Redirecting resources to promote post-pandemic growth

摘要

With the extreme disruption caused by the COVID-19 pandemic, the systems of optimization in many industries profoundly failed, Before the epidemic, much of the global business community was focused on becoming lean by widely deploying production efficiency methods. Now the COVID-19 pandemic has revealed how precariously intertwined our economic systems and our lives really are. Supply chains across much of the global economy fractured. Many millions of workers have been furloughed or fully laid off. Some airlines reduced their international flight schedules by up to 95 percent. [1] Overall, in its "best case" scenario for 2020, the Organization for Economic Co-operation and Development (OECD) projects a global GDP decline of 7.5 percent in 2020. That decline could reach almost 10 percent if a second pandemic wave hits later in the year, which currently seems highly probable. [2]