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The COVID-19 pandemic: A multidimensional crisis

Authors: Friedrich Welsch;

The COVID-19 pandemic: A multidimensional crisis

Abstract

The COVID-19 pandemic hit nations in all continents hard with the Americas standing out as the world ́s hardest-hit region. Government responses have been varying in timeliness, stringency, and results with outcomes being independent of regime type or political system but influenced by early action and the severity of containment strategies. The economic and financial impact of the pandemic has been estimated at a US$ 8,8 trillion decrease of the global GDP, more than the economies of Japan and Germany combined, and threatening the destruction of nearly half the global workforce livelihoods. Governments worldwide have announced unprecedented rescue packages to the tune of around US$ 10 trillion 40 percent of the global GDP. The pandemic hit Venezuela during a generalized humanitarian crisis and the health system in tatters. The real dimension of the pandemic is a mystery due to the opaqueness of the virus-related data published by the government. Due to the shortage of protective gear and disinfectants in run-down public hospitals, the virus-related death toll among medical staff is extremely high. The health authorities miss the minimum testing standards of the WHO. It is unlikely that our post-pandemic lives will return to their pre-pandemic characteristics, especially in the areas of learning, retail, tourism, and other services. The pandemic may be a catalyst for a new normalcy with teleworking heading toward a working-from- home-economy.

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
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