Dan Dobry
Dan Dobry

The Winner and Losers of the Coronavirus

Graffiti on a wall in Hong Kong “There can be no return to normal, as normal was the problem in the first place.” 

The world is still very busy with the virus or as the prime minister of France, Macron has defined it as “The war against the invisible enemy,” and after three scenes it is still difficult and premature to paint a picture of what the world will look like after the day after. 

However, everyone all over the world is aware that we are living in new unchartered waters. The courts of public opinion all over the world are judging their politicians and healthcare infrastructures and mostly the results are not impressive. 

Whatever happens, the period had changed us and taught us a lot, many things that we thought to be impossible are happening. The day after, it will not be a return to the day before, but new realities have emerged, and we will never be the same. 

Globalization: when talking about winners and losers of the virus the first thing that comes into our minds is that the winners are technology and healthcare and that the losers are entertainment and travel, but the real winner is globalization. 

Government all over the world are doing their best to encourage national issues and discourage globalization, but citizens of the world are already global, they cross borders to work, to Invest, to live a better life. Understanding taxation policies, currencies, understanding cross border issues are the future but this is not in the best interests of local Governments. 

Relationships between the world’s biggest powers have never been so dysfunctional but it is clear to everyone that if we do not come together and join forces, we will not be the winners of tomorrow. 

The discussion in global think tanks is not about cooperation, but whether the Chinese the Europeans, or the US will emerge as leaders of the post-coronavirus world.

The new agreement reached between the Australians, the British, and the Americans is no surprise as they share common values and a common language. 

Will we see in the new world a new “Anglo Saxon Empire” who will lead the way morally?

After the Second World War Britain turned to the left. No excuses anymore for unemployment, poverty, and underfeeding”. Using only half the vision, energy, and invention they had after the war when they proved there is nothing they cannot do? They put aside the “old fogies” who say we cannot afford this and mustn’t do that and the new changes in tax legislation in the UK are slowly copying post-WW2 policy.  

It seems that the pandemic has turned globally into a competition for Global Leadership, and it will be the countries that most effectively respond to the crisis that will be the winners of tomorrow. 

The crisis also represents a test of the competing claims of liberal and authoritarian states to better manage extreme social distress. As the pandemic unfolds it will test not only the operational capacities of organizations like the WHO and the UN but also the basic assumptions about our values.

What will be the major changes we can expect? 

  1. In the future, we must be proactive on sustainability, know how to derive value from cloud computing, communications systems, focus on cultivating talent, design organizations for speed, and communicate purpose across their organizations.
  2. Energy companies will face increased regulation to significantly reduce fossil-fuel dependency. We must progressively improve our operations overtime to run with a lower carbon footprint as well as doing this more safely and profitably.
  3. Public–private partnerships will emerge, the government will align with the private sector to better manage the risks of undertaking large projects. Social Housing projects in the UK are a perfect example. 
  4. Like streaming music or driving electric cars, eating cultivated meat—grown in a bioreactor rather than in an animal’s body—may eventually seem totally normal. 
  5. The Future of Cryptocurrency: It is impossible to discuss the future without discussing cryptocurrencies. Some economic analysts predict a big change in crypto is forthcoming as institutional money enters the market. The world is in dire need of a global currency, and this may be the solution. 
About the Author
Dan Dobry was the founder of the Union of Financial Planners in Israel (UFPI), served as the first Chairman and President of UFPI. Dan was the Global Council Representative for Israel for the Global Community (FPSB) from 2012 - 2018 and from January 2019 is a member of the Committee for Standards and Qualifications for the European Union (SQC).
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