Corona-Triggered Global Macroeconomic Crisis of the Early 2020s

Krstić, K; Westerman, Ronny; Chattu, Vijay Kumar; Ekkert, Natalia V.; Jakovljević, Mihajlo

doi:10.3390/ijerph17249404

Cited by 34 publications

(18 citation statements)

References 32 publications

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“…At the beginning of 2020, COVID-19 was formally regarded as a pandemic [5]. Countries worldwide aimed to limit the transmission of the virus and flatten the epidemic curve to alleviate the burden on healthcare systems and the resultant macroeconomic crisis especially across China, Russia, India, EU, and leading Emerging Markets [6,7]. Governments and tertiary institutions worldwide launched initiatives and provided guidelines to continue teaching activities while minimizing the spread of the virus [8,9].…”

Section: Challenges For Service-learning Under Covid-19mentioning

confidence: 99%

Evaluation of Service-Learning in Project WeCan under COVID-19 in a Chinese Context

Leung

Shek

Dou

2021

IJERPH

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Service-learning is a widely adopted educational pedagogy and philosophy. With the support from the Wharf (Holdings) Limited (Group), service-learning was conducted in the “Project WeCan” in Hong Kong. Prior to COVID-19, traditional service-learning was implemented with students learning in the classroom and applying their knowledge and skills to the community through providing direct face-to-face service. With the COVID-19 outbreak in the 2019–20 academic year, school lockdown measures appeared. Students had to learn online and to design and implement service offsite. As the impacts of this rapid shift in paradigm remain unknown, this study examined changes in university students using a pretest–posttest design (n = 124) and perceptions of service-learning experience via the subjective outcome evaluation design (n = 192) under COVID-19. The authors also investigated service recipients’ (n = 56) satisfaction with service activities they participated in during the pandemic. Both objective outcome evaluation and subjective outcome evaluation findings revealed that service providers (university students) and recipients (secondary school students) experienced benefits from the Project. Findings support the benefits of online service-learning in “Project WeCan” even during unprecedented times such as COVID-19.

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Section: Challenges For Service-learning Under Covid-19mentioning

confidence: 99%

Evaluation of Service-Learning in Project WeCan under COVID-19 in a Chinese Context

Leung

Shek

Dou

2021

IJERPH

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“…The short-lived slowdown in real GDP growth took place during Corona-induced lockdown and massive quarantines of large cities and intraregional travel. Yet this has rapidly changed after the current pandemic was effectively managed in this huge nation 57 . China continues to be the major driver of global and Asian economic growth culminating with the recent establishment of the world's largest free trade zone named The Regional Comprehensive Economic Partnership, or RCEP 58 .…”

Section: Discussionmentioning

confidence: 99%

Future Health Spending Forecast in Leading Emerging BRICS Markets in 2030 - Health Policy Implications

Jakovljević

Lamnissos

Westerman

et al. 2021

Preprint

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Introduction: BRICS leading Emerging Markets are increasingly shaping the landscape of global health sector demand and supply for medical goods and services. BRICS’ share of global health spending and future projections will play a prominent role during upcoming 2020s. The purpose of current research was to examine decades long, underlying historical trends in BRICS’ nations health spending and explore these data as the grounds for reliable forecasting of their health expenditures up to 2030.Methods: BRICS’ health spending data spanning 1995 - 2017 were extracted from IHME’s Financing Global Health 2019 database. Total health expenditure, government, prepaid private and out-of-pocket spending per capita and GDP share of total health spending, were forecasted 2018 - 2030. The ARIMA (Autoregressive Integrated Moving Average) models were used to obtain future projection based on time series analysis.Results: Per capita health spending in 2030 is projected to be: Brazil: $1767 (95% PI: 1615, 1977) ; Russia: $1933 (95% PI: 1549, 2317); India: $468 (95% PI: 400.4, 535) ; China: $1707 (95% PI: 1079, 2334); South Africa $1379 (95% PI: 755, 2004). Health spending %GDP shares in 2030 are projected to be: Brazil: 8.4% (95% PI: 7.5, 9.4) ; Russia: 5.2% (95% PI: 4.5, 5.9) ; India: 3.5% (95% PI: 2.9%,4.1%) ; China: 5.9% (95% PI: 4.9, 7.0) ; South Africa: 10.4% (95% PI: 5.5, 15.3).Conclusions: All BRICS expose long term trend to increase their per capita spending in PPP (purchase power parity) terms. India and Russia are highly likely to maintain stable total health spending GDP% share until 2030. China, as the major driver of global economic growth will be capable of significantly expanding its investment into the health sector across an array of indicators. Brazil is the only large nation whose GDP% share of health expenditure is about to contract substantially during the third decade of the 21st century. The steepest curve of increase in per capita spending until 2030 seems to be attributable to India while Russia should achieve the highest values in absolute terms. Health policy implications of long term trends in health spending indicate the need for Health Technology Assessment dissemination among BRICS ministries of health and national health insurance funds. Matters of cost-effective allocation of limited resources shall remain the core challenge in 2030 as well.

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“…Previous studies on COVID-19 have focused on containing the spread of the disease and relieving the negative impacts, including the necessity and effectiveness of lockdown policies [ 19 ], which China was the first country to implement. Many scholars have pointed to the economic recessions triggered by the lockdown and quarantine policies [ 20 ]; however, given the evidence in China, containment strategies should include lockdown and quarantine policies in order to reduce transmission rates [ 21 ]. Another important policy to emphasise is the promotion of economic growth.…”

Section: Literature Reviewmentioning

confidence: 99%

Understanding the Evolution of Government Attention in Response to COVID-19 in China: A Topic Modeling Approach

2021

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The effective control over the outbreak of COVID-19 in China showcases a prompt government response, in which, however, the allocation of attention, as an essential parameter, remains obscure. This study is designed to clarify the evolution of the Chinese government’s attention in tackling the pandemic. To this end, 674 policy documents issued by the State Council of China are collected to establish a text corpus, which is then used to extract policy topics by applying the latent dirichlet allocation (LDA) model, a topic modelling approach. It is found that the response policies take different tracks in a four-stage controlling process, and five policy topics are identified as major government attention areas in all stages. Moreover, a topic evolution path is highlighted to show internal relationships between different policy topics. These findings shed light on the Chinese government’s dynamic response to the pandemic and indicate the strength of applying adaptive governance strategies in coping with public health emergencies.

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Corona-Triggered Global Macroeconomic Crisis of the Early 2020s

Abstract: Long-lasting economic recessions spreading from initial cradle markets worldwide should be a periodic event inherent to capitalism as a prevailing socio-economic model [...]

Cited by 34 publications

References 32 publications

Evaluation of Service-Learning in Project WeCan under COVID-19 in a Chinese Context

Evaluation of Service-Learning in Project WeCan under COVID-19 in a Chinese Context

Future Health Spending Forecast in Leading Emerging BRICS Markets in 2030 - Health Policy Implications

Understanding the Evolution of Government Attention in Response to COVID-19 in China: A Topic Modeling Approach

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