President of the World Health Organization (WHO) Tedros Adhanom Ghebreyesus He said that the threat of a new epidemic cannot be ignored. According to him, the new virus may be more dangerous than COVID-19. He spoke about this at the WHO annual meeting in Geneva.
PhD in Economics, Investment Analyst Alexander Razuvayev in the author column FAN He predicted a possible scenario for the economic situation in Russia.
A new epidemic will lead to a recession. Column of Alexander Razuvaev
Some believe that COVID-19 is a man-made virus developed by the Americans against China. Bacteriological weapons have been known since ancient times. More Timur threw the plague dead over the walls of the Italian fortress. We will never know if Americans are involved in COVID-19, but of course there is no smoke without fire.
The new epidemic is a double threat to Russia. In this case, it is very likely that the global economy is facing a recession, which in turn will lower oil prices. Plus, Russia will face rising healthcare costs. Half of the international reserves of the Central Bank of Russia were frozen by the West. And the lives and health of Russians cannot be trusted to persuade the G7 countries to ease sanctions. At the same time, if anyone remembers, at the beginning of 2020 Russia greatly helped Italy in the fight against COVID-19.
The traditional view is that the beginning of modern capitalism in Europe stemmed from the famous “plague of the fourteenth century”. The new pandemic will definitely change the global economy drastically. The world will finally be online. Commercial real estate demand will fall sharply. Central banks around the world will lower interest rates.
At the same time, as in the case of COVID-19, the US and EU are likely to close the budget deficit with a printing press. In other words, the dollar and euro will again come under strong inflationary pressure. Confidence in them will decrease, the demand for gold will increase significantly and, accordingly, the price of the precious metal will increase. Gold is probably the best investment in these turbulent times.
I am Annabelle Sampson and I work for The News Dept as an author for their news department. My main focus is on economy news, but I also cover other topics such as business, finance, and current affairs. My writing has been featured in prominent publications such as The Wall Street Journal, Forbes Magazine, and the Financial Times. I have a passion for learning more about economic trends and understanding how they affect businesses of all sizes. To stay up to date with the latest developments in the field of economics, I make sure to keep track of reliable sources like Bloomberg News or Reuters. In addition to my writing work, I often provide consultation services related to economic matters for clients both large and small.