It’s been a tough week this and Coronavirus has dominated the headlines.
In this week’s wrapup, we will talk about why a COVID-19 vaccine is unlikely to hit the shelves this year, the Federal Reserve’s last gambit, how Universal Basic Income could be our saving grace, what a global recession would look like, and how people and businesses are rallying against the virus.
So, let’s get started, shall we?
The Race to produce a Coronavirus Vaccine
On Monday, we discussed vaccines and how long we might have to wait to get our hands on the first batch.
For starters, developing the drug isn’t a time-consuming process. The biggest challenge, however, is proving that it is safe and effective. The process of whipping up a vaccine, testing it on animals, humans and finally getting it approved can take years, not to mention millions of dollars. So by the time the drug hits the market, there’s a good chance the pandemic might be contained.
So is this an exercise in futility? Not at all, and we’ll tell you why here.
All hands on deck
On Tuesday, we spoke about how the Federal Reserve is fighting against the pandemic.
Coronavirus is pushing businesses to the brink, disrupting trade channels and breaking supply chains. However, the U.S. Federal Reserve is trying its best to keep the world from sliding into a protracted slowdown.
Cutting interest rates, keeping credit lines open, working with other central banks to maintain a steady supply of dollars — it’s all happening now. But how exactly will it help prop up the economy you ask? Find out here.
The case for Universal Basic Income
On Wednesday, we talked about Universal Basic Income (UBI).
UBI refers to periodic cash transfers to every citizen in a country. It’s kind of like the government giving you money, no strings attached. And not only do citizens get cash to spend, they also get to choose how they spend it giving them more flexibility.
Could UBI be our saving grace in testing times like these? Find out here.
What does it feel like when you are in a recession?
On Thursday, we spoke about the possibility of an impending recession.
A Recession is characterized by two straight quarters of declining real economic activity. But if we start witnessing a precipitous drop right now, the textbook definition doesn’t really help. If it feels like a recession, that’s all that matters.
So what would a hypothetical recession look like in India? Find out here.
How are businesses adapting to the Coronavirus Pandemic?
On Friday, we talked about how businesses and institutions are trying to maintain a sense of normalcy amidst the upheaval.
With a contagious virus doing the rounds, businesses are breaking down, people are confined to their homes and there’s disruption in almost every aspect of life. But all hope is not lost- because the human spirit endures.
And if you want to find out how companies and educational institutions are adapting to the virus here.
That’s it from us. Have a happy and safe weekend.:)