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The impact of COVID-19 on the global economy and businesses. Innovative ways to organize a comprehensive response to crisis.

Mardon Abdusattorov

The impact of COVID-19 on the global economy and businesses. Innovative ways to organize a comprehensive response to crisis.

Rel. Elisa Ughetto. Politecnico di Torino, Corso di laurea magistrale in Ingegneria Gestionale (Engineering And Management), 2022

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At the dawn of 2020, the global economy recorded its tenth year of unprecedented uninterrupted growth, while economists and government financial officials predicted that such dynamics would continue for years to come. But then came a mysterious virus that was first seen in China in December 2019 - a new type of coronavirus that has spread rapidly across the globe. Its appearance dispelled hopes for a continuation of the economic rally and provoked the sharpest recession in decades. The International Monetary Fund estimates that the global economy shrank by 4.4% in 2020. For comparison, in 2009, when the world last faced a financial crisis, global GDP fell by 0.1. Business closures and other government-mandated lockdowns in many parts of the world have led to a surge in unemployment not seen since the Great Depression. However, the levels of the number of unemployed in different countries of the world vary significantly. The global economy is recovering from the impact of the pandemic, but this process is slowed by the emergence of new variants of the coronavirus, geopolitical tensions and supply disruptions. The devastating socio-economic impact of the COVID-19 pandemic will be acutely felt throughout almost the entire world in the coming years. A reliable and sustainable recovery of the world economy, according to UN experts, is possible only if investments are made in the economic, social and climate sustainability of the planet in accordance with the current difficult situation. The IMF notes that projections are based on the assumption that the epidemic situation around the world will improve by the end of 2022, the percentage of the vaccinated population will increase everywhere, and coronavirus treatments will become more effective. The global coronavirus epidemic has the potential to change entire industries and the behaviour of businesses and consumers. The move to online shopping could become a long-term trend, as could workers telecommuting. The purpose of this study is to analyse the degree of impact of COVID-19 on the development of the global economy within the current unfavourable economic environment, assess the depth of the negative impact on world markets and trade, predict the scale of the crisis in the coming years and the possibility of a super crisis in the near future. We will also consider new trends and prospects for post-crisis recovery.

Relators: Elisa Ughetto
Academic year: 2021/22
Publication type: Electronic
Number of Pages: 49
Corso di laurea: Corso di laurea magistrale in Ingegneria Gestionale (Engineering And Management)
Classe di laurea: New organization > Master science > LM-31 - MANAGEMENT ENGINEERING
Aziende collaboratrici: Politecnico di Torino
URI: http://webthesis.biblio.polito.it/id/eprint/23852
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