“It’s impossible to fully grasp how the coronavirus will affect the global economy or predict the long-term impact on companies and industries. The decisions made by policymakers about our social and economic structures will greatly influence both the virus’s persistence and its economic fallout.
Still, across various scenarios, a few clear themes emerge.
First, not all debts will be repaid. Some countries can manage high debt levels and may wisely choose to increase them. However, it’s unrealistic to expect a return to historically sustainable levels without creditors taking a loss.
Crises like this tend to accelerate existing global trends. We’ve already seen fragilities in the economy—such as lagging innovation, rising protectionism, and increasing market concentration due to over-regulation. The question is whether we will now face and fix these issues.
There is a clear need for leadership—both political and corporate. The crisis offers an opportunity to confront long-standing economic weaknesses and drive positive change.
Lockdown reminded us of the dignity of work, the joy of travel, and the importance of collaborative, cross-cultural problem solving.”
Coming next: Professor Primož Hvala shares insights on how to prepare for future sales success.
Stay tuned!
