This book captures the dynamic relationship between COVID-19 pandemic, crude oil prices and major stock indices as well as the crude oil prices and stock market volatility that have been caused due to outbreak of this pandemic. The pandemic has changed the world melodramatically and major world markets collapsed in the beginning, affecting major industries in an unprecedented way. The book will be useful to the researcher in the field of finance and economics, and policy makers both at government and private level, keeping in view the present state of economy throughout the world.
"This book’s great service is that it challenges us to consider the ways in which our institutions and systems, and the assumptions, positions and divisions that undergird them, leave us ill prepared for the next crisis."—Robert Rubin, The New York Times Book Review "Full of valuable insight and telling details, this may well be the best thing to read if you want to know what happened in 2020." --Paul Krugman, New York Review of Books Deftly weaving finance, politics, business, and the global human experience into one tight narrative, a tour-de-force account of 2020, the year that changed everything--from the acclaimed author of Crashed. The shocks of 2020 have been great and small, disrupting the world economy, international relations and the daily lives of virtually everyone on the planet. Never before has the entire world economy contracted by 20 percent in a matter of weeks nor in the historic record of modern capitalism has there been a moment in which 95 percent of the world's economies were suffering all at the same time. Across the world hundreds of millions have lost their jobs. And over it all looms the specter of pandemic, and death. Adam Tooze, whose last book was universally lauded for guiding us coherently through the chaos of the 2008 crash, now brings his bravura analytical and narrative skills to a panoramic and synthetic overview of our current crisis. By focusing on finance and business, he sets the pandemic story in a frame that casts a sobering new light on how unprepared the world was to fight the crisis, and how deep the ruptures in our way of living and doing business are. The virus has attacked the economy with as much ferocity as it has our health, and there is no vaccine arriving to address that. Tooze's special gift is to show how social organization, political interests, and economic policy interact with devastating human consequences, from your local hospital to the World Bank. He moves fluidly from the impact of currency fluctuations to the decimation of institutions--such as health-care systems, schools, and social services--in the name of efficiency. He starkly analyzes what happened when the pandemic collided with domestic politics (China's party conferences; the American elections), what the unintended consequences of the vaccine race might be, and the role climate change played in the pandemic. Finally, he proves how no unilateral declaration of 'independence" or isolation can extricate any modern country from the global web of travel, goods, services, and finance.
NEW YORK TIMES BESTSELLER “Uncontrolled Spread is everything you’d hope: a smart and insightful account of what happened and, currently, the best guide to what needs to be done to avoid a future pandemic." —Wall Street Journal “Informative and well paced.”—The Guardian “An intense ride through the pandemic with chilling details of what really happened. It is also sprinkled with notes of true wisdom that may help all of us better prepare for the future.”—Sanjay Gupta, MD, chief medical correspondent, CNN Physician and former FDA commissioner Scott Gottlieb asks: Has America’s COVID-19 catastrophe taught us anything? In Uncontrolled Spread, he shows how the coronavirus and its variants were able to trounce America’s pandemic preparations, and he outlines the steps that must be taken to protect against the next outbreak. As the pandemic unfolded, Gottlieb was in regular contact with all the key players in Congress, the Trump administration, and the drug and diagnostic industries. He provides an inside account of how level after level of American government crumbled as the COVID-19 crisis advanced. A system-wide failure across government institutions left the nation blind to the threat, and unable to mount an effective response. We’d prepared for the wrong virus. We failed to identify the contagion early enough and became overly reliant on costly and sometimes divisive tactics that couldn’t fully slow the spread. We never considered asymptomatic transmission and we assumed people would follow public health guidance. Key bureaucracies like the CDC were hidebound and outmatched. Weak political leadership aggravated these woes. We didn’t view a public health disaster as a threat to our national security. Many of the woes sprung from the CDC, which has very little real-time reporting capability to inform us of Covid’s twists and turns or assess our defenses. The agency lacked an operational capacity and mindset to mobilize the kind of national response that was needed. To guard against future pandemic risks, we must remake the CDC and properly equip it to better confront crises. We must also get our intelligence services more engaged in the global public health mission, to gather information and uncover emerging risks before they hit our shores so we can head them off. For this role, our clandestine agencies have tools and capabilities that the CDC lacks. Uncontrolled Spread argues we must fix our systems and prepare for a deadlier coronavirus variant, a flu pandemic, or whatever else nature -- or those wishing us harm -- may threaten us with. Gottlieb outlines policies and investments that are essential to prepare the United States and the world for future threats.
NEW YORK TIMES BESTSELLER • From the Pulitzer Prize-winning author of The Looming Tower—a riveting thriller and “all-too-convincing chronicle of science, espionage, action and speculation” (The Wall Street Journal). At an internment camp in Indonesia, forty-seven people are pronounced dead with acute hemorrhagic fever. When epidemiologist Henry Parsons travels there on behalf of the World Health Organization to investigate, what he finds will have staggering repercussions. Halfway across the globe, the deputy director of U.S. Homeland Security scrambles to mount a response to the rapidly spreading pandemic leapfrogging around the world, which she believes may be the result of an act of biowarfare. And a rogue experimenter in man-made diseases is preparing his own terrifying solution. As already-fraying global relations begin to snap, the virus slashes across the United States, dismantling institutions and decimating the population. With his own wife and children facing diminishing odds of survival, Henry travels from Indonesia to Saudi Arabia to his home base at the CDC in Atlanta, searching for a cure and for the origins of this seemingly unknowable disease. The End of October is a one-of-a-kind thriller steeped in real-life political and scientific implications, filled with the insight that has been the hallmark of Wright’s acclaimed nonfiction and the full-tilt narrative suspense that only the best fiction can offer.
"The Corona crisis and the Need for a Great Reset" is a guide for anyone who wants to understand how COVID-19 disrupted our social and economic systems, and what changes will be needed to create a more inclusive, resilient and sustainable world going forward. Thierry Malleret, founder of the Monthly Barometer, and Klaus Schwab, founder and executive Chairman of the World Economic Forum, explore what the root causes of these crisis were, and why they lead to a need for a Great Reset.Theirs is a worrying, yet hopeful analysis. COVID-19 has created a great disruptive reset of our global social, economic, and political systems. But the power of human beings lies in being foresighted and having the ingenuity, at least to a certain extent, to take their destiny into their hands and to plan for a better future. This is the purpose of this book: to shake up and to show the deficiencies which were manifest in our global system, even before COVID broke out.
A collection of insider accounts describing the organizational impact of COVID-19 In The Great Lockdown: Lessons Learned During the Pandemic from Organizations Around the Globe, expert strategists Shivaji Das, Aroop Zutshi , and Janesh Janardhanan deliver an insightful exploration of this once-in-a-lifetime event to unearth invaluable learnings for the future. Told through the experiences of CXOs at billion-dollar companies, star start-ups, and non-profits from around the world, the book chronicles the ups and downs of sophisticated organizations as they navigated the COVID-19 crisis through initiatives impacting people, processes, and technology. Revealing case studies contributed by the CXOs of companies spanning multiple geographies - from the USA to Iran, Uganda to Hong Kong, and multiple sectors – social media, technology, aviation, luxury retail, healthcare, etc. Incisive analyses of the techniques and strategies that worked—or didn’t—for organizations during the COVID-19 pandemic, covering the role and evolution of leadership, organizational culture, innovation and digitization Practical guidance for business leaders to apply to their own firms in times of great economic upheaval: the next pandemic, climate disasters, cyber-attacks The leaders contributing their organization's survival and revival stories include those from Julius Baer, SAP, Terumo, IndiGrid, Tapsi, Fonterra, Hornet Networks, Globalization Partners, beCuriou, GoGoX, Abacus Pharma, Real Wear Inc, SOS Children's Villages, Bangalore International Airport, and A Lange & Sohne. Perfect for executives, managers, and other business leaders, The Great Lockdown is an invaluable addition to the libraries of anyone interested in case studies of corporate resilience and endurance in the face of unprecedented economic challenges.
Caribbean countries have had to navigate multiple crises, which have tested their collective resolve through time. In this regard, the region’s landscape has been shaped by an interplay of vulnerability and resilience which has brought to the fore possibilities and contradictions. It is within this context that the effects of the COVID-19 pandemic must be considered. Interdisciplinary Perspectives on Covid-19 and the Caribbean, Volume 1: The State, Economy and Health provides a comprehensive, multi- and interdisciplinary assessment of the impact of the COVID-19 pandemic, using the Caribbean as the site of enquiry. The edited collection mobilises critical perspectives brought to bear on research produced within and beyond the boundaries and boundedness of conventional academic disciplinary divides, in response to the multi-dimensional crises of our time. The culmination of this collection offers a reimagining of our Caribbean contemporary futures in the hope of finding home-grown solutions, avenues and possibilities. This volume is divided into five (5) parts consisting of twenty-four (24) chapters and weaves together thematic strands that focus on governance, the macro and micro aspects of the economy, tourism and hospitality, business management and public health policy. Together, the chapters in this volume tell the story of the extent and effects of Caribbean governments’ response to the pandemic and the ways in which industries and organisations have had to pivot to survive and transform their management and operational practices.
This book covers the sustainability issues of a green environment towards economics and society in terms of alteration in industrial pollution levels, effect of reduced carbon emissions, changes in water bodies characteristics with respect to heavy metal contamination, monitoring of associated impact with respect to ecology and biodiversity, impact of reduced noise levels and air quality influences on human health, handling and management of biomedical waste. According to WHO, 80% of people living in urban areas are exposed to air exceeding safe limits. The advent of "sustainability‟ in development science has led planners to apply evolving notions of "sustainability‟ to the contemporary debate over how cities and regions should be revitalized, redeveloped, and reformed. Market allocation of resources, sustained levels of growth and consumption, an assumption that natural resources are unlimited and a belief that economic growth will „trickle down‟ to the poor have been its hallmarks. The recent advance technology helps to promote green and clean modern societies continuously. The Internet of things will be playing an important role in the upcoming years in environment protection and sustainable development. There is a focus on paradigm shift in the sustainable development for the green environment during the period of isolation of COVID-19. This is the moment for the mobilization against the climate crisis. The sudden fall in pollutants and subsequent blue skies signifies a dramatic shift for India and also other affected countries during this period. Fighting climate change requires a collaborative approach between all spheres of society unlike the former. It must heavily redirect resources towards local, sustainable activities, including education, health, sustainable agriculture and circular management of resources. The impact of COVID-19 pandemic which has resulted in the dramatic change in the different aspects of the environment. The global lockdown has led to a rejuvenation of nature, ecosystems, biodiversity. Even urban environments are discovering a degree of peace and serenity, which led to decrease in greenhouse gas emission.
European economies have been plagued by successive crises, from the Global Financial Crisis (GFC) to the COVID-19 pandemic, through to the economic and geopolitical instability in Ukraine. These events, the uncertainty they generate combined with dynamic technological progress and significant sociocultural changes, have profoundly modified the character of modern finance. Understanding what happened, what mechanisms worked, and the reaction of the banking sector, bank customers, and policymakers require an in-depth and structured analysis. This book critically assesses the impact of these events, notably the COVID-19 pandemic, on the performance of the banking sector in Europe and serves as a compendium of knowledge on recent changes in European banking from two perspectives: firstly, European banking transformation, analyzing the process of what has already taken place, in particular, the GFC and COVID-19 crises; secondly, the challenges facing the operations and strategic management of European banks. It identifies specific areas of impact on the activity of commercial banks and the determining factors that will shape the economic and financial condition of banks and their customers – borrowers – in the future. Risk management, particularly credit risk, is a key focus of this volume. Each chapter, implicitly or explicitly, address a variety of questions that can help the reader to understand the complex nature of the transformation of the banking sector. The book provides a structured reference for those concerned with the impact of volatility on the business models of modern banks. As such, it will find a broad audience among students, academics, banking, financial, business, and industry professionals, policymakers, and market regulators.
This unique and topical book assesses the impact of coronavirus disease (COVID-19) on a multitude of different aspects of human life. With chapters from researchers from a diverse selection of countries, this new volume, Exploring the Consequences of the COVID-19 Pandemic: Social, Cultural, Economic, and Psychological Insights and Perspectives, provides an insightful understanding of the challenges and impacts of COVID-19 on mental health, health care, gender issues, education, social institutions, and more. The diverse studies in this volume look at community responses and social challenges during COVID-19, covering topics such as social protection challenges and measures, the responsibility of the state to its citizens, and human rights and inhuman wrongs. The volume also examines health challenges and consequences of COVID-19, such as the impact on maternal and reproductive health, on mental health, the psychological effects of isolation, and more. The volume also includes studies on gender issues such as the plight of women migrant workers during the pandemic, feminist activism during quarantine, the impact on vulnerable groups of society, and how the pandemic affected interpersonal relations and behavior. The volume also takes a look at the roles of different organizations and professions and their reactions to the health crisis, including police, journalists and the media, and educators. The issues of the closure of schools and colleges and remote learning are also addressed. There is even a mathematical study of optimum budget allocation for social projects to control the COVID-19 pandemic. The enlightening volume provides an in-depth understanding of sociocultural responses to the COVID-19 and its consequences on society and will be of value to many sectors of society, including government and nongovernment organizations, policymakers and policy analysts, medical research organizations, schools and universities, healthcare practitioners, sociologists, and many others.
