Many people have been asking what will happen to global and African economies after Covid-19. Given that it’s hard to foretell the end and real final game of Covid-19, it is also hard to predict the future, but here are the possible outcomes;
Many countries will be financially hit. Italy which was once the most affected country, was economically struggling before it was hit by coronavirus. Now the country is approaching recession if the situation continue up to May. The same case applies to Spain. But France, UK and USA, their cases are bit different, these countries hold so much vast modern empires where they can source the resources to heal their struggling economies. UK has Commonwealth nations where the key beneficiaries are UK, Canada, Hongkong, New Zealand and Australia. Apart from Commonwealth, UK is still holding hostage most of the African countries that were former British colonies. Kenya for example is contributing so much to Britain’s economy through British multinational corporations based in Kenya and farms and lands owned by the queen of England or British in Kenya. This same applies to France in West Africa and Caribbean. So this means these powerful nation will increase their influence in Africa through diplomatic, tricky trade manipulations or creation of conflicts (remember conflicts has been decades business to developed countries where their firms had been denied permits to operate in certain areas to conduct businesses or mineral minings, so they invests to militias to protect their entries and eventually their presence, selling arms to both conflicting factions is another benefits).
USA, ride globally in terms of its multinational corporations, bankers and arms selling to oil rich and other low income countries.
The only things that will guarantee the economic collapse of these countries, is protective measures their empires will take in the aftermath of Covid-19 if the situation goes up to the middle of the year.
In Asia, China will likely emerge as the sole winner given that they managed to win this coronavirus war which first emerged in Wuhan, Hubei province late last year, under the assurance that the second wave of coronavirus will not break.
1. Negative consequences
Africa is yet to prove the ability of handling crisis. Famine and droughts is a tasks the countries hardly hit by Covid-19 pandemic managed almost a century ago. This challenge has been ongoing in Africa up to date. This continent, despite vast natural resources wealth, is overwhelmed by external debts. Debts, poverty and among other challenges will automatically put this continent down to its knees if this viral disease hit like in Italy, Spain, China and USA. This will put this continent in a very vulnerable state, a subject to invasion by the powerful nations seeking to recover from Covid-19. The aftermath will be widespread poverty, violence and starvation among other man-made calamities.
2. Positive Consequences
From other point of view, Africa could emerge victorious. This could unleash the hidden unimaginable potential in Africa. If leaders could wake up and take responsibilities of the situation. This continent is the most youthful, meaning alot of potentials, on this global pandemic, Africa is the most advantageous. We could unlock the talents that will save the world not only from Covid-19 but also from other challenges facing the world.
We will prove all the apologists wrong!