Coronavirus and its Impact on Global Economy: Speeding up Structural Changes

DOI

10.2991/assehr.k.201105.042How to use a DOI?

Keywords

Coronavirus pandemic, world economy, deglobalization, economic turmoil, post-coronavirus economy, labour market

Abstract

Our world is currently undergoing the tremendous influence of the COVID-19 pandemic. The Coronavirus has interfered all spheres of people’s lives and, of course, has not ignored the socio-economic field. Not only the number of COVID-19 victims is growing, but also the economic damage from measures taken by the governments to protect the population from the spread of the virus causes the global economic downturn. The Coronavirus has affected not only each state, but also the structure of the whole world economy. International trade, small and medium enterprises faced a number of difficulties after the border closures, the global supply chains of goods collapsed, the percentage of unemployed people increased, as well as human resources were no longer used effectively. The main objective of the study is to find out how the world economy will change in the post-coronavirus period and examine the main factors influencing its structural changes. In our research we used a number of methods such as data matching, expert opinion assessment and the case study. As a consequence, we concluded that we will witness a completely new era of economic development in the post-coronavirus period in which globalization processes will play a secondary role. Regionalization processes, as well as the use of new technologies, including artificial intelligence, will become the guardian of stable development without any serious economic losses.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - O.V. Gributskaya
PY  - 2020
DA  - 2020/11/06
TI  - Coronavirus and its Impact on Global Economy: Speeding up Structural Changes
BT  - Proceedings of the Research Technologies of Pandemic Coronavirus Impact (RTCOV 2020)
PB  - Atlantis Press
SP  - 233
EP  - 238
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.201105.042
DO  - 10.2991/assehr.k.201105.042
ID  - Gributskaya2020
ER  -