Covid had brought the world to its knees, and it became imperative for governments around the world to impose lockdowns.
The quarantine and lockdown reduced the spread of the virus but crippled many industries. Maksim Konstantinov, a finance professional, shares his insights about the global economy bouncing back post-Covid.
Maksim Konstantinov is a self-made entrepreneur with a private business catering to financial services provision, financial audits, business consulting, investment portfolio building, and financial management.
He also developed a forex trading app called FXBro with a friendly and easy interface to help people trade easily. Maksim Konstantinov ventured into the field of finance because of his love for it.
He enjoyed discovering statistical patterns and listening to the voice of the global markets.
Maksim Konstantinov analyzes that the global markets are no longer in a downward trend but are instead bouncing back. There was a systematic fear in the market that the next Great Depression was around the corner.
But unlike other crashes where the banking system collapses, the pandemic more or less did not affect the banking sector.
The prices did stabilize after the initial volatility, and the banking system has shown few signs of liquidity inadequacy. The fear of the crash did not materialize and never looked as sinister as the crash of 2008.
The housing market showed resilience, with prices barely falling and the unemployment rate dipped faster than expected.
Sectors such as autos and durable goods took a hit from the physical lockdown, but they have bounced back more robust than expected.
Maksim Konstantinov says that the world economy has not yet recovered to pre-crisis or healthy levels, but he sees a highly optimistic scenario.
He believes that the global picture will keep getting better as vaccines are distributed worldwide.