COVID 19 - Will the economy collapse, or just change it's face?
It is clear that the world that emerges from the crisis will be transformed, yes, but also recognizable—for better or worse.
But by this pandemic Is the economy actually collapsing or Is it just going to change its face the way we understand economy today. If we see carefully the economy is going to affect a large number of enterprises especially those that involve huge manpower and those who cannot work online or work from home. For instance sectors like manufacturing of non-essential goods. But Instead, the COVID-19 crisis seems poised to accelerate or intensify many economic and metropolitan trends that were already underway, with huge implications of their own. While it seems natural to assume that virtually every industry will be humbled by COVID-19, it sure seems to me that the big tech titans—Amazon, Facebook, Google, Microsoft, Apple, Netflix, etc.—will emerge from the crisis stronger than ever. These titans captured dominant market shares in the decade following the last recession. Now, I bet the digital rich will get richer, as stay-at-home workers rely on their remote work tools, video calling, e-commerce, and video streaming. Real issue is being faced by low wage workers. Daily wage workers are already suffering severely due to stoppage of income. Although governments all around the world, as well as social and religious organizations, are helping to their highest extent. The issue lies in the fact that maximum daily wage workers work at construction sites. Once the lockdown is removed the issue retains that house development works and construction works are not projected to revive over the next two years. This concern needs to be addressed as the government will not be able to support all construction workers for such a long period with tax collections already depleting. It would be foolish, amid such uncertainty, to make overly confident predictions about how the world economic order will look in five years, or even in five months. But It is clear that the world that emerges from the crisis will be
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