COVID-19 PANDEMIC (where this is taking us )
First of all , I'm not a writer , I'm an analyst. I process information, think, then relay it the best way possible.
Ok so we all know the coronavirus pandemic is going to affect our economy, but the real question is, how and where exactly would it hurt?
The simple scapegoat in this story is the service industry. Here’s why…
The service industry comprises of finance/investment industry, supply chain, entertainment, media, transport, sport, and insurance. These industries hold essential parts of the global economy, for example, consumer spending accounts for almost 70% of US GDP.
I’m sure we can see how the pandemic has been flogging them one by one.
But what really are the economic implications?
The economic impact of the coronavirus pandemic are explained by business insider in 2 possible scenarios,
First scenario leads to a slight recession affecting only Q2 and Q3 2020, with economic recovery seen in Q4 2020. We expect to see a few layoffs and corporate bankruptcies’.
The second scenario explains a period of prolonged contraction where economic crisis spreads throughout the year resulting in a financial crisis close to or even more severe than the financial crisis of 2008-09. This will lead to a significant distress in the world financial system and fall in global GDP.
But where will this pandemic take us to?
Oh yes you guessed right, 5G global integration!! ,
If you're still thinking about the conspiracy, something is really wrong with you.
I will talk about telehealth and teleconferencing only, the full report explains others.
Telehealth -5Gs lightning-fast speed near-instantaneous communications empowers physicians to treat, diagnose, and operate on patients without being physically close to them. Example, Telcoms ZTE designed a 5G-powered system that enables remote consultation and diagnosis to help during Coronavirus pandemic.
Teleconferencing –employers can now see the need for remote working using platforms like google hangouts, zoom and so on. There’s need for 5G connection at offices and homes to provide real-time and uninterrupted communication.
My simple point is, whether China is trying to take over the world or not, the world is moving on to a seamless connectivity and autonomous economy, and the sooner we realize that the better for us all.
I mean lets think about it , South Shore hospital in Nigeria piloted telemedicine for consultation in order to reduce human contact.
Bar-llan university in isreal began the use of autonomous minibuses to transport patients, medical supplies , food and clothing to isolated hospitals in Isreal.
5G is expected to contrinute $2.1 trillion to global real GDP by 2035(Business insider inteliigence)
I think conspiracies, i don't talk them. I believe data will show you what it is and what is not.
The question now should be , in your respective profession , how do you plug yourself into this rapidly changing economy ?
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Thank you for reading