Gary Shilling's Guide to the Post-Pandemic Economy, Part 2
Expect greater use of telecommunications, a shift in preferred residences, more employee independence and an increased emphasis on online shopping.
Zoom meetings will be around long after the pandemic ends.
Photographer: Olivier Douliery/AFP via Getty Images
I explored the first four of 12 lasting effects of the Covid-19 pandemic on the economy and financial markets in my previous column. Here are four more: greater use of telecommunications, a shift in preferred residences, more employee independence and an increased emphasis on online shopping.
Greater use of extant telecommunications has been forced by the pandemic, which has also encouraged the development of new technology. Zoom calls have replaced many in-person, face-to-face meetings and taught us that personal encounters aren’t always needed in business and personal relationships. Zoom Video Communications Inc.’s stock is well down from its highs a year ago, but is still three-and-a-half times where it was in January 2020, just before the virus closed the economy.