COVID-19: The New Challenges and Restructuration of the World Economy in Century XXI

Abstract

This electronic monograph is divided into ten chapters. The objective of this electronic monograph is to show the lessons and challenges of a pandemic contagious diseases on the economic performance of any country and the world economy. This first chapter explains each chapter of this electronic monograph.

The second chapter intends to establish conceptual foundations of analyzing the economic dimensions of regional or global emerging and endemic infectious disease events. The Integral Massive Infections and Contagious Diseases Economic Simulator (IMICDE-Simulator) attempts to capture all symmetrical and asymmetrical strategic graphical movements in real space and time. The model investigates the epidemic novel coronavirus COVID-19 identified in Wuhan City, Hubei Province, China.

The third chapter analyses the impact of Globalization as one of the main reasons of the fast spread of COVID-19 worldwide. We divided globalization into three large pillars how Globalization works worldwide followed by: (a.) the institutional, legal, and political approach of Globalization; (b.) the massive transportations systems and the development of information communication technologies (ICT’s); (c.) the free trade liberalization and labour mobility.

In the fourth chapter, we evaluate the impact of COVID-19 (Coronavirus Disease 2019) on four strategic sectors - i.e. tourism, air transportation, international trade, and electricity consumption of the Chinese economy. To do so, we develop and apply a new model - the economic crisis from massive contagious infection diseases simulator (ECMCID-Simulator). The simulator deploys a macro-dynamic analysis under different possible scenarios to evaluate the impact of a massive contagious infection disease on the short-run economic performance of a country.

The chapter fifth formulates an analytical framework to understand the spatial temporal patters of of epidemic disease occurrence, its relevance and implications to economic activity, their impact on the vulnerability of different populations, and to develop public health policy decisions on disease prevention issues. The chapter suggests a paradigm shift: a new multidimensional geometric approach to capture all symmetrical and asymmetrical strategic graphical movements in real space and time.

The sixth chapter graphically demonstrates the patterns of economic recession from any epidemic in the world, i.e. the COVID-19 contagious infectious disease. This can generate economic waves on different markets (countries or regions). This chapter evaluates the way in which an economic recession from the COVID-19 contagious infectious disease damage can simultaneously affect five different markets economic hotspots viz. East Asia (Japan, South Korea, Taiwan, and Hong Kong), China, ASEAN, United States and the European Union (EU).

The chapter seventh intends to establish conceptual foundations of analysing the economic dimensions of regional or global emerging and endemic infectious disease events such as the case of COVID-19. The COVID-2019 Global Economic Impact Simulator (the COVID-2019 -GEI-Simulator) attempts to identify the COVID-19 transmission parameters and forecast its trajectories.

According to chapter eighth the damage of COVID-19 from China to the rest of the world economy is costly and countless. The levels of COVID-19 contagious and death cases are increasing exponentially worldwide. Therefore, this document proposes a new form of compensation (or payoff) from China to all countries affected by COVID-19 around the world. This new form of compensation system can help to solve partially the deep damage of COVID-19 through the application of a tariff to all Chinese products and services. This new tariff is entitled "The Massive Infection Epidemic Diseases Economic Losses Tariff (MIEDEL-Tariff).”

The chapter ninth proposes the national pandemics contingency plan for any country based on the application of the minimum food, water & medication storage for a massive pandemic quota (ψ-Quota). Consequently, the main objective of the ψ-Quota is to calculate the approximate amount of food, water, and medicines storage amount annually in case of a possible massive pandemic crisis.

Finally, the chapter tenth shows the large damage of COVID-19 on the world economy that is forcing to a deep restructuration domestically and internationally of our economies from now. This chapter suggests a Post-COVID-19 reconstruction model is called “The National Domestic Economic Auto-Sustainability Model (NDEAS-Model).”