Offshoots of the post-pandemic world you might observe

As the process of vaccination is in progress now, the era of pandemic seems to recede in its influence, if not getting eliminated altogether. But the resultant world no longer seems to be the same or even similar. A huge doses of perfections or imperfections will be instilled in the veins of the world, the efficacy of which, will only be tested in due course of time. Some of the perfections/imperfections you might observe are some of the following.

Enhancement in the health consciousness

Whether a rich individual or the poor individual at the micro-level, or the developed nation or the developing nation at the macro-level, health consciousness has attained the center-stage from that of the position of the periphery. The post-pandemic world will observe the increased expenditure on health services. There will be a rise in research-oriented activities in the future. More and more governments will give a bigger share of the pie in the research in the health-oriented sectors.

The virtual world will stand parallel to the real world

Even at present, the presence of the virtual world is a ubiquitous phenomenon.  But the future scenario will see a spurt in the virtual machine. This will be corroborated by the increment in virtual knowledge. Financial inclusion will be expanded rapidly. The world will belong to those, who dominate the virtual world. Financial currency like cryptocurrency will emerge as a strong competitor to the cash currency and in some instances, the former will replace the latter. The virtual institutions will stand in parallel to the real institutions. On the flip side, the concern with respect to the negative side will turn out to be manifold, as it will surely attain the magnitude of the multiple dimensions.

The primacy of the virtual spread over the geographical spread

In consonance with the previous outcome, there would be the dominance of the virtual spread which will push the geographical spread at the back seat. The business empires and the social circles that have wider and deeper penetration over the internet will stand to gain a lot in comparison to otherwise. The geo-political scenario will attain a new definition in the post-COVID scenario where the technological power will replace military power. The vast geographical spread of the nations will restrict themselves to one computer or server.

A more connected world in the era of protectionist world

Globalization has led to the emergence of the interconnected world in the past and for a few years, there has been a rise in protectionism, the case of the US-China trade war, is a case in point. Nonetheless, the world would be more interconnected in the post-pandemic era, owing to the fact that the impact of the future eventualities will not just be restricted to the single nation or the continent and furthermore, the containment of these eventualities will not be even possible for a single nation or continent. The partnership at the global level needs to be reconciled for meeting out any unseen eventuality in the future.

Cyber-warfare will be a real threat

Cyber-warfare will move in parallel to the traditional warfare of not replacing the latter altogether. As the virtual world will become more widespread, stemming from this fact would be the rising concerns of the virtual threats that will manifest themselves in the real existential threats of the individual or the community or the nation itself. Such threats will make the countries compulsorily to come and participate together. There will, therefore, emerge the rising significance of the global communities like the G-20, EU, etc. in comparison to the individual nations. The global identity will gain prominence over individual identity. 

About the author

vipal

My name is Vipal Bhagat, going to be doctorate in applied economics. My aim is to analyse and interpret the current economic happenings around us, according to the core and basic principles of economics.

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