The Global economy has been an enormous impact on industries, enterprises, and small businesses, especially given that many have had to pause operations, implement pay cuts, and fire or furlough their workforces to make it through this period in no way of knowing when normality will return. It is, therefore, safe to say that we are on the verge of a global recession, recovering from which will be difficult, to say the least.
The world has gone into self-isolation; coronavirus Pandemic has brought catastrophe in the world except for beneficiaries. The so-called round the table who has control over the world financial, economies, corporations, resources, establishments, governments, entertainment, enlightenment, and labor units. What we people fail to realize is that we've been programmed by the elite class to be comfortable in an unnatural way of life, supporting their agendas.
The world is following one rule right now to keep themselves in isolation, use the mask, hand sanitizers, and keep the social distance. Imagine the power of those people or an agenda launched by them. Countries are debating on the vaccine; some are playing blame games diverting the whole world to what they portrait to empower their agendas. Transforming the industries, having control over economies, strengthening the dollar, planning on Oil, making money from the internet, satellite, data, supporting underdeveloped countries in the mean of financial support in return of huge markup, sanctions, and more control over them. They will end up that meme of fear into the mark of the beast, binary, barcode, vaccine as many names. We must not reduce our emotions to fear, especially in times of turmoil and uncertainty, for death is not the destroyer of life, but the liberator of life. To be afraid of death is to be already dead. Fear is our true enemy, the great lie, the sole destroyer of humankind.
As far as you think they are willing to go to protect which they hold most dear (power, controllability, agendas), you can't possibly fathom how deep that well of their truly goes. It's a multi-headed hydra, you cut off one head it grows two others. We have to cut off every head and burn the rest of it. It's a mythic battle and it's not anywhere close to being over.
We can't deny the international rule of business, companies like Google, YouTube, Yahoo, Microsoft, Face book, Twitter, Instagram are getting benefits. Those benefits of internet openness include positive effects on trade, innovation, and entrepreneurship, macroeconomic performance, and social wellbeing. Preliminary data globally has identified that total internet hits have increased somewhere from 50% to 70%, while streaming has approximately increased by 12%.
The local services industry especially have been subjected to starvation as all the small business such as Hair Cutting Salons, Cobblers, Gold and blacksmith shops, Electricians, Booksellers, daily wages workers have lost their living owing to lockdowns globally.
The rising economic uncertainty because of the pandemic has caused many businesses to reconsider their strategy for the future. Evaluate the future scenario - what will the world look like after this is over, how will your customer behavior and buying power be impacted, and how will that impact your future product/service offering? How can you prepare for that future, both as a company and with the skill sets you need to innovate and grow? While we have never experienced a pandemic of this magnitude (that has literally paralyzed 80% of the world), past economic recessions have taught us that this period is also a time for opportunity. Companies like WhatsApp, Venmo, and Uber were all born soon after the 2008 recession.
In order to adjust to this changing world, companies must be prepared to adapt and adjust their product offerings accordingly. As noted earlier, the pandemic has catalyzed the process of making digital transformation mainstream, thereby creating an opportunity for companies in edTech, eHealth, eCommerce, eLogistics, eTrade, ePay, and more.
Pakistan the administration should adopt the framework & Infrastructure of e-governance, data governance with data ethics, and business activity databases for the transparency that enhances their capabilities to effectively manage perceptions of economic culture. Adherence to stringent ethical standards, as well as the use of creative technical tools, digital policies that optimally satisfying the auditable services, need for Pakistan.
Check over the world economic analysis, you will perceive devaluation in all currencies except dollar while everything is closed in the entire world. Currencies of Bangladesh, Canada, and the Philippine didn't face currency devaluation because they continued their trade. As an administration or state of Pakistan do we oblige our traders, importers, especially exporters? What is the analysis, calculation, and impact report on the economy after lockdown when 180 countries including Pakistan will open up everything? Does Pakistan have the capacity to face the consequences after lockdown? How to tackle the US Dollar against the Pakistani Rupee in the interbank and open market trading at 209+ PKR after one month when this is over. When Pakistan will initiate digital transformation on trade, industries, and enterprises? How Pakistan is planning to strengthen the economy?
After lockdown, we will witness the division between countries, new world order, different blocks of countries, and some might fall apart. What I believe is Allah has decided to make Pakistan an economic giant and that day is not far when on the approval of Pakistan, the nations of the world will base their decisions.