The global economy has been challenged in 2020 due to many factors including COVID19, protectionism, and other geopolitical events. Countries around the world have a great opportunity to re-shape their own economies as part of fixing tax fairness, job quality and efficient government.

1. P A U L Y O U N G C P A C G A
J U L Y 2 3 , 2 0 2 0
WHAT’S NEXT
FOR THE WORLD
ECONOMY

2. Paul Young - Bio
• CPA, CGA
• Financial Solutions
• SME – Business Process Changes
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Financial Solutions
• SME – Supply Chain Management
• Academia – Advance Accounting, Public Finance
and Advanced Management Systems
Contact information:
Paul_Young_CGA@Hotmail.com

3. Agenda
• GDP / Growth
• Unemployment Rates
• COVID19/Deficit spending
• Debt
• Infrastructure
• What’s next?

4. GDP / Growth
Source - https://www.scotiabank.com/ca/en/about/economics/economics-
publications.html

5. Unemployment Rates
Source - https://www.pwc.com/gx/en/issues/trust/common-purpose/why-good-jobs-matter-in-the-
post-pandemic-world.html or https://tradingeconomics.com/country-list/unemployment-
rate?continent=g20
• There are issues with job quality -
https://www.slideshare.net/paulyoungcga/labor-
market-canada-june-2020
• The creation of ‘good jobs’ should be a priority in this
new world. COVID-19 has hurt industries and
livelihoods, with millions of jobs lost and many more
that could be lost in the aftermath; almost every G20
nation is expecting recession, which will accelerate the
displacement of workers. Before the pandemic,
while unemployment rates were falling across G20
nations, the hollowing out of middle-income work was
starting to ring alarm bells. Many workers displaced by
automation and new operating models - facing a lack of
time and support to acquire the skills needed to pivot
toward other ‘good jobs’ - were forced to accept
precarious, lower-skilled, lower paid jobs. Jobs that,
during the pandemic, are often on the front lines and
have greater potential exposure to the virus – Source –
PWC

6. COVID19 / Deficit Spending
Source - https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 or
https://www.csis.org/analysis/breaking-down-g20-covid-19-fiscal-response-may-2020-update
• Countries need to start pulling back their
deficit spending as part of the recovery
• There should be focus on many areas like
getting goods to market -
https://www.slideshare.net/paulyoungcga/
how-best-to-get-goods-to-market and
reforming of government -
https://www.slideshare.net/paulyoungcga/
analysis-efficiency-and-effective-
government-canada-and-the-world
• Programs that supported income loss
should be scale back as part of supporting
re-entry back into workforce -
https://globalnews.ca/news/7186683/queb
ec-business-owner-workers-cerb/
• More emphasis will be required on training
and education -
https://www.slideshare.net/paulyoungcga/
human-capital-management-skills-and-
education

7. Debt
• Consumer, government and business debt levels could impact the recover
due to cash flow issues.
Blog:
• In the past, there have been concerns about debt, especially if interest rates
were to rise. Interest rates are still an issue. The bigger issue is cash flow
with govt, business, and personal. Sales and wages could see significant
shrinkage as part of the COVID19 recovery.
• https://www.slideshare.net/paulyoungcga/covid19-global-debt-crisis-july-
2020/paulyoungcga/covid19-global-debt-crisis-july-2020

8. Infrastructure
• Countries around the world can help with the post recovery by
investing in infrastructure
Blog:
• “Two critical elements in analyzing infrastructure projects are often
overlooked: the true cost of capital and long-term maintenance
expenses.” https://www.slideshare.net/paulyoungcga/canada-
infrastructure-analysis-of-policy
• Re-setting infrastructure spending -
https://www.mckinsey.com/industries/capital-projects-and-
infrastructure/our-insights/resetting-capital-spending-in-the-wake-of-
covid-19

9. What’s next
• The world has shown there were issues with their various responses to pandemic. All levels of government should have audited crisis and risk
management reports - https://www.slideshare.net/paulyoungcga/crisis-management-how-best-to-managed-a-crisis
• More balance between the economy and GDP - https://www.slideshare.net/paulyoungcga/why-do-politicians-play-games-with-the-environment
• More emphasis on supply chain including local solutions - https://www.slideshare.net/paulyoungcga/how-best-to-reshore-supply-chains
• Reforming taxation as part of overall tax fairness - https://www.slideshare.net/paulyoungcga/are-wealth-tax-a-good-idea
• Reforming the size of government - https://www.slideshare.net/paulyoungcga/analysis-efficiency-and-effective-government-canada-and-the-
world
• Stop pushing guarantee income and start working on policies that will support better jobs - https://www.slideshare.net/paulyoungcga/policy-
analysis-guarantee-income
• Innovative solutions when it comes to upgrading and/or building new infrastructure - https://www.slideshare.net/paulyoungcga/canada-
infrastructure-analysis-of-policy
• Fixing the systemic issues with housing - https://www.slideshare.net/paulyoungcga/housing-market-affordability-and-costing-canada-
september-2019
• Reforming global organizations like WHO and WTO - https://www.slideshare.net/paulyoungcga/reforming-both-the-united-nations-and-who or
https://www.slideshare.net/paulyoungcga/2019-election-global-trade-barriers-and-protection-wto-canada-september-2019
• Better urban planning decisions including rural and urban strategies - https://www.slideshare.net/paulyoungcga/urban-and-rural-planning-
whats-next-236315321
• Working together to reduce geo-political issues - https://www.slideshare.net/paulyoungcga/dealing-with-geopoltical-risk
• Reforming accounting and audit as way to provide more oversight into financial performance of businesses and the government -
https://www.slideshare.net/paulyoungcga/internal-audit-and-performance-base-auditing

10. Other Sources
• If you like to learn
more about trade
and/or other
subjects as part of
your professional
learning and
development then
feel free to review
my material on
https://www.udem
y.com/ (search Paul
Young CPA CGA