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Impact of COVID-19 on the global financial system

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Jun 03, 2020

Review the following articles published by the World Economic Forum (WEF) on the pandemic.

Impact of COVID-19 on the global financial system

As the human and economic costs of the COVID-19 pandemic have unfolded, the global financial system has been both a source of strength—with banks and fin-techs helping distribute support to small businesses and households in need—and an area of potential risk, with record levels of market volatility and growing concern around credit losses. Governments, central banks, regulators, and international organizations have moved rapidly to address the economic collapse and financial fallout, but questions remain around how policy should continue to evolve to preserve financial stability.

Energy Transition Index 2020: from crisis to rebound

The world’s energy transition has made slow and steady progress over the past five years, but the COVID-19 crisis risks derailing long-term progress. Will recovery and the shifting global energy order shape new opportunities for picking up the pace?

Winning the race for survival: How new manufacturing technologies are driving business-model innovation

As most manufacturing firms continue to realize their revenues through traditional channels, COVID-19 has created the need for rapid and radical innovation in both business and operating models. The future belongs to those who can manage uncertainty and innovate rapidly.

How the fourth industrial revolution can help us beat COVID-19

As global COVID-19 cases continue to rise, the unmatched connectivity that defines our era serves as both bane and blessing. Our interconnected livelihoods allow for the rapid spread of both disease and cure. The Fourth Industrial Revolution gives us the tools we need to battle this global threat. If we do not have the tools of tomorrow, we must have the leadership of today.

5 ways collective intelligence can help beat coronavirus in developing countries

The COVID-19 pandemic has so far had the greatest impact in developed economies with strong health systems. And the results have been terrifying. But the epicenter of the pandemic could soon shift again – to low and middle-income countries, including those already fragile after years of conflict. Many are woefully unprepared.

Emerging priorities and principles for managing the global economic impact of COVID-19

Governments and central banks in the economies most affected by the COVID-19 pandemic have rapidly mobilized to keep their economies on “life support” while societies fight the most dramatic health crisis of our time. Where is the economy heading in the current situation? How effective are the policy responses being deployed? What priorities and principles should guide actions by public and private sector leaders in response to the unfolding economic crisis?

Workforce principles for the COVID-19 pandemic: Stakeholder capitalism in a time of crisis

While there currently is a significant focus on the public health and economic impact of the COVID-19 pandemic, the workforce and societal implications are no less profound. The guiding principles and the four workforce management imperatives outlined in this document are a preliminary response to the unfolding crisis. They are intended to serve as a tool for Chief Human Resources Officers (CHROs) and other business leaders. While businesses may need to adjust measures according to different policy environments, the concept of stakeholder capitalism can provide a framework for a responsible course of action at this pivotal moment.

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