COVID-19, APAC, and the Rest of the World
Welcome to The Stream, a newsletter curating cultural, lifestyle and industry trends from across the globe, with a particular focus on Japan / APAC.
Six Ways Corona Virus is Changing Our World
Azeem Azhar, the brilliant mind behind the Exponential View, has published a blog post where he predicts six ways that the Corona Virus epidemic is changing our world.
The uniting theme seems to be one of atomization and isolation - people, out of fear of contracting the infectious disease, are working from home, subsequently becoming more reliant on digital technology for interaction. Self-sufficiency, especially around food and energy, is likely to be on the rise as well.
Global supply chains are reacting to the stalling of Chinese manufacturing, recognizing that relying on a single source for manufacturing is no longer a workable strategy - local manufacturing and optimized, vertical farming are, as a result, going to become increasingly important.
The Quarantined Consumer: How COVID-19 is Changing Consumer Behavior
A Nielsen insight article has identified six ways in which COVID-19 is going to affect consumer behavior. Probably the biggest takeaway from this report is its fourth threshold, that of “quarantined preparedness.”
As the percentage of people diagnosed continues to increase, communities are likely to localize and isolate, becoming more dependent on online shopping. Prior to this phase, retailers will have to prepare for the health-minded buying sprees and pantry stock-pilings that will accompany consumers’ preparation for a quarantined lifestyle.
And when consumers finally emerge from isolation, most will have a renewed cautiousness about their health and a cemented habit of online shopping.
How Long Before Life Goes Back to Normal?
The world economy is shutting down and there’s no end in sight. The BBC’s James Gallagher tells us of three ways that we make it out of the pandemic: by developing a vaccine, by developing an immunity to the disease by sheer exposure, or by permanently reshaping society. At best, a vaccine is 12-18 months away.
Although governments have paved the way for experimental testing, there’s no guarantee that the vaccine will be successful. Waiting to develop an immunity, the UK’s temporary strategy, would take even longer. Gradually exposing only a small minority of the population to the virus, while somehow still managing to keep them distanced from the rest of society is a long and arduous process that is anything but quick.
Finally, there’s massive behavioral change - distancing and isolating ourselves from the rest of the community until the whole thing blows over, hoping for an unlikely early victory over the virus.
Countries are, of course, opting for all three but, as more restrictions are enforced, one thing is becoming abundantly clear: many countries lack an exit strategy and are without a path to normalcy.
Building the New Post-Covid Economy
Only a crisis can lead to real and radical change, and the crisis of Covid-19 is no different. Economist James Meadway, writing for Novara Media, predicts a complete upheaval of the modern economy. The change, of course, could be for the better, but also for the worse. All we know for certain is this: nothing will ever be the same again.
The coronavirus, by flooding healthcare services and forcing millions into quarantine, threatens the very foundations of the capitalist system - the labor market. If workers can no longer work, then the entire global economy grinds to a halt. And if the latest estimates are true, that the virus will likely last twelve months before it peaks and subsides, then governments will have to do a lot more than offering meagre stimulus packages to rescue their cliff-dangling economies.
With people demanding the suspension of payments for rents and mortgages, the bailing out of small businesses and the insuring of worker wages, the pandemic is forcing us to redefine the proper role of government in the market and in private life.
The next few weeks will constitute our first few steps into the post-corona world - we might want to start off on the right foot.
There’s Nothing Normal About Covid-19
At the hands of Covid-19, humankind faces an incredible crisis. Businesses are closing, people are isolating and, every day, more and more restrictions are being put in place. Governments around the world are undertaking radical measures in hopes of reigning in the virus.
Journalist Sasha Abramsky, in a haunting piece written for The Nation, mourns the loss of normalcy. The short essay is a stark reminder of the sudden implosion of everyday affairs, of the sudden loss of everything familiar, of how decisive this time is for our society.
The decisions we’ve had to make today, the decisions we will have to make for weeks hereafter will likely shape the world we live in for years to come. Abramsky, in his call for calm rational civility, reminds us that, in times of crisis, it’s the people around us, our friends, families, and neighbors that can keep us secure.
Photo Imagery by Ryan Stone on Unsplash