Advent of ‘Economic Paradigm Shift’ and 5G during the Post-COVID19 Revival Phase
5 Pages Posted: 22 May 2020
Date Written: May 15, 2020
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: Suggested Citation