What economic situation with COVID-19 for France and its European neighbors?

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If we are faced with a situation that has no equivalent in recent history, in long history it is different: major epidemics are the engines of history, like wars and economic crises. 26 centuries later, we are faced with the same problems as those highlighted by Thucydides during the great plague of Athens in the 5th century BC: trying to understand how this disease presents itself and acquiring prior knowledge so as not to be faced with the unknown.

This epidemic is a very particular shock, both in terms of its violence: the economic growth of developed countries must fall by 9.8%, much more than during a stock market crash, and its universal nature: 187 of the 197 states that count the planet are affected by COVID-19.

 It is also a complex crisis: health, economic, social, humanitarian.

The shock is universal, but the reactions are very different. China has mobilized all the resources of its total capitalism and regained control of the epidemic. It is the only one of the large countries that will be growing this year, between 1.5% and 2%. As for the developed countries, there is an unprecedented mobilization of economic policy to move quickly, with fiscal and monetary policy implemented in a few weeks, and nearly $ 20 trillion has been injected into our economies (compared to 5 Trillion to save the banks in 2008-2009).

Three blocks stand out in developed countries:

The populists who spectacularly missed out: Donald Trump, Boris Johnson, Jair Bolsonaro ...

Some countries have responded very well: Germany, Northern Europe, New Zealand, South Korea, Taiwan ...

Certain countries, in southern Europe, have been very strongly affected, in terms of health or economics.

Companies that have communicated wisely and with the right message will come out the winners of this period, unlike those that have remained silent.

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Stay Safe and Take Care

To the Pleasure, to Exchange,

By Latifa Zenaina

Consultant Specialist in Communication &Digital Marketing

www.latifazenaina.com

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