Advent of ‘Economic Paradigm Shift’ and 5G during the Post-COVID19 Revival Phase

5 Pages Posted: 22 May 2020

See all articles by Whms Samarathunga

Whms Samarathunga

Department of Tourism & Hospitality Management, Rajarata University of Sri Lanka

Prageeth Weerathunga

Rajarata University of Sri Lanka

Date Written: May 15, 2020

Abstract

This conceptual article is aimed at evaluating the COVID19 impacts on the global economy and to postulating an ‘economic paradigm shift’. We argue that the existing economic, political, and trade principles have been challenged due to the global pandemic issue. We also compare the COVID19 impact on Western countries and Eastern countries with their control mechanisms. The emerging of new economies is due to the travel restrictions and disrupt of the global economies are discussed that pave a gateway to the economic paradigm shift. The article finally assesses the advent of 5G technology and its implications to face any future health threats that will lead to the next economic paradigm shift in the modern world.

Keywords: COVID19; economic paradigm shift; economic failures; post-COVID19 economy; 5G technology

JEL Classification: Z13, Z32

Suggested Citation

Samarathunga, Whms and Weerathunga, Prageeth, Advent of ‘Economic Paradigm Shift’ and 5G during the Post-COVID19 Revival Phase (May 15, 2020). Available at SSRN: https://ssrn.com/abstract=3601484 or http://dx.doi.org/10.2139/ssrn.3601484

Whms Samarathunga (Contact Author)

Department of Tourism & Hospitality Management, Rajarata University of Sri Lanka ( email )

Mihintale, 10300
Sri Lanka
+94718134115 (Phone)

Prageeth Weerathunga

Rajarata University of Sri Lanka ( email )

Department of Accountancy and Finance
Faculty of Management Studies
Mihintale, North Central
Sri Lanka
+94775864269 (Phone)

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