კონფერენცია

∘ Sofio Macharashvili ∘
PANDEMIC-INDUCED RECESSION - A "SHOCK" TO WORLD BUSINESS

Summary

2020 is a kind of testing year for the modern world. On the battlefield, on one side, is the Corona virus, and on the other, the entire civilized world with technological innovations. But today, unfortunately, the advantage is still on the side of Covid19, and it is likely that this will continue until scientists find an innovative vaccine against the coronavirus. As with other crises, there is still hope for innovation - an innovative vaccine.

The global recession of Covid19 and its aftermath in 2020 has become an important impediment to the development of the world economy. The Corona virus has affected countries such as China, the United States, Italy, Spain, Germany, France, Iran, Switzerland, North Korea, Brazil, and others. The curfew was announced in most countries. Cities and countries were closed. The spread of the Corona virus pandemic has affected the lives of almost all people and affected all sectors. Corona virus has killed many people. Everyday routine life has come to a standstill, with many industries including business, finance, transport, and many other important industries shutting down.

Communal organizations and the energy distribution sector have been working 24 hours a day to provide uninterrupted electricity to create comfort for the population. The global recession of Covid19 and its aftermath in 2020 has become an important impediment to the development of the world economy. At the same time, the reduction of global business support - import-export for both rich and poor countries will lead not only to strained relations between companies, but also within companies, which in itself requires a new approach to corporate governance. And such a direct threat to people draws the attention of managers directly to the individual.

Despite the modest impact on the outlook for most agricultural products, delays in the supply chain and steps taken by states to restrict exports or the accumulation of stockpiles of concern are alarming in the sense that in some countries food security may be at risk.

The Corona Virus has set a number of tasks for both the public and private sectors, namely: ensuring safe working conditions for employees, avoiding the risk of public illness, protecting and supporting jobs for those who were unable to work during the state of emergency. The impact of Covid19 is not the same for different sectors and individuals. Specific social or demographic factors influence a person's ability to take care of health, economic status, and social outcomes that accompany a pandemic.

Ivane Javakhishvili Tbilisi State University Paata Gugushvili Institute of Economics International Scientific C O N F E R E N C E S "ECONOMY – XXI CENTURY"

E ISSN 2587 - 4691	∘ Sofio Macharashvili ∘ PANDEMIC-INDUCED RECESSION - A "SHOCK" TO WORLD BUSINESS Summary 2020 is a kind of testing year for the modern world. On the battlefield, on one side, is the Corona virus, and on the other, the entire civilized world with technological innovations. But today, unfortunately, the advantage is still on the side of Covid19, and it is likely that this will continue until scientists find an innovative vaccine against the coronavirus. As with other crises, there is still hope for innovation - an innovative vaccine. The global recession of Covid19 and its aftermath in 2020 has become an important impediment to the development of the world economy. The Corona virus has affected countries such as China, the United States, Italy, Spain, Germany, France, Iran, Switzerland, North Korea, Brazil, and others. The curfew was announced in most countries. Cities and countries were closed. The spread of the Corona virus pandemic has affected the lives of almost all people and affected all sectors. Corona virus has killed many people. Everyday routine life has come to a standstill, with many industries including business, finance, transport, and many other important industries shutting down. Communal organizations and the energy distribution sector have been working 24 hours a day to provide uninterrupted electricity to create comfort for the population. The global recession of Covid19 and its aftermath in 2020 has become an important impediment to the development of the world economy. At the same time, the reduction of global business support - import-export for both rich and poor countries will lead not only to strained relations between companies, but also within companies, which in itself requires a new approach to corporate governance. And such a direct threat to people draws the attention of managers directly to the individual. Despite the modest impact on the outlook for most agricultural products, delays in the supply chain and steps taken by states to restrict exports or the accumulation of stockpiles of concern are alarming in the sense that in some countries food security may be at risk. The Corona Virus has set a number of tasks for both the public and private sectors, namely: ensuring safe working conditions for employees, avoiding the risk of public illness, protecting and supporting jobs for those who were unable to work during the state of emergency. The impact of Covid19 is not the same for different sectors and individuals. Specific social or demographic factors influence a person's ability to take care of health, economic status, and social outcomes that accompany a pandemic.