/ world right this moment information/ The epidemic of the coronavirus like a “large wave” hit the prevailing world order and the financial system, writes the political scientist Jean-Christophe Gallien in his article for Le Figaro. And the implications, he’s positive, will likely be severe for tens of thousands and thousands of individuals around the globe. Subsequently, he calls on politicians and economists to develop a set of efficient and impressive measures to revive the true financial system after the pandemic.
Humanity didn’t study from SARS, and didn’t put together for the coronavirus epidemic because it ought to. “The brand new dying, financial and social, is spreading even quicker and wider”writes political scientist Jean-Christophe Gallien in an article for Le Figaro.
If 5 thousand folks have died in the mean time, the lives of a number of tens of thousands and thousands will change if the governments of varied international locations don’t take drastic measures. We’re speaking bankruptcies, layoffs, unpaid payments, common creditworthiness.
The creator of the article suggests, along with preventing the illness itself, “to vaccinate the financial system in opposition to the present burnout”. In keeping with him, the pharmaceutical security of the inhabitants has turn out to be a sufferer of the short-term pursuits of the monetary elite. Thus China was allowed to turn out to be “manufacturing facility of the world within the age of globalization”. And finally when China “I am coughing”the entire planet “acquired a fever”.
In keeping with the political scientist, the epidemic “like an enormous wave”, affected the already simmering geopolitical and monetary atmosphere. The implications weren’t lengthy in coming: inventory markets started to shut one after one other, an oil conflict broke out between Russia, Saudi Arabia and the US, and hostilities and the migration disaster resumed in Syria.
„We’d like medical medical doctors who can discover a medical answer, however we’d like financial medical doctors who would provide you with efficient and long-term solutions, and particularly politicians who take accountability and guarantee a future with out vulnerabilities.’ And provided that the coronavirus is extra lethal than many different ailments, the response to it should be huge, quick, coordinated and straightforward to implement.
Now China, which was the primary to endure from the epidemic, is already popping out of the disaster. Its financial system was weakened, however Xi Jinping gained a private victory and confirmed the power of the Chinese language political system in comparison with the weaknesses of the West.
On the identical time, because the virus moved to the West, an oil conflict broke out, the creator of the article notes. US ally Saudi Arabia determined to drop oil costs with out warning. “Clearly Moscow adopted.” However each Moscow and Riyadh with their reserves and manufacturing prices can deal with such a low oil worth. However the USA with its liquefied fuel won’t survive, notes the creator of the article. If costs keep at this degree, then your entire US hydrocarbon business may disappear. Because of this, manufacturing will likely be closed, unemployment will enhance, recession will start first on the regional after which on the nationwide degree.
Syria, as earlier than, stays an space of collision of world forces, and now additionally an space of financial battle. In keeping with the creator of the article, Russia, China, Turkey and others can observe and reap the benefits of US weak spot and hesitation relating to this area. And now everyone seems to be making an attempt to take part within the emergence of the brand new multipolar world. Thus, even OPEC, which is meant to regulate the markets, was paralyzed by the uncoordinated actions of Saudi Arabia, which was thought of an ally of america. And the creator of the article considers this case indicative.
As for Europe, it turned out to be “in a sanitary, financial and geopolitical inferno ignited by the spark of the coronavirus”. Italy has been left to its personal units by its EU allies, and after the epidemic, it is going to return to recession. Along with the coronavirus, Greece and Bulgaria are additionally dealing with “cynical blackmail” of Erdogan on the problem of Syrian refugees. Europe’s essential ally, the US, the place the election marketing campaign is now in full swing, has confronted the lack of strategic positions and new financial circumstances. Because of this, the EU faces a problem not seen for the reason that Second World Conflict.
The creator of the article in Le Figaro insists: in such a state of affairs, a concrete plan of motion is required within the discipline of the true financial system, not the banks and funding funds, which had been primarily supported in 2009.
Translation: M.Zhelyazkova
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