The economist can india fly

It will not be a robust growth rate and a lot of it will depend on a vaccine. Obviously, the sooner a vaccine is available and widely distributed, the better the chances of growth, but we don't really see that happening until the second half of One could say that manufacturing is probably enjoying a V-shaped recovery, at least temporarily, but services, which were among the hardest hits — especially airlines, travel and entertainment — these are in U-shaped recoveries.

People have talked about a W. You probably won't get a W unless there's a serious second wave, which I don't think is likely but it's possible. Could you tell us more about the sectors that have been hardest hit, and the ones that are thriving? NB: Well, the hardest hit are clearly any activities or any industries that depend on large groups of people coming together in a spot, so airlines are a perfect example of this.

Hotels are another example. And there are huge amounts of excess capacity on cruise ships. Anything to do with conferences has also been hard hit. In terms of the industries that have done well, high tech is of course an example. Obviously, everybody's ordering from Amazon rather than going to stores but beyond that a lot of industries are looking to accelerate the digital revolution.

Ironically, healthcare is also benefiting in some sense, because of the demand. Why would housing boom? It is in the US, maybe less so elsewhere. Basically, a lot of people are fleeing to suburbs. I want more space between myself and my neighbours. COVID has hit even the richest countries in the world hard.

What is it doing to developing economies? And are there lessons from the emerging world that could be applied to wealthier places? Taiwan and South Korea are notable for their testing and tracing. So that's a definite lesson. It's not only the virus itself but events outside of their countries that are then coming back to hurt them. Looking at the big picture, are we going to see a different kind of economy and a green recovery emerge from the pandemic?

I don't think it's going to be business as usual: I think there are going to be some big, big changes happening. We may not see them overnight. It may take some time. But let's go through a few of them. I think this will accelerate the movement towards a green economy. This is a perfect opportunity for a lot of companies as they look at new, green technologies.

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Not everyone is like me. I was lucky enough to have the resources to make it work, and I only had to account for only myself in the calculus of my return. Make no mistake about it, this is a government policy choice to leave these people stranded. Our budget allows us to look to the future and it shows to the general public what the priorities of the government are.

Migrants are a key source of revenue for the government. Governments boast that skilled migrants add to the fiscal balances of governments almost 7 billion dollars. As I said in my earlier post :. We asked migrants to be part of our country, we made them jump through several hoops, to declare their loyalty. But what exactly do they get in return.