Before Covid-19, the world we were living in is way different from the world we would be living in after “Post Covid -19” after this pandemic and how Capitalism is failing in this global pandemic and how superpower countries are no longer superpower.
As we all know, Coronavirus is a deadly virus as it has spread over 190 countries and in U.S states. The global pandemic is having an impact on global economic growth, banking, dying industries and market borrowing etc. WHO (World Health Organization) first declared Covid-19 world health emergency in January 2020, more than 80 countries have closed their borders, ordered the business, education sector to close in the first days of world health emergency. Although it has damaged 25% of the economy. Soon there will an increase in the unemployment rate, like the U.S GDP has fallen from 4.8 at an annual rate. Since the fourth quarter of 2008 during the global financial crisis. Foreign investors have pulled an estimated 29 million. Latin America would fall into the line of poverty, over 30 million people have applied for state support of their wages. However, during this time of crisis most people are placing their trust in the government.
From the very start, the U.S was known as a superpower, a pure democratic state. Interestingly, we can clearly see that China, a socialist country with a central government and disciplined populations, are more suitable to fight pandemics like Coronavirus. Some so-called democratic states like the U.S and the European countries have not only failed to come out with a cohesive response but Capitalism has fallen in short, Capitalism scars from the crashes of 2001, 2008 and 2009 had not healed yet. One thing is clear, that global pandemic depends upon business and investment on human beings and their survival of their socio-economic class. The post Corona environment is definitely going to change now states and people come up with a new social contract. Global pandemic has darned the common man and that capitalist ideology and liberalism has failed and their weather capitalism is an anthemia to the world humanity. The World Health Organization is also an idealist, but unfortunately no new vaccines have still come yet and it might take 12 months to make a vaccine. In short, the world after Covid-19 will create a world that is less open, less prosperous and less free. The big companies will take time to come back to their position where they were before the Global pandemic. The deadly virus, inadequate planning and incompetent has placed humanity on a new and worrisome path, not just capitalism is failing even liberalism is falling apart. The future scenario would be very different like the world has changed and come from various stages and this stage after Global pandemic will be very different.
Isra Khan
Islamabad
