1painter4hire]

Me too

[@wernerstapela4616]

@justmikey: if that concerns you, change it! Nothing (I assume) prevents you from reading.

[@TigansUp]

in my country people are more afraid of starving to death than death due to corona

[@trishaalvarez5859]

Its in Philippines i believe?

[@darwinkusuma6757]

Philippines, Indonesia are the same

[@trishaalvarez5859]

@@darwinkusuma6757 i hope this pandemic will end , i will pray for ur country and also for the world

[@enduringwave87]

Pakistan, India, Bangladesh, Egypt, Phillipines, Thailand and many others have the same problems. They can't sustain prolonged Lockdown as people will starve to death.

[@trishaalvarez5859]

@@enduringwave87 yeah you have a point but if they let go of people numbers of cases will rise faster But if they prolonged quarantine Poor people will starve to death But in my country thw government is providing money and food but others dont have the chance to receive them

[@groooah]

They expect a 2,2% recession here in Germany. It sounds like it is almost nothing, but apparently it is something to panic about. I mean, they lowered our VAT so we buy more. I am not sure if I want to know how the future looks, yet I am curious.

[@kenya8937]

Imagine for us in Latin america?! They are talking about 9% untill 15% of recession!!! Its ridiculous how things are going on... its defenely sad!

[@gabrieltomaz6034]

You live in Germany!! Pls stop

[@ataft85]

That economy in Germany is dependent on many other countries that have not handled the pandemic nearly as well. I would take any economic forecast with a grain of salt.

[@newking8395]

No thats if the american stock market wont crash The government wont tell the truth to avoid panic. But many saying There will be economic reset in 2021 Because US $23trillion debt is bubling every year. Only way is to destroy the old monetary system and create new one. Mostly believe that this is the reason that there is covid.

[@swissarmyknife7670]

@@kenya8937 even in switzerland it is around 6%

[@MichelleStevens-hk2tg]

The rich stay rich by spending like the poor and investing without stopping then the poor stay poor by spending like the rich yet not investing like the rich

[@santiagojonathan7620]

You've got to see a lot of people remain poor out of ignorance

[@richardgetty7669]

People are scared of investing because of the high rate of scam in the business

[@villa8719]

He's success story is everywhere

[@AllenKnee]

It's not about watching videos and wasting your time on strategies, I was ignorant doing so...so I decided to try Mr Roland Ross and ever since then he has made about $14,000 for on every $3,000 I invested just in 2weeks

[@dominicdeclan9096]

I lost about $4,000 to a scammer before I was linked to Mr Roland on a channel here on KZbin last month, believe me he helped me recover the $4,000 and made an extra of $7,000

[@greetingsearthlingsmynamei6393]

A house of cards survival is utterly dependent on the lowest tier. Knock it out and the whole thing falls. Take care of your poor and homeless.

[@brynleytalbot778]

The middle classes believe they're immune but without the lower work they consider beneath them and contemptuous they have nothing to support their high salaries whatever their illusion about their importance and significance. It's a lesson I feel many will be learning as the economic damage depletes high earners and they find their "skills" aren't in demand. Advertising and marketing look to be two sectors heavily dependent on government to support them promoting Covid-19 messages which must end at some time. I doubt retail sales will support high cost advertising for some time. It'll be a struggle to simply sell in marshalled store settings let alone build bigger market share, which given the restrictions in place, isn't appealing to retailers. You can't have big sales events as you can't cope with an avalanche of customers. Or offers as that too could cause "health and safety implications". It really is a house of cards prone to collapse without a dramatic push to normality.

[@DrCatdeJong]

That's true, i see it as more likely the employees in the office wich have higher paying jobs will be layed off sooner than the production workers for example. I as a production worker might earn less than the office workers, but we're having a very high demand for our products so they can't afford to have less workers, we're even scaling up while office workers stay the same.

[@jenibaby1832]

@@DrCatdeJong keep dreaming. Unless you're from a cheap labour country, your job is not safe.

[@DrCatdeJong]

@@jenibaby1832 i never said my job is completely safe. But concidering our parts come from local companies too, the machines we use in the manufacturing process are extremely expensive, and the facilities where the toilets are built into the vehicles are in the EU too, it's highly unlikely they're going to pack up and move to China of India for example.

[@baronvonlimbourgh1716]

@@DrCatdeJong office workers are more easilly adjusted to distant/home working though. Depending on the company and their exposure to the pandemic it is easier for them to retain office staff. Companies with little exposure to retail consumers in general tend to not be hit as hard. At least not innitially, only when there is a longer contraction across the entire economy it will eventually also impact them. But these generally also employ fewer low educated staff. In companies with more exposure towards retail consumers it still are the lower educated/payed jobs that are scrapped first. These usually have less secure contracts, can rarely be utilised for other things then operational work and are simply easilly replaced and recruted when things pick up. Higher educated people or just the ones higher up usually have better contracts with more security, can be temporarily moved around more freely or can be temporarilly used for other things like product improvement, process efficienty evaluation, product development etc. Plus there is usually a certain investment made in them, they have company specific knowledge and replacing them and then training someone new later on can be expensive and is disruptive. That is why these people generally are retained longer then operational staff. Eventually if things go on long enough these people will be cut as well, but they are much more likely to survive smaller downturns. That is why there are so much protections in europe for operational personel. European societies work with 2 value systems, where the USA only operates with a single value system. In the usa a persons value or the value of a job to society is only determined by the value capitalism puts on them. Ones that earn less have less value to society and are not only a disposable job, but because their job is disposable the person doing that job basicly also becomes disposable. No matter how valuable the sevice they provide to society might be, if they don't create a direct financial gain to a capitalist the job and thus that person is concidered worthless. While in europe things are usually measured against 2 value systems. The same capitalistic measure used in the usa. Higher educated people earn more etc. But a person and job also has a social value to society. There are a lot of things concidered useless by companies and capitalists but are concidered valuable by society and citizens. The fact that they might not create financial gain for corperations does not mean that work or person has no value to society. That is where the government comes in. They are supposed to do the things that do not create a profit but we still want done. Government is supposed to do the things capitalism has no interest in doing because there is no money to be made and manage the things that are to important to put in the hends of a few private individuals that do not have the best interest of the population in mind. Government services should cover cost as much as possible where possible while other things simply just cost money but are important enough for citizens to have them done anyway and should be funden trough taxes. Same goes for low payed operational jobs. Even though these are disposable in the capitalist value system, society does simply not accept people being treated in such a way. As a society we decided that these people should be treated better, compensated better and valued better then the value determined by the capitalist system. So we simply legislate our values onto these corperations and force them to treat these people the way we deem acceptable. And if that hurts their bottom line, so be it. They profit from society, so society has the right to set the limits within they are allowed to operate. It is their job to find ways to privide what we want and need in a way that is acceptable to us. If we don't want the polution it is their job to find a better way to provide what we want without poluting. Even though they always predict regulation leads to doom and gloom, if you force them they are always innovative enough to find a way to do things in a better way. And if you force them to respect their labour force more and make them more responsible for the people they hire, they will find ways to use them more efficiently, invest more in increasing their value to the company and force them to be more responsible in the way how they grow with more emphasis on longterm viability over short term profit. Why have someone become a burden on the social security system, raise the chance they engage in criminal activity because of little career oppertunities, always be misserable hurting their health and have them always be broke so they barely add any demand in the economy. We can easilly force corperations to treat these people properly and reward them in such a way that they have no need for social assistance. The business uses that person to profit from society, so we demand that they at least take care of them enough to have them lead a reasonable life. A person with a job that still needs social assistance is basicly a subsedy to that business. Any social support that that person needs is basicly wage that the company does not have to pay and disapears as extra profit in the pockets of the capitalist owners. That is not why we pay taxes. Let the employer pay them enough in the first place. And if they can not afford paying employees a couple of houndred more per month, the business probably has no viability anyway. Tax money should not be used to subsedise failing businesses. In the usa business and profit are holy and society should sacrifice itself for the persuit and creation of more profit and wealth for the already wealthy. In europe corperations and wealthy people have to pay their own way and treat people with a minimum of respect that ensures everyone can lead their life in dignity.

[@62gkm]

“It’s a recession when your neighbor loses his job; it’s a depression when you lose your own.” ― Harry S. Truman

[@transformationmotivation7549]

And what is it called when both lose !

[@noobyt3559]

@@transformationmotivation7549 a crisis

[@jon6309]

This just proved my argument with my classmate in college. We shared what part time jobs we had, she was a life guard and I worked at a bank. She told me her job saves lives but I told her unfortunately for my job a majority of people value money more than lives and she agreed with me. It seems like the government is more concerned about the economy more than the well-being of people.

[@OnyxLee]

One big thing you didn't cover: since some countries took a much harsher method to damage control, like China, South Korea, Taiwan, Japan etc, they can reopen their businesses probably a year before the US and Brazil. So they will gradually gain the upper hand while the biggest economy in the world has to hibernate at least until spring 2021. A new regional economy like APEC will form. Businesses and traveling will be back to normal within these safe countries. That's why I'm thinking about going to Singapore and wait out this pandemic while the US is "flattening the curve".

[@uberglamazon]

And you will just turn up and they will say sure hang and work here until you're ready to leave. They are notoriously difficult to get a long term visa.

[@OnyxLee]

Uber Glamazon haha, that’s so true! Do you have some personal experience on that too? Yeah, I have to move mountains to get in. Wish me luck

[@TangSuijin]

China already opened most of businesses. excluding cinema, pools and such. the rest of the industry is back to normalish with heavy caution. if the virus reappears like in Beijing then everyone near goes to mandatory isolation and check up

[@Emkei2010]

Asian countries are much safer in general and more cooperative & mindful to one another.

[@OnyxLee]

@@Emkei2010 yes and no. Developed Asian countries are mostly in safe hands. Poor countries don't have the capacity to even get the numbers. Take Indonesia for example, lots of doctors and nurses there refuse to go to work in fear of getting infected. I have a feeling the public numbers in that region is just a tip of the iceberg.

[@TinaLeder]

On a side note, we need to stop saying the *"new normal"* Here here?🙋‍♀️

[@xxxYouTunesxxx]

You're hot

[@MP-ng1sc]

Lady Tina Thank you!

[@iemon7722]

It's better than 'old abnormal'

[@dontoondontol1933]

Update on my 📱 was off

[@opbk88]

I think you mean "hear! hear! " ... And yes, I quite agree.

[@HienTruong-hj3qf]

THERE’S NO AMOUNT OF MONEY THAT CAN SAVE US FROM OURSELVES!

[@rommelcorbito808]

Death is the road to salvation

[@yam153]

There is ONLY ONE WAY TO SALVATION; JESUS CHRIST!!!

[@fleischkrieg9818]

ODIN ENDED THE FROSTGIANTS BECAUSE HE LOVES US!!!

[@seafoam6119]

Fleischkrieg amen bruddah. Praise be to Odin

[@rdallas81]

@@yam153 You cant lose what you never had. Once one adorns the Holy spirit, HE is with them eternally and internally forever. One does not "backpedal" after receiving the Holy Ghost. Jesus was the Holy Spirit incarnate. He was indistinguishable from any normal man, unless one viewed HIS internal spirit. People today, and many or most during Jesus time wouldn't recognize HIM if he knocked in their door. Well. This time, he will not knock. He gave us the bible, yet most deny him. He gave us LIFE and living water, yet most believe in religion, not faith. I am HIS witness, and He is coming for vengeance. These days ARE JUST like those days of the times of Sadom and Ghomorah. Look around the world. At no time ever in the history of the world does the world have all indicators of my Fathers return. Mark my words.

[@luv2shopnz195]

We live in fiji, completely covid free for over 2 months. But our economy which is majority dependent on tourism is severely effected

[@Rayji10]

Nobody knows what to expect and probably this is what makes the post-pandemic scenario so scary.

[@azlannair4835]

I agree... watched many economists predict.. it’s all just educational points they give...the truth is nobody knows what’s down the pipe..

[@josephrobles7094]

The few problems with having free will we are unpredictable

[@manthedestroyer]

China will come out on top

[@chizzithemagicfingers.5476]

Admist this pandemic asset management got me where I'm today. Indeed it takes patience to get rewards and with the right institute it's highly remunerative irrespective of the up downs in the economy.

[@staygrayed1099]

I agree with you, indeed patience is always required. The market is malleable so we never stop learning from it

[@massirbuturabi6389]

I would like to be part of this similar service like this Jace, what's your take so far?

[@chizzithemagicfingers.5476]

I'm doing quite well investing with Mark Golamb a licensed broker and an investment advisor. I found it easy to reach him here

[@chizzithemagicfingers.5476]

Mark Golamb's

[@ethisrising7130]

Jace grigore you've a valid point, I would have a problem with you "advertising" your own advisor but I did a little research, I find he is actually licensed with a crd number. Great recommendation.

[@babetravelling]

The economy will depend on how the government handle things...not surprised...

[@dontoondontol1933]

You are hot chocolate you can handle it anymore

[@Maxattemptstobserve]

It's a triple recession it's way worse than a depression for this reason because there's no jump back

[@baronvonlimbourgh1716]

Everything is fine, the stockmarket is roaring lol... /s

[@Maxattemptstobserve]

@@baronvonlimbourgh1716 boris the bullshitter ladies and gentleman

[@baronvonlimbourgh1716]

@@Maxattemptstobserve i was being sarcasic though..

[@Maxattemptstobserve]

@@baronvonlimbourgh1716 I know I checked the /s after the fact sorry friendly fire my bad😅

[@mattbowdenuh]

The only way the yuan will overtake the dollar is when you see people actually flocking to the yuan in a time of crisis. That would mean when there's a recession, investors would trust the independence of the yuan and trust the actions of the CCP. But now, whether during times of high growth or recession, there is major capital flight from China, which says all you need to know. I don't think investors will ever flock to the yuan during a time of crisis, because the CCP will want to maintain control of the yuan, rather than it be a free floating, independent currency.

[@MP-ng1sc]

Trackstar35 Very true!

[@PotatoHead2022]

It is a bit sarcastic to say that right now when FED is unlimitedly buying corporate debts. At the meantime, some highly educated U.S senators are threatening to invalidate U.S bonds that the Chinese are holding on their hands.

[@barryamorris]

China started investing in gold a long time ago to protect it against these worldwide events! When economies crash, the value of gold skyrockets!

[@nihsla]

Bitcoin will be the reserve currency.

[@johnroberts8233]

Currently China doesn't want the US dollar to go belly up because the United States is one of China's major customers and also because it holds a lot of US denominated dollars in its reserves and is using them to finance its infrastructure projects around the world. The US is also the powerhouse of the global economy which, of course, includes the European Union, another major customer of China's. However, this printing of worthless money by the US cannot go on forever and China, along with Russia and India, have been buying up and hoarding gold (and silver) and China could pretty easily, if pushed into a corner, back up its currency, the yuan, with gold thereby reintroducing the gold standard that hasn't been seen since the 1970's and becoming, if not officially then certainly _de facto,_ the world's reserve currency. When such a thing happens it will be game over for the United States of America (unless it too can back its currency with gold).

[@dukeofdenver]

The authoritarian govt of China will prevent it from becoming a financial hub. Trade goes with trust and transparency, which they don't have

[@sushenamatya9878]

They are transparent but majority don't trust them.

[@anaishakumar341]

who cares your trust ? wealthy international capitalists all trust china.

[@chris-hu7tm]

Worst recession? I work more thn ever before, its so much to do Ive basically gone from 40h/week to 75h/week. The work is still there it just shifted from one branch to another, making some jobless while others working 2 full time jobs

[@benwrc369]

To say the work is still there is very anecdotal. Sure tech companies are benefiting as people are encouraged to work and socialise online. However, not everyone is in the tech industry nor can they be. Although if you are working 75h/week sounds like your company should be hiring. Having said all that the sector change to technology-based workforce has been coming for a long time and COVID has simply accelerated this process.

[@mifster83]

Same for me, I work in food logistics and I do 80h/week right now for 2 months, Im not really complaining since I make a lot of money. Could they hire more ppl, sure they can but they dont know how long this will last so they push the current staff at this point and add some temp workers to offer some relief. They've also said that theyre afraid to take in to many new ppl due to covid-19

[@hambone4984]

@@mifster83 I work retail and our company is dealing with the same thing. The head offices don't want to hire new people in case we shut down again or if things tank. However, we went from a staff of 20 down to currently having a staff of 8 and only 4 of us can work or have the availability to work full time hours. I've been working opening to closing shifts since we opened and multiple stores around us have shut down permanently. Having the extra money is nice and having more customers is nice, but I'm exhausted and was surprised when my paycheck stated that I had worked 60 hrs last week because time is one large blurr

[@dorsiewhitepaper4495]

Same here

[@Top12Boardsport]

We need to accept that buying local stuff has a higher cost but the advantages with consuming higher quality stuff is better for the environment and for your own country.

[@washizukanorico]

This local mantra is nice but so minimalists. We better start building/producing sustainable habitat, sustainable transportation system and sustainable energy. Then we will be able to keep exchanging them without it harming us long term. Buying local is not the solution to our problem. Actually you better import a product which life cycle is sustainable than buying locally a product designed to be replaced and not recycle ... What amazes me with all this go local frenzy is that I can t see how much of it is really about environment and how much of it is pure xenophobia ...

[@bbygrlpt2]

If this wouldve been handle by a Competent President right now we arldy would be doin better. Why is it so hard for Trump to understand the economy is connected to public health?! How are ppl gona go out and spend money if theyre scared for their own lives? Sayin the virus doesn’t exist and underplayin its deadliness will only make things worse. He shouldve from the start tell everyone to protect themselves, wear masks, social distance etc Work together to control the spread. I just dont get how we have such an ignorant president it’s embarrassing!!!! 🤦🏻‍♀️

[@PhoenixtheII]

Oh, just a bunch of rich people that'll get even filthier richer from things, while the rest suffers.

[@ayn8465]

Why do u call them filthy? Didn't most rich people work hard for their assets?

[@mohammadgm8463]

Ayn Yu actually not all of them most of nowadays rich people are wealthy from slavery trade base, war lords grandchildren and colonialism in general so yes most of them are filthy rich but of course not all of them it’s more likely if they’re from European families.

[@vlakenkherl7361]

@@ayn8465 yes they do work hard.......in milking the working people of their hard earned money. Let me give you an example the banks!

[@ayn8465]

Sahir Islam what about the banks? Could u elaborate that.

[@TheChickenRiceBowl]

@@ayn8465 Are you joking?

[@ryosukeokazawa6596]

Summary •Government policies in terms of costs on economy between lockdown and not lockdown have not been bringing any obvious results. •Since China doesn’t have convertible currency, it is not possible to govern global market. However, China and some other developing countries have strength in financial technologies. •The country which seems to be the most vulnerable is some developing countries which the government has to rely on USD borrowing, and reliant on tourism. •Many areas of economy will not go back to old economy after COVID-19, and people have any certain skills such as computer programming are in a better situation. •COVID-19 will not make globalization liability. Important thing is to diversify the supply chain.

[@skyfly107]

Can’t see diversified supply chains alone helping to overcome shortages of goods such as PPE in a global pandemic

[@richdobbs6595]

Why not? Maybe combined with stockpiles or government industries run at a loss to provide resiliency at the price of maximal efficiency? Of course, I'm one of those skeptics that think that the response has been more damaging than the disease. I mean, from a cruel economic evaluation, what do you call a disease that kills retired folks in assisted care facilities? Winning!

[@skyfly107]

Rich Dobbs Definitely not saying it’s time to end globalisation because of C19 but resiliency has been overlooked. Lockdown has been a disaster for the U.K. economy but don’t underestimate the damage Covid can do to people of all ages who have ‘survived’ it. I had it in April and even though I’m in my 20s, I haven’t been well since

[@unnamedchannel1237]

Reports here in New Zealand we will be in negative savings bank interest.

[@jcbeast_135i]

I remember 3/4 months ago commenting about this virus bc people thought it was “ LiKe ThE FlUe “ 😂🤦🏻‍♂️

[@PaulsWildLife]

Globalization - getting cheap goods, yes, cheap, as in low quality, which over the long term turns to be more expensive. Better to have high skill, high quality goods made domestically. Environments and people will suffer less.

[@brynleytalbot778]

Basically trading volume to create smaller profits per item rather than making durable goods with higher margins that last longer. The illusion has been that products are more technologically advanced so that excuses fast cycles. In fact it's been profit driven rather than advance driven given the small incremental changes. Fast fashion has exploited growing economies with cheap labour growing volumes and, in my opinion, filling charity shops so the virtuous can say they don't add to environmental destruction with their purchases. Less purchasing of better goods makes sense. We've been sold an economic lie of markets in constant expansion. It's a utopian dream that must end. Free market economics just failed. It was always destined to. As more markets were created, for instance multiple levels in energy supply, the price must increase to the consumer to support an expanding cost base. In the end we pay, competition is an illusion, and old monopolies suddenly look very efficient practices for the consumer.

[@can-uc-wakeup]

Agreed. Cheap labour, cheap things, never last. Quality has been sacrificed in the pursuit of profit.

[@johnl.7754]

High quality stuff (domestic or import) has always been available just most average people aren’t willing to pay for it.

[@PaulsWildLife]

@@johnl.7754 Not when domestic producers are being driven out of business, or worse yet, oursourced. Stop drinking the Kool aid

[@fatfat1877]

@@PaulsWildLife Theyre driven out of bussiness cause people dont want to buy from them

[@sintiaec9661]

The economy is basicly on live support since 2008

[@treasuretrails]

Very grateful for my secure living wage job in New Zealand during these times :)

[@paulawagstaff686]

Yes, we are also grateful for our leadership in NZ...Australia is receiving more devestating news.

[@Sharpy7562]

Better in the system as a crim get meals accom health care and state pocket money and free vapes in nz

[@roilhead]

@Tattle Boad I think the NZ population is waking up to the CCP. Now that needs to be realised by the Govt.

[@paulawagstaff686]

@Tattle Boad You first, MATE

[@paulawagstaff686]

@@Sharpy7562 Feel free to be a crim if you choose to...Its YOUR choice Karen.

[@rupesh.biz0008]

Gold is the real deal now. Buy & sit tight.. it will Zoom

[@growlerthunder5171]

Food and water is mate.

[@neshirst-ashuach1881]

why? it's just a shiny metal, I've never understood this fervour people have for a basically useless metal.

[@ShubhamSinghYoutube]

I hate People calling Commodities like Gold the deal , It's useless in your hands , technology companies can make better inventions with it , you're just stopping progress by hoarding it

[@paukenschlag5461]

@@ShubhamSinghKZbin In the end you buy high and give away for a piece of bread.

[@coraldiamond1922]

Rupesh Jaiswal no, you are far better off investing in toys like Lego as opposed to gold. A bunch of toys are worth investing in if you care to look. It’s far better to invest in toys over gold which can go up and down when most toy pieces usually go up.

[@AbuSous2000PR]

Excellent...especially their analysis on China's financial services industry...

[@RIZFERD]

It's just one sided analysis not a real accuracy

[@Ottovonostbahnhof]

China’s finance system was really in danger during 2014-2016, now the worst time has passed.

[@AbuSous2000PR]

@@Ottovonostbahnhof If China.. Doesn't convert its dominance in commerce..to financial...then it will collpase under it debt's weight It has to find ways to convert its currency to a reserved currency... It has to make its debt appealing to outside investment It has to find ways to spread its hegemony in china sea. These are big challenges...but they are possible. That is the only way....else it will not be able to survive...its debt weight will bring it down

[@TheZSOTTER]

Economy is never the priority of a country, lives of their people are.

[@lawrenceparkmaven7411]

I agree however Economic concerns are not just about corporate profits; the lives of the people are inextricably linked to the jobs they have and the things they can afford like food, education or healthcare. Government can provide some of this but to do so needs revenues (most often taxes) which takes us back to the economy.

[@wave9303]

call it a century reset and the rise of Asia starting point

[@jyde50]

you cant call it rise of asia, Asia is not a one single race, EU only worked because they are all one race, asia isn't like that. until you get rid of racism then you can call it asia century,

[@continualvariability3345]

@@jyde50I disagree

[@jyde50]

@@continualvariability3345 disagree or not, that is the reality, racism is one thing that is difficult to get rid of and will probably always happen, boris johnson was born in USA and is prime minister of UK, a black african or asian born and raised in UK will never be UK prime minister, indian will never be president in south korea , east asian will never be president in india. reality is that EU and USA only worked because they are one race, if France was all black people, germany was all asians, and the rest were white, EU would have never happened. ASIA isn't one race so the term "rise of asia" wont work. but you can call it rise of china or rise of india or rise of indonesia. but not asia as a whole.

[@continualvariability3345]

@@jyde50 I want to slaughter your comment but it's 11pm. Europe is as homogeneous as Asia is. of course an Indian can't become the president of SK he's not an official citizen or at least that's what is one of the requirements of my country. It's ridiculous how you're so blind to the factors of the EUs success that you would make up your own illogical reasoning.

[@jyde50]

@@continualvariability3345 keep living in your fantasy, asia is not a single race like europe is.

[@ekatarinavi9761]

Im from Croatia,we live from tourism,and with that we have low standard,low paychecks..now when we lost this season i think people Will be hungry after summer

[@Adrian-cv1mm]

Very true buy food and stay storng croat

[@kentclark6420]

We all have to be self sufficient. But sadly the family farm culture has eroded to a mechanized, mass produced agriculture.

[@user-pv3vp1cw7g]

Bit će brašna za ovu zimu ali za sljedeću neće.

[@meandyouagainstthealgorith5787]

We're seeing how scientific trust and integrity dictates the success of an economy.

[@lorezyra]

Where and when exactly is the Trump administration conceding to the "scientific trust???" Trump listens to no one above himself. Stable genius, right?

[@meandyouagainstthealgorith5787]

@@lorezyra You know he is not, right? That's why his nation is going down.

[@msharief6273]

Sometimes I feel worst to come ! Its always has been worst year to year, only technology graph is inclining

[@curiouscat729]

these are the kinds of videos that should be trending and not quarantine skin routine ffs

[@devd5355]

Perfect speakers... 👍Nice Show

[@lzyJ]

The tutorial of "China replacing USA" will be a slow motion at the view point of whole world, but in some areas or countries, it may be fast beyond your thinking.

[@marg7887]

Very thoughtful piece! Goes to show that globalization and cooperation is better than going back to Cold War and finding an enemy for the world as a whole.

[@victoriaperkovic4938]

A lot changes for global economy as well as businesses, inflluential interactions..

[@johnmark5176]

Let me tell you about the binary options, invest $100 and get back $1000 in one week, whatever you invest you get 10times,How many millionaires do you know who have become wealthy by investing in savings accounts?

[@rvotheory]

I don't see a global economy anymore ,I see a global control system hanging on for dear life

[@led0073]

I work in the construction and merchant sales industry, during Covid-19 and at present we are very busy but the company is still making people redundant, we are going to lose atleast 3 members of staff in the next few weeks. It's going to be very difficult over the next few years.

[@GehresWeed]

Without globalization we might not have had this pandemic in the first place or at least more controllable.

[@crieverytim]

Zanny Minton Beddoes. a first, middle and last name i've never heard of, all in one name. impressive.

[@mirrafi2065]

We all are going to be encountered an alarming situation. Most of the maco economic variables will be affected negatively for instance : unemployment, inflation, percentage of indigent people, sme sectors, revenue collection and finally economic growth.

[@lookingforward7590]

Its called being a responsible human being save money for worst day while in the middle of a pandemic listem to science not politicians or goverment as they prove themselves to be weak

[@hemusinghjain9422]

Then why stock market going up. Economist says Fed Putting money in stock market or by bad loan is this the way to improve business or economy or misusing power and people money , dear common man please be careful

[@mvahid2481]

How come stocks like apple facebook amazon etc. ARE SURGING DURING THIS PANDAMIC.

[@fuzzyx2face]

Because people are stuck at home using those services?

[@Sofwan786]

6:00 worst hit are countries depending on exports and tourism. Ok, so which country does notbdepend on eother tourism or exports ?

[@kahinakram]

I like how she, the foreground, is the summary of the background.

[@gretareinarsson7461]

Both the current crisis as well as the last one show how dangerous it is to have one such a dominant economy.

[@Stephen-cr3sc]

Stop calling a Depression a Recession. You already lost the truth award...I'm gone now.

[@profdc9501]

Don't worry about what to call it, or how to manage expectations. How will calling it a depression reduce wealth inequality and injustice?

[@Stephen-cr3sc]

@@profdc9501 ......In my experience, most poor people aren't very enterprising. Many do work very hard at unskilled jobs, but the 'something for nothing' people abound.

[@FutureMediaPro]

We in a Recession right now not Depression yet but it's coming soon. You will know its a Depression.

[@BenShutUp]

Thank you editors for speaking on this. 👏🏽

[@youmaarludwig5647]

These transition don't take time.... Pound to dollar occurred in less than a decade.... Please get your facts right

[@lorezyra]

I agree that globalization is **not** a liability. However, companies should approach their supply chains the same way IT approaching its infrastructure. Assume it will fail and build-in contingencies to mitigate faults and failures.

[@anthonymarquez6493]

So that's what anna Wintour looks without her sunglasses

[@msolemon]

The present world options with COVID19 is summarized in one sentence: "Your Economy or Your Life".

[@Holeyguagaamoley]

That keyboard sound really got to me, made the report unwatchable.

[@ramsesrameez5430]

Mam i want to inform you that every country has closed there tourism. Trade,stock market 70% of education institute so how it's possible that economy will remain stable or balenced..

[@lifechoices6643]

2-3 scenarios: Firstly, this virus will recede and things will be back to business as before; or, we are entering a new era; or thirdly, as some religions say,'This is the beginning of the end of the world'.

[@s1nb4d59]

The rmb is not even worth the paper its printed on.

[@happy_ppippi]

Who is gonma use Communist money? 🤣🤣🤣🤣

[@happy_ppippi]

I mean no one is gonna invest there

[@s1nb4d59]

@@happy_ppippi The people who invest in china have no moral compass or conscious for what the communist government is doing to its own people and the uighurs,hongkong and its Orwellian view of order in the world,nobody wants to live in that vision the party has and so the war continues.

[@happy_ppippi]

@@s1nb4d59 exactly. We made big mistake to build factories there

[@andrewpaterson5192]

So disappointed that the Economist still does not include , in every article, how perpetual global growth is a sustainable proposition. Sure by now they can describe what happens when exponential growth of consumption hits the finite resource of the planet. Globalisation is just a way of accelerating the consumption of resources. If you continue to advocate for globalisation, you must explain how this plays out at the boundary conditions of finite resources and global climate limits or both. Unless you can explain then globalisation looks a bit like a Ponzi scheme. Those who join late are the suckers, and in the end it all collapses anyway.

[@NJ-xp4eb]

That is what I was missing in the questions and I know they had been asked in the comments before from many watchers including myself. The talk of a new economy should be an optimistic opportunity to make things better, full review and reform to finally make things transparent and fair instead it is all doom and gloom, they openely accept and default again to old style economic excuses to debt of countries, job losses, expect less and everything will be difficult. Covid was just the event misused to justify job losses, poverty for many and wealth acceleration or to be clear stealing for select few, deaths, longterm illnesses, but unethical globalisation, bad leadership and utterly misused capitalism was the cause. So why not take off the blindfold and discuss this for once which is the easy and right approach.

[@ZenPaladin]

Space? Also realistic alternative given human tendencies?

[@richystary4466]

The world needs to be led by Geographers. A middle round all round approach somewhere between environmentalists and economists.

[@khushikumaribhagat2707]

The rich become richer and the poor get poorer

[@TheKahim]

I disagree, rich people who own firms or business are going bankrupt , because they need the middle class for their business to survive.

[@sagariocarl3345]

What I notice is that every online interview the background is always books or book shelves.

[@fialee8ca132]

If business or government wants to hold their cash assets liquid, and had USD, EURO, YEN, Swiss Franc, or Yuan as choices where would someone park their money, and have a high confidence which government/consortium won't collapse or hold their funds hostage?

[@videomonkeyman]

USD would be last one standing

[@mrpepe9502]

@@videomonkeyman USD would be the last one to pick*

[@matthewbrooker]

Jesus, Economist @ 3:30 - Tariffs are not same as sanctions!I am getting tired of supposedly senior journalists posing as financial analysts and mixing phraseology to create drama or just being plain ignorant. Don't even get me started on the Chinese apps that 'integrate' finances and social media. Total disregard for human rights and data privacy rights, but this facet of the tech is totally batted aside while the City of London slurps from the Chinese trough.

[@manuelcunharocha8889]

I do believe they really meant sanctions. It was a weird sentence logic, but the sanctions were not in reference to China, it was just one example as to why Chinese are tired of the american system.

[@4leafChief]

I can't even stand listening to this woman speak so proud

[@robertoa.m.3984]

Can I receive a Digital Country Report? What does it cost? Thank you!

[@johnmark5176]

Get 10times your investment in one week,How many millionaires do you know who have become wealthy by investing in savings accounts?let's make the world economy great again..

[@andressergio8957]

Getting to know and trade with Jason Harper this past few months has really been a huge stepping stone for me in my life. Since I started trading with Jason Harper I am able to earn $5300 every week and I only started with the bare minimum I have learnt so much about crypto currency from Jason Harper and indeed I am grateful

[@scottwilson432]

Oh yes I have known Jason Harper for quite some time now and I have seen his wonders he is absolutely wonderful in his endeavors to be sincere I am on the right track with Jason Harper

[@johnlock4538]

I only started to trade with Jason Harper not too long ago and I received my first pay just few days ago and I was really happy I do plan on sticking with Jason Harper for a very long time because to be honest he is a true genius and a very honest manager

[@ricardoportu1888]

How can I get to Jason Harper I have heard so much about him

[@ugiagbekelly8651]

Working with Jason Harper has been a really big step for me after saving the money I was able to earn weekly I have been able to start up the business I always wanted to do since I was s kid and everything was possible through Jason Harper

[@alexanderpattinson7423]

I am really glad I got to know Jason Harper because I have really learnt a lot from him through Jason Harper I am able to earn $7400 weekly with him and trading with him has been going more smoothly than I ever anticipated it would

[@anonymvoid4801]

Open your eyes people

[@louie1086]

You know what’s odd, I haven’t heard anything recent of the naval ship infected with covid

[@mirror1675]

It was scuttled 150 miles off the coast of Guam with all hands on board.

[@louie1086]

Mirror16 thank you.

[@LeroyBraun]

These downturns occur on a regular basis. Some are worse than others. It's not the end.

[@georgefolgers8731]

Hold on tight , the Hospital bankruptcies are going to be extremely high. Globally the hospitalization cost, will shunt all global economic health and bring most to its knees, Hold on for major global restructuring.

[@jenniferdavis2110]

Lol I better start reading books now 😁😷🙄

[@goosesteppa7642]

Do books have Chinese buttons too!

[@Sunshine-cm9oc]

Corona is drama just like 9/11. But Very few can understand this game.

[@marczhu7473]

worse as it hit the whole world and has the same effect than a global strike as nobody nearly work.

[@growlerthunder5171]

It is a spiritual battle.

[@christopherarmstrong2710]

1:15 “knock-on effects” You never heard it before this year, but now it has become the official phrase of 2020.

[@sammychung4156]

Sweden has the lowest person per household hence why it's easier to maintain distance from each other. They also had high rate of participation in self lockdown.

[@bangladesh6027]

Paused at 0:02 to speculate how thorough this video will be.. hmmm

[@mofwoofoo1]

2 things i really disagree with: "the best protection is a globalized system" and that the solution is vaccines. aren't we already protected with having come into contact with others who have the virus? and what about the solution being, healthy ecosystems and cities, no more pollution, etc? globalization is a major player in the dystopic society we have created.

[@EdTowel-ww7yh]

They're already taking steps to reclosing the economy in stages.

[@dominick253]

We'll just print more money

[@johnmark5176]

Get 10times your investment in one week,How many millionaires do you know who have become wealthy by investing in savings accounts?let's make the world economy great again..

[@Singersourabhshroff0623]

In covid-19 pandemic situation what is the government doing to solve the economic problem of the general public and economic planning What are the done by government for generating employment in different sector

[@Singersourabhshroff0623]

@abbsnn cose . ✌ yaa mam I think so they are getting money to tell a lie and they don't want that they revel the truth in front of us.. That's why..india stated the China products and the main thing in China is going the system of monarchy..... Nice...to talk with you

[@talknight2]

World's most job-secure career path is healthcare right now. Step right up!

[@suhaibwani971]

5:19 regarding the tourism industry I think that Switzerland's tourism industry is going to get effected the most this year and also the upcoming years because people now are going to think about another way of globalisation which might not be in favour of the Swiss tourism industry. The idea of new globalisation is discussed at 8:50 and i completely agree with that because the visitors are going to get decreased by a huge number and people might not find it suitable to visit a country the way they did. Also the trade would not be the same as new globalisation will affect that too.

[@johnmark5176]

Get 10times your investment in one week,How many millionaires do you know who have become wealthy by investing in savings accounts?let's make the world economy great again..

[@reginak9507]

The economist is part of the problem. Follow the money and who owns it.

[@barryamorris]

If you want to re-start economies around the world, you need to drastically increase the velocity of borrowing and spending! One sure fire way to get people spending is to give them money! Call it Universal Basic Income! It’s time to re-think how we do things around here!

[@sophiecimon]

This is a question for the show: what do we know about the impact of COVID on "illegal trade (drugs, human trafficking, money laundering, etc.""

[@MUSTASCH1O]

People who see COVID-19 as proof against globalisation forget that if it wasn't for globalisation the vast majority of people would have entered the crisis poorer to begin with, and so would have ended up even worse off than we are now when the national and global economies slow down.

[@pranavthanedar8592]

I disagree of Chinese apps being better than the other. They are better because they operate in a controlled environment and they have access to all the user data as they have no privacy regulations. Essentially they have a better training data set. These apps shamelessly collects its users data, which gives them an advantage.

[@lzyJ]

seems like you believe bank doesn't have access to your user data, how funny is that.

[@JustAnNPC69]

“Unemployment is rising” so in turn more people will suffer more people will feel forgotten by the current government and some might even feel oppressed by it. So my question is will we see another rise of national populist party like in the 30s?

[@PureGrowHub]

I think the cure against covid is to not talk about it anymore and make no deal about it.

[@sheikhhameed1388]

Pandemic blow to economies lasts four decades as against maximum 10 years impact caused by a recession. Wars too destroy crops, land, structures, machinery and capital but pandemics destroy more than these. As studied by neo-classical economists, apart from pandemics resulting in low returns on assets, there exist sustained periods, over multiple decades, depressed investment opportunities due to excess capital per unit of surviving labour, and or heightened desires to save due to an increase in precautionary saving.