How will Covid-19 affect the economy 1 year from now?

tarriqq

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I am thinking that this is going to change the world's economy. Right now governments are pumping trillions of dollars into their economies all over the world. I am thinking that many countries including the United States are on that "Novacane" right now. When government assistance stops or if it stops. Many people in the United States are going to suffer. Many houses will be lost etc... many jobs I think are NOT coming back. Think about it if there was not corporate welfare, social security, etc... in the United States how many people would be homeless. Look at how many people are homeless already and compare any sizeable city in the United States to Santo Domingo or Santiago. I am not sure what's going to happen in Republica Dominicana a year from now, but it is going to be very different in my opinion.
 

CristoRey

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Apr 1, 2014
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I am thinking that this is going to change the world's economy. Right now governments are pumping trillions of dollars into their economies all over the world. I am thinking that many countries including the United States are on that "Novacane" right now. When government assistance stops or if it stops. Many people in the United States are going to suffer. Many houses will be lost etc... many jobs I think are NOT coming back. Think about it if there was not corporate welfare, social security, etc... in the United States how many people would be homeless. Look at how many people are homeless already and compare any sizeable city in the United States to Santo Domingo or Santiago. I am not sure what's going to happen in Republica Dominicana a year from now, but it is going to be very different in my opinion.
Not trying to take the conversation into politics but both of these countřies are in middle of very important ełections and I strongly suggest both elect presidenťs who understand business and economics... otherwise things will be a lot worse in four years.
 

drstock

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Oct 29, 2010
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Presidents don't have to be brilliant economists or business men. They have to be all round leaders, surrounded by the best people available. Electing a President just because he has made a lot of money as a businessman can have very bad consequences.
 
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Caonabo

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Presidents don't have to be brilliant economists or business men. They have to be all round leaders, surrounded by the best people available. Electing a President just because he has made a lot of money as a businessman can have very bad consequences.
This is but one opinion, contrasting the other poster's view point.
This is why free, democratic elections are held in successful nations.
 

johne

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Very true Cristo...... absolutely true

Seems to be the wrong leaders at the wrong (or right) time...
really bad circumstances.....
I thought CR said he didn't want to take it to the political level. Sorry to say you did that by stating "wrong leaders". Maybe I reading too much into it? OP is opinion and I agree with him. But he was neutral.
 
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johne

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Presidents don't have to be brilliant economists or business men. They have to be all round leaders, surrounded by the best people available. Electing a President just because he has made a lot of money as a businessman can have very bad consequences.
True. Key word in your post is "Can" have.....
 

william webster

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Jan 16, 2009
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Not trying to take the conversation into politics but both of these countřies are in middle of very important ełections and I strongly suggest both elect presidenťs who understand business and economics... otherwise things will be a lot worse in four years.
Seems to me this quote advocates changing the person in authority - aka the Leader

I thought CR said he didn't want to take it to the political level. Sorry to say you did that by stating "wrong leaders". Maybe I reading too much into it? OP is opinion and I agree with him. But he was neutral.
The main point is the public is not being well served when the decisions for the public are made for political reasons
Because of the upcoming vote....
 

Bundel2014

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Feb 11, 2017
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The European/Canadian view is slanted towards socialism and away from conservatism,a point well taken on this forum.
 

CristoRey

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Seems to me this quote advocates changing the person in authority - aka the Leader



The main point is the public is not being well served when the decisions for the public are made for political reasons
Because of the upcoming vote....
Never mind.
 

CaribeDigital

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Sep 5, 2014
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I am thinking that this is going to change the world's economy. Right now governments are pumping trillions of dollars into their economies all over the world. I am thinking that many countries including the United States are on that "Novacane" right now. When government assistance stops or if it stops. Many people in the United States are going to suffer. Many houses will be lost etc... many jobs I think are NOT coming back. Think about it if there was not corporate welfare, social security, etc... in the United States how many people would be homeless. Look at how many people are homeless already and compare any sizeable city in the United States to Santo Domingo or Santiago. I am not sure what's going to happen in Republica Dominicana a year from now, but it is going to be very different in my opinion.
Interesting topic! A huge crisis is coming, with or without COVID-19, and the DR will be affected, too.
There are two main sources of revenue here: tourism and remesas.

The nice thing about tourism is that could come from anywhere. Anywhere means, that if a particular source of tourists dries out, a smart move would be to market the destination in the countries which are doing relatively well/better.

Remesas will go down and along with it the peso exchange rate. But cheap peso, if smartly managed, could become an opportunity, too. Dominican goods will be cheaper on the international markets. Today, the problem is that there are no significant Dominican goods (with the exception of gold). Will the oligarchs have courage to invest in a marketing of a new sunglasses brand (perhaps you may find better examples)?

Finally, there is a financial aspect. Will the Banco Central diversify its assets for the days of USD losing the world currency status?
There are more questions then answers in this topic.
 

tarriqq

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Aug 1, 2013
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Interesting topic! A huge crisis is coming, with or without COVID-19, and the DR will be affected, too.
There are two main sources of revenue here: tourism and remesas.

The nice thing about tourism is that could come from anywhere. Anywhere means, that if a particular source of tourists dries out, a smart move would be to market the destination in the countries which are doing relatively well/better.

Remesas will go down and along with it the peso exchange rate. But cheap peso, if smartly managed, could become an opportunity, too. Dominican goods will be cheaper on the international markets. Today, the problem is that there are no significant Dominican goods (with the exception of gold). Will the oligarchs have courage to invest in a marketing of a new sunglasses brand (perhaps you may find better examples)?

Finally, there is a financial aspect. Will the Banco Central diversify its assets for the days of USD losing the world currency status?
There are more questions then answers in this topic.
4 sure the thing is there is a HUGE crisis coming. I think there are so many areas that are going be affected also from food supply to important resources. Also foreclosures around the world. Realestate is going to take a big hit. There are many jobs that are not coming back.
 

johne

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Jun 28, 2003
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. Also foreclosures around the world. Realestate is going to take a big hit.
Correct, mas or meno. Many classes of real estate will take "a bit hit" and that will be a opportunity for those to buy instead of rent, invest, or upgrade to a different house in a different neighborhood. Homes with a larger footprint of living space, or homes with large backyards offering "space" for at home gathering will rise in price and sell quickly. Commercial properties ...I have no knowledge about that hornet's nest.
 

johne

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Jun 28, 2003
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Furthermore, it's important to note that not ALL of the population is down and out. Fifteen percent of unemployment means EIGHTY-FIVE percent are working.
 
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