In a state of flux - Lawrence Zammit
When talking with someone earlier on this week, he said that we are in a state of flux. It set me thinking and I did come to the conclusion that the global geopolitical economic situation (I know that is quite a mouthful) is indeed in a state of flux. Uncertainty reigns as to how things will develop on a number of fronts. This will then have a certain impact on the economy. What impact this will be is still unknown. We could start with the coronavirus. It is now becoming recognised that the term ‘post-pandemic’ should not be taken to mean when the coronavirus will be no more, as this is most unlikely to happen. Certain countries are already expecting the next wave once the cold weather sets in. As such ‘post-pandemic’ is being taken to mean when we get used to living with it, like we have got used to living with what we call the ‘common cold’. When we do get used to live with the coronavirus, how will this affect our social behaviour and hence our economic behaviour? How will consumer habits change in a definitive way? How will our travel habits and preferences change? The international political situation does not present much certainty either. We can take Germany as an example.