Coronavirus – What Comes Next?

Most of you will agree with me that after the coronavirus crisis is over, what we will than consider a normal state will not be the normal of the past. This virus will shatter, to a large degree, global unity and international cooperation. Countries will develop more of a national focus and strive to promote their self interests above international ones. The fear of a follow up bout with the virus, no matter how small, will have nations take drastic actions like closing borders and their citizens will again hoard medical supplies and food. Global economic commerce will also not be the same. During the crisis countries have learned that dependency on a single supplier country for critical goods isn’t such a great idea. It proves that everything which is cheap may not always be a bargain. In a crisis product availability trumps cost! Nations will begin the process of creating local structures to produce critical goods within their own borders. In other words, many companies will have to adjust their business models of parts and product sourcing. I see economies rebounding but at a slow pace and some may even stagnate which depend heavily on tourist Dollars. But we who come through this crisis will emerge being more flexible dealing with change and thus will be able to adapt to the new normal. The possibility is real that the crisis has taught us much about more personal interaction with families and friends