COVID-19 and the economy: a week in review

Published on March 23, 2020 by Wojciech Gryc

If you're reading this around March 23, you might be going through an emotional period.  At the time of writing, it appears this coming week will see havoc on the stock market.  Our goal here is to provide a list of events from the past week, so you're informed for the week ahead. 

Let's begin with economic stimulus numbers... These are BIG. 

The numbers above might seem abstract.  What do they actually mean in terms of our day-to-day lives? 

Many of these numbers are US-focused, but we’re likely to see similar metrics and changes across Europe and North America. 

...so let’s end with some good news…

While the economic uncertainty is immense, remember that infrastructure is still in place and will be restarted once the pandemic is over.  We’re seeing factories, stores, and restaurants reopening in China.  This includes Apple, Starbucks, and Volvo. 

As a result, there is a world after COVID-19 which we have the power and agency to influence.  This can be positive or negative.  See, for example, Yuval Noah Harari’s piece in the Financial Times. 

which we have the power and agency to influence.  This can be positive or negative.  See, for example, Yuval Noah Harari’s piece in the Financial Times.  More people are working remotely, and this might become a permanent change. 

People want to fund new innovations in biotech and pandemics, be it wealthy inviduals or governments (e.g., Canada).  I wouldn’t be surprised if post-pandemic, we have more movement and innovation in the biotech space as a result of the attention this space is now receiving. 

With the above in mind, this coming week will be difficult, unpredictable, and likely challenging.  We’ll keep our COVID-19 tracker updated, but also contact us if you have questions or news to share.