The coronavirus pandemic will have three long-term implications for the global economy, Branko Milanovic, a leading researcher at the Stone Center for Socio-Economic Inequality at the City University of New York and professor at the London School of Economics, said on March 25.
According to him, the first will be the growth in the number of remote workers.
“Now many people say that we will work in a hybrid mode – for example, three days in the office, two from home,” he said in an interview with RBC.
Previously, these opportunities were not used, although many tasks can be performed from home, the expert emphasized.
The biggest challenge to popularizing remote work in the context of the coronavirus pandemic is for the middle class of developed countries, which will have to compete with workers from other countries who have the same skills, but are ready to work for less money, Milanovic is sure.
Also, during the days of the pandemic, the economic and political conflict between the United States and China intensified, and in the future this confrontation will only intensify. According to the expert, in the future, the confrontation between Beijing and Washington may significantly affect the ability of the PRC to create innovations.
The third consequence will be that the development of vaccines for COVID-19 will create the potential for the development of other drugs. This was a positive surprise, the expert added.
Earlier in March, the International Monetary Fund noted that the global economy is recovering faster than expected. For example, China has already returned to pre-crisis levels, but most countries continue to grapple with the effects of the pandemic.