Will COVID-19 Spark a Paradigm Shift for Businesses?

(Global Trade Magazine, Dallas, 26 May 2020) Virginie Fauvel of Euler Hermes notes: As governments, leaders and industries around the globe grapple with the effects of the pandemic, one thing is certain: the fragility of businesses has been exposed... Will we see a paradigm shift in the way businesses transform their strategies and priorities? As we shift into a post-pandemic world, will the traditional drivers of a capitalist society (productivity, profit and growth) be re-evaluated by businesses? We’re already seeing younger generations less attracted to capitalist values... We’ve already seen governments, businesses and individuals come together to encourage solidarity and altruism... with business repurposing their products and services to help fight the pandemic and individuals stepping into action to shop for their neighbors and set up support systems all while celebrating those on the frontlines of healthcare and emergency services each night. Meanwhile, as the following article notes, Friends of the Earth and Oil Change International are saying: "As G20 governments prepare historic levels of public finance in response to COVID-19 we need them to break from the past and make sure this money goes to a just and sustainable recovery instead."