Daily Times

It’s no surprise that the fight against the coronavirus continues to completely dominate the international news cycle. That is because it has reached almost all corners of the world in very fast time. And more people are now forced indoors, more than a billion across the world, than at any recorded time in human history. Naturally that is fast having a very visible effect on the way the world is used to functioning. In addition to the startling number of deaths, which continues to grow at a frightening rate, and the sudden unbearable strain on global health facilities, this crisis is having a very profound effect on the international economy as well.

Markets hate uncertainty even more than bad news. And since the biggest problem with the pandemic is that there is still no known cure, and normal activity simply cannot be resumed till there is one, there is considerable concern about just how long governments and their stimulus packages can keep things running. And perhaps now, while things are still holding, is a good time to consider what the future might look like.

Public life is already being effected in ways that will require careful thinking and planning. Children all over the world have been out of school for a while now. There’s no way they can attend classes or take examinations in the present conditions. So, if things do not begin to turn soon, perhaps a new, at least interim, system will have to be created; one which allows for education as well as advancement without the traditional form of examination. Similarly, people everywhere are likely to lose jobs if industries remain shut and trade almost at a standstill. And just like sporting events, including the Olympics, as well as pilgrimages are being cancelled, there will also be a telling change in the world of politics.

How, for example, will elections be held if things remain more or less the same? And with some of the leading industries of today, like aviation, production and tourism, running the risk of bankruptcy, how different will be the financial landscape of the future? No concrete answers can come till there is some certainty about a possible vaccine for the coronavirus. But world leaders cannot simply stay isolated and wait for a miracle. They must, at least, proactively prepare for all sorts of outcomes. That way people, too, can be educated about what to expect down the road. *