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There is a prospect of an overall decline in trade turnover and economic activity in the world, notes Andrei Belyaninov, Secretary General of the Eurasian Peoples' Assembly, Doctor of Economics and Political Science.
Now the world is undergoing a very serious change in social order and economies, provoked by the coronavirus pandemic, the speaker noted during a video bridge at the Sputnik Press Centre.
“Economies are different, governments are different and everyone has specific tasks, but the fact that economies are in varying degrees of stagnation is obvious. The fight against coronavirus is going on differently for everyone. It began in China. And the medicine of European countries, that would seem to be at the top, turned out to be unprepared for such attacks that have now unleashed on humanity”, - says Belyaninov.
The speaker also spoke about the prospects for the further spread of the coronavirus. In his opinion, “this disease will last for a long time, and one way or another, but everyone will get sick, or the vaccine should appear in some huge quantities to prevent this disease. But now the vaccine is clearly not enough”.
At the same time, according to Belyaninov, the social order in the world is obviously changing. Even children, schoolchildren and students, who found themselves “at distance”, are forced to communicate via the PC screen. Such communication is certainly flawed. This cannot but affect the economy, the expert believes.
“There is a prospect of an overall decline in trade turnover and economic activity in the world. Prices for steel and coal are the indicators of this process, we know. China, the world's first economy, has long become the flagship of this, and this is a serious indicator that should be paid attention to. Will it affect inflationary processes? Of course it will,” - he notes.
Economic prospects for 2021 and more distant prospects can be assessed based on the results of the outgoing year by looking “at the GDP in the coronavirus version,” - Belyaninov said.
“For a year we have been living in overstrain, inflation indicators are still normal, but the economy is an inertial process, if we do not lay down a slowdown in the growth rates of our economies, it will naturally affect the trade turnover of our countries,” - Belyaninov sums up.