The coronavirus global epidemic has undoubtedly led us to a new process, where we will develop a new understanding of our personal and work lives while adapting to the new conditions brought on by wide-ranging global and national changes. This new process will have consequences that will require a change at the international, national, and individual levels. At the individual level, we will now have an emergency bag for outbreaks, much like the earthquake emergency kits we make at home.
First, a new process to reduce cash use will advance. The transition from cash, which carries microbes, bacteria, and viruses from hand to hand, to digital money will accelerate. Second, it will take the discussions on individual privacy and "protection of personal data" toward global digital platforms to a new level, adding the dimension of implanting chips into people's bodies. The fear of catching the virus will force people to sacrifice their privacy and the global established order will criticize state measures to protect personal privacy. Topics such as internet availability outside the state control will gain speed.
Third, we will enter the toughest round of the war between the pro-nation-state and the globalists. They will try to corner all leaders, who fiercely advocate the concept of the nation-state, with the virus. The coronavirus tests of Prime Minister Boris Johnson and Prince Charles, the heir to the throne, were positive. Last Thursday, former British Prime Minister Gordon Brown, on the other hand, proposed the urgent establishment of a global government in the fight against the virus. This means the defeat of nation-states.
Fourth, this virus outbreak will completely change the way governments and companies are managed. Conventional style horizontal or vertical organizational structures will become outdated. States and companies will be persuaded and guided to provide remote access to their employees. The concepts of open office and corporate headquarters will be questioned. Brand new insights and approaches will be put on the agenda for real estate and construction activities around the world.
This process will be continuously pushed toward where the concept of the nation-state will be questioned.
Fifth, indispensable global technology companies and digital platforms will be strengthened even more. E-commerce, e-export and a sharing economy will be made indispensable for Y and Alpha Generations. Both of these generations will try to end the propensity to acquire properties. For the new generation, a new lifestyle of social isolation based on full "digitalization" will be imposed on them where their closest friends are "smart devices."
Sixth, it will be a difficult test for those who advocate for the nation-state. They will continue to defend the national industry move forward despite all the pressures from those rooting for globalization.
In a conjuncture where total elimination of borders is advocated, at a time when the complete liberalization of global trade is defended, in light of the concept of the nation-state, countries will go into a major struggle to become self-sufficient, not only in defense but also health, informatics, cyberinfrastructure and energy against all the pressure and lobbying activities of global health care, IT and energy companies. As Turkey, we must prepare for this process with an understanding that prioritizes national sovereignty.
Priority is ‘National Economy’
The coronavirus pandemic continues to be on the top of the global agenda, with its fighting aspect, its effects on social and economic life, and the with the debates and expectations on the disruptive transformation it will cause in the short-, medium- and long-term once the outbreak is brought under control.
In the field of economics, one of the most striking claims or predictions of this period is the end of privatization in many countries of the world, and on the contrary, the fact that we will be entering a period where expropriation will be accelerated if necessary to prioritize the concept of “inclusive national economy."
The main reason behind the mobilization of such claims or predictions is the fact that countries will emerge from the global virus epidemic with either a heavier or a lighter picture in terms of their debt stock, budget deficit and international reserves (gold and foreign exchange) in their central banks. The shocking consequences of the global virus epidemic, which were like slaps on the face, will push the countries and governments, who have not said much on their companies being easily bought by international capital in the past due to financial or commercial difficulties, to now not be that "warm" to the same idea this time.
Because, it is clear that now, not only defenses of countries but also areas such as health, cyberinfrastructure and information systems, energy infrastructure and distribution systems, financial systems and supply systems of all kinds of goods and services also have vital importance. If China will be the economy that will economically overcome this virus pandemic the fastest, the destruction that Europe and the U.S. will suffer from as they are the new global centers of the pandemic will financially destroy many companies and organizations in critical sectors and make them a bargain for purchase.
This situation will steer the U.S., especially the Donald Trump administration, to "expropriation" to protect the U.S. companies, the U.S. origin. Undoubtedly, many European countries will follow this attitude. Because the coronavirus crisis has once again demonstrated how important it is for companies, which sustain critically important sectors of the country, to have national capital.
Building on top of this point, it will be more and more important that critically important and license-bound sectors, especially the licensed production and services in a country, such as finance, energy, transportation, communication and cyberinfrastructure, agriculture (licensed warehousing), just to give some examples, are under the control of investors with the national capital.