A call for Global Economic Cooperation

It has passed more then two months since the Covid-19 had started spreading, and we are now realising how much the healthcare problem is going to affect the global economy. The recent decisions of restricting the virus spreading adopted by many and many States looks reasonable, but it seems as if the not-cooperative adoption of different kinds of political solutions will probably affect the Global economy system stability.

The different range of direct actions applied in different territorial contexts are leading to an obvious expected results mismatch among all over the States which have to deal with this situation: some Countries decided to act immediately with strong measures, such as closing entire areas to avoid the risk of infection increasing, as controlling any people coming from Countries supposed like "risk areas", as suspending flight connections with Countries with an high probability of covid-19 infection risk , and then other Countries which are increasing now the use of these kinds of measures, despite they had decided to approach this situation with lighter measures at the beginning.

There is no action supposed to be too restrictive or useless in order to fight against a global problem such as the spread of this virus: even if this illness looks less dangerous than some virus we had to deal with throughout the Human Kind history, we should recognize there is no middle way to win this battle. The real question is: "How can we act the day after of the winning in order to re-set the right balance in the weak global economic system nowadays?"

Taking a political decision to safeguard your own-State Public interest it's a reasonable point, but sometimes we forget we are part of a Macro-economic system where everybody is connected with the others. Most of the biggest economies live and increase(or decrease) not only due to its own productivity or export, but also due to the relation with other economical subject's productivity and export. Where is someone who has a "Debt", there is someone else who owns his "Debt": This economy system was built on "connected economies", both in the financial economy and the real economy. If we take it for granted, it looks clear how much is important to find political and economical tools to help the national economies to survive inside the bigger scheme of international cooperation, that is the only way to provide an effective development of the global economy.

Which economical Sectors really suffer most from this crisis? The Healthcare system, the Tourism industry, the Import-Export Sector, the Education system (especially the study-exchanges among countries), the Transportation system and goes on. Even if the lack of people and goods movements represents the problem which affects on the real economy now more clearly, we should not forget that this current fragmentation of rules and economical policies(adopted differently by many States) will lead to a more complicated situation in the next future: these different prevention policies is going to create a mismatch among national economies. Many enterprices in the Countries affected bu Covid-19 have been loosing not only a lot of money, but also contracts and agreements which will be difficultly replaced by new deals.

So, the last question is: "is really convenient to let the global market adjusting this mismatch by itself?" As far as i know, the market is not able to correct its deviations in a balanced context, even more in such critical context. Nonetheless i think that a real international cooperation on this topic would be the right way to find an extraordinary measures package to be adopetd globally in order to help the private sector to overcome this critical period through joint actions able to ensure both the global economic stability and the most fragile economies' protection.