The world will not be the same post COVID-19. Make no mistake, world economies have been devastated and business as usual will not return quickly.
Economic depression could follow if world governments do not respond, in concert, with a robust recovery plan on the order of magnitude of the European Plan aka the Marshall Plan following the Second World War. Nothing less will suffice and would only extend the suffering.
The recovery will be slow and prolonged, and it will most likely represent an L-shaped one, not a V or U shaped one.
We will all be required to participate and, above all, be patient. Do not panic; we will get through this.
Key to any recovery will be the speed with which the U.S. economy rebounds.
This will be dictated by and depend on the co-operation of the foot dragging, do nothing, obstructive Democratic party, which has been hijacked by Nancy Pelosi and Chuck Schumer.
Failure to jumpstart the largest economy, behind China, would negatively reverberate worldwide.
As with China, as noted below, Canada must revisit our relationship with our fairweather partners to the south. Nothing has tainted our views more than the N95 Face mask antics of President Donald Trump.
It is noteworthy that the Democratic party tacitly endorsed his decision by staying silent on the matter. Their silence was deafening. This from a party at odds with the president from day one.
Perhaps Canadians should send a not-so-subtle message in response by shopping Canadian and supporting our own recovery, and spend our vacations at home.
A note to cross-border shoppers and snowbirds: Trump will be pushing his “Buy American” mantra to support the U.S. recovery, and all other countries will undoubtedly follow. It is incumbent on all Canadians, therefore, to support our battle cry. “Buy Canadian. Shop in Canada. Support Our Economy.” Put Canada first.
China should participate in this turnaround. Its first step should be to compensate countries by massive debt forgiveness and second, by a multi-trillion dollar distribution to the world's devastated economies caused by the virus. This is the third virus to originate in China and it will not be the last.
An additional lesson learned from this pandemic is the need to seriously review international supply chains.
Prudently and astutely our strategic manufacturing businesses must be repatriated. And the world should stop treating China as though it is a benign partner. It is a dictatorship with global dominance aspirations.
Our federal and provincial task torces, currently being assembled, in concert with our major trade unions, have an obligation to repatriate our businesses so foolishly off-shored in favour of corporate greed and the next shareholder quarterly results. This is all in addition to major infrastructure projects., a Canadian-focused Marshall Plan – on steroids.
Action-oriented big ideas are required. Partisan politics need to be shelved, egos and obstructionists left at the door. Procrastinators — stay at home. “Make It Happen Only” applicants need apply.
A brand new era has been thrust upon us.
Let's get it done. Go Canada.