The International Monetary Fund has coined the COVID-19 pandemic era that we are facing as the “The Great Lockdown” and categorized it as “the worst recession since the Great Depression, and far worse than the Global Financial Crisis.” Which implies the recovery, when it happens, will be long and require significant policy actions.
What started as a global health crisis at the beginning of this year is spreading into financial and economical domains. And no country is spared – developed, developing, or under developed. In other words, this is a global crisis of historical proportion. No country can get out of it alone.
Thus, “Making America Great Again” will only happen when we make the world whole again. Myopic nationalism is not going to work. Same reason why UN Secretary-General António Guterres calls on “an immediate global ceasefire in all corners of the world . . . and focus together on the true fight of our lives.”
This a chilling projection and a wake up call at the same time. Will the countries heed the warning?
Are you prepared for the long haul?