The post-Covid world will emerge with a paradox: a possible massive calling for state intervention to act both on the pandemic itself and on the recession, and at the same time, massive public debt which can hinder their possibilities for intervention in the long term.
It could be the case that states will take back power over the economy and nationalize several strategic companies — thus imposing a new way to govern those strategic assets. Nations could go through a self-locked phase to prepare for a more smart/sustainable open phase/globalization. States could also increase their sovereignty in many ways.
The major challenges are:
- How to recreate the autonomy of production? One possibility should be explored: diversifying production sites and no longer considering China as the world’s industry. Investigating the production capacities of countries such as South America, Turkey or Africa will certainly be considered. Europe will certainly reinforce production capacities inside Europe.
- How can we ensure a more sovereign health system? The objective will be to allow the country to have a health system more oriented towards research and local production. We can also foresee an increase in the number of health professionals and new laws to ensure that the full supply chain for the production of drugs and masks is under control.
- The European/American economy will suffer from this economic crisis. The question will be how do they ensure that consumers consume responsibly, i.e. European/American?