All publications of Palak Chhabra . दिल्ली , भारत
The Covid Chaos: Social and Economic Impact
-By Palak Chhabra
While we were all cocooned in our daily lives, making it from home to workplace amid cars rushing by, an unprecedented hush of an unusual phenomenon hit the world creating havoc, causing us to be where we are today. With increasing vulnerability, nearly half of the world's 3.3 billion people have come to the verge of losing their livelihood. Developing countries are at a greater risk of having to combat issues like poverty and migration as corona has made it even worse. Even before we could realize and get acquainted with, lockdown, social distancing and wearing masks became the 'new normal' we were made to settle with.
Public health, tourism and Information Technology saw the plunge coupled with a slow down in the manufacturing process and people being laid off from their high paying jobs feeling miserable. Covid has left people in doldrums with economic, social and political insecurities at their peak. At the same time, it has made us realize the relevance of going digital by introducing us to the world of technology, particularly in educational institutions. Gradually, indulging in festivities became a thing of the past with people stuck in lockdown and also some in quarantine. From restrictions in travel movements to the burden on the existing medical system, the pandemic has laid bare its fragility and made the world much aware of working on its disaster management structures. As India emerges as a global pharmacy having gifted the world a dose of its goodwill, the win over the corona race is not yet over.
Corona, being termed as a biological weapon made by China has a political and diplomatic angle to it, however, the impact it has created worldwide is enormous with one-fourth of Italy holding a rally of dead bodies. Witnessing a spike in the number of cases, global solidarity and pooling in the required expertise of countries can aid us to come out of this vicious circle. From rethinking climate change to formalizing the informal economy are some steps in the right direction. We can only hope for the world to heal with international leaders in place to combat such a menace and wish that our ‘new normal’ is a better one.
The covid chaos has disrupted the economy and decimated jobs to such an extent that it has become a herculean task to bring the economic cycle back to a normal trajectory. But having faced this new global common, we ought to devise new ways and adopt appropriate technology like that of Artificial Intelligence to bounce back faster, for which support of developed countries is needed. The pandemic has tested our patience to a greater extent and left us with no choice but to exert certain resilience and support towards society in general.
India-China, COVID and Beyond
By Palak Chhabra
As the rest of the world languishes under the corona pandemic, the next major question relates to the shift in the international dynamics and with this India’s foreign policy towards China. From changes being made in India's FDI policy to new opportunities and challenges being encountered in India's Neighborhood First Policy, the scenario is set to change in unexpected ways.
Investors from India's neighboring countries will now need to seek the Indian government's approval before taking forward their investment. The decision came after it was reported that China appears to be trying to target strategic locations to acquire distressed assets during the pandemic. The move will also aid to keep a check on China's cheque book diplomacy initiatives. Not only India, but countries in the EU, Australia and Germany have tightened their foreign investment rules.
Meanwhile, foreign companies are increasingly looking at India as a viable investment destination as many investors seek to exit China following the COVID outbreak.
The rampant pandemic also gives India a chance to show its heart by passing on health services to its neighbors’. Nations such as Sri Lanka, Bangladesh and Nepal will all need funding and investment to revive their economies. In such a scenario, India should not miss the chance of identifying Indian investors to facilitate project-funding in neighboring countries.