COVID19- A DRIVER FOR “DEGLOBALISATION”
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COVID19
Lewis Mwape’s Our Child, Our Future” Campaign launch at Kalaba Primary School
By Lewis Mwape
At the dawn of Covid-19, I wrote about how a pandemic could affect a global Economic Systems and how at national level we needed to focus on both health care system particularly developing prevention measures against the spread of Covid-19 among the citizens and creating a resilient economy driven by locally supported economic activities. *As a nation we need to devise economic measures that would respond to a “World Without Others”….*
*In just few months, the World has experienced a surprisingly major Global Economic contraction.*
Economists have projected that the Global Economy is expected downgrade to shrink by 2.2% in 2020,
more than the contraction of 1.7% in 2009.
Europe, Asia, USA and Latin America will be especially hard hit and this will have adverse impact on the poor countries and vulnerable economies especially in Africa.
*In many organised states or countries, you will observe that the most important first-response economic policy is the healthcare and other actions that are taken to reduce the spread of the virus. Effective control is a prerequisite for the return of consumer and business confidence, lack of which is the driver of the National and Global recession.*
Looking beyond that, the next priority is fiscal policy, and the scale of measures such as stimulus spending and income support, and the manner in which they are directed.
For Zambia and many other countries Tourism Sector is severely affected. This is attributed to cancelation and restrictions of flights with major Global markets experiencing Lock Downs!!
There is so much anxiety and panic at all levels of Global System… DEGLOBALISATION is a possibility but Global Economy will Shrink and each nation will need to develop economic SURVIVAL MEASURES with a Robust Health Care Response System that can respond the WORST SCENARIO!
LEWIS MWAPE
MEMBER OF GLOBAL SYSTEM EXPLORERS
