The Economic Strategies of the Great Powers to Response to the Covid-19 Pandemic
Keywords:
impact of covid-19; economic crisis; great powers influenceAbstract
Every country has its own strategy in order to response to the covid-19 pandemic. Their main
concerns are to manage this situation on the one hand, from a medical point view, and, on the other hand, to
solve the economic issues, which may occur due to this pandemic. The responsibility of the great powers is
enormous from two perspectives; first, most countries are influenced by their economic competition, and
second, the great powers try to respond firmly to this pandemic in order to maintain their world economic
position. The purpose of this paper is to compare the strategies of the great powers to response to this
problematic economic situation. This comparison is interesting because these strategies can modify the way
that the great powers influenced the global economy.
References
Alon, I. (2020). Covid-19 and International Business: A viewpoint. Fortune Institute of International Business Review, 9(2),
pp. 75-77.
Andries, A., Ongena, S., Sprincean, N. (2020). The Covid-19 Pandemic and Sovereign Bond Risk. Swiss Finance Institute
Research Paper Series, no. 20-42, May.
Beck, T. & Wagner, W. (2020). National containment policies and international cooperation. CEPR Discussion Paper no.
DP14668, April 2020.
Carafano, J. J. (2020). Trump`s New Marshall Plan. The Heritage Foundation, 4th May [online]. Available at:
https://www.heritage.org/defense/commentary/trumps-new-marshallplan?
utm_source=facebook&utm_medium=social&utm_campaign=thf-fb (Accessed: 8th May 2020).
Doescher, T. (2020). Unemployment soars to 14.7% as America loses 20.5 million more jobs. The Heritage Foundation, 8th
May [online]. Available at: https://www.heritage.org/jobs-and-labor/commentary/unemployment-soars-147-america-loses-
-million-more-jobs?utm_source=facebook&utm_medium=social&utm_campaign=thf-fb (Accessed: 8th May 2020).
Eichenbaum, M.S., Rebelo, S., Trabandt, M. (2020). The macroeconomics of epidemics. National Bureau of Economic
Research, NBER Working Paper Series no. 26882, Cambridge, April.
Gascon, C. (2020). Covid-19: Which Workers Face the Highest Unemployment Risk? St. Louis Fed on the Economy, 24th
March [online]. Available at: https://www.stlouisfed.org/on-the-economy/2020/march/covid-19-workers-highestunemployment-
risk (Accessed: 26th March 2020).
International Monetary Fund (2020). Policy responses to covid-19. Policy Tracker, July 2020 [online]. Available at:
https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (Accessed: 2nd July 2020)
Ludvigson, S., Ma, S., Ng, S. (2020). Covid19 and the macroeconomic effects of costly disasters. National Bureau of
Economic Research, NBER Working Paper Series no. 26987, Cambridge, April.
Rugman, A. & Oh, C. (2008) `Friedman`s follies: Insights on the globalization/regionalization debate, Business and Politics,
(2), pp. 1-14.
The European Commission (2020a). Joint European Roadmap towards lifting COVID-19 containment measures. Official
Journal of the European Union, C126, 17 April.
The European Commission (2020b). Jobs and economy during the coronavirus pandemic [online]. Available at:
en (Accessed: 24th March 2020)
Walters, R. (2020). Why America`s Economy Will Recover Before China`s. The Heritage Foundation, 13th June [online].
Available at: https://www.heritage.org/markets-and-finance/commentary/why-americas-economy-will-recoverchinas?
utm_source=facebook&utm_medium=social&utm_campaign=thf-fb (Accessed: 14th June 2020).
Wardrip, K. & Tranfaglia, A. (2002). Covid-19: Which Workers Will Be Most Impacted? Federal Reserve Bank of
Philadelphia, April.
Downloads
Published
Issue
Section
License
Copyright (c) 2021 Sergiu-Lucian Sorcaru, Stefan-Catalin Topliceanu, Alisa-Mihaela Ambrozie
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
You are free to:
- Share — copy and redistribute the material in any medium or format
- Adapt — remix, transform, and build upon the material
- for any purpose, even commercially.
- The licensor cannot revoke these freedoms as long as you follow the license terms.
Under the following terms:
-
Attribution — You must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.
- No additional restrictions — You may not apply legal terms or technological measures that legally restrict others from doing anything the license permits.