The world will look different coming out of the COVID crisis than it was coming in as the pandemic speeds up the pace of reform, Eurasia Group & GZERO Media President & Founder Ian Bremmer says. The hope is it will be a “goldilocks crisis”, he says – big enough to force a reassessment of what is required by leaders, but not big enough to hamper a recovery.
“You do feel the beginnings of some of that, both domestically and internationally,” he said.
Speaking as part of the ‘Asia’s Economy: taking centre stage’ virtual event hosted by ANZ, Bremmer said the world’s recovery from the coronavirus is unlikely to herald a great new geopolitical or economic order. Instead, it will simply accentuate the rapid change which was already underway in the space - and markets will need to adjust accordingly.
“What coronavirus is doing is not creating a new world order but accelerating the trends we were already seeing, both domestically inside our societies, but also internationally and geopolitically,” Bremmer told attendees of the virtual conference.
He said the crisis caused by the pandemic would accentuate the impact of things like inequality and resulting unrest, as well as increasing technological disruption and the impact that would have on global employment.
“That displacement is going to speed up dramatically,” Bremmer said, noting the nature of his presentation was evidence of this. “I’m not getting on a plane to fly out to see you but we’re still doing the event.”