Harry G. Broadman is currently a Partner and Chair of the Emerging Markets Practice at the Berkeley Research Group LLC (BRG), a global business strategy consulting firm that provides not only operational advice to c-suite executives and boards of large internationally located corporations, private equity firms, institutional investment houses and sovereign wealth funds on structuring cross-border transactions, implementing novel approaches to mitigating risk, and fostering innovation, but also expert witness testimony on international commercial litigation and arbitration on complex disputes involving investment and trade, corporate governance, antitrust, economic and national security regulation, and corruption. He also serves on several corporate boards, including a UK-based credit rating agency; a US cybersecurity software supplier; an international purveyor of a network of alternative dispute resolution (ADR) services across 22 emerging markets; and a telecoms and healthcare services provider in Africa. He is a Board Leadership Fellow and a member of the Master Workshop Faculty at the National Association of Corporate Directors (NACD). Concurrently, Broadman is a member of the faculty at Johns Hopkins University and a business columnist for Forbes, The Financial Times, Newsweek International and the International Financial Law Review.
Who are the winners and losers of the pandemic – internationally, within countries, and within sectors? Apart from the clear winners and losers, what should policy do about the ‘in-betweens’ to facilitate a potent, sustainable, equitable recovery?
Recessions and shocks change the structure of the economy, accompanied by the flourishing of some sectors and shrinkage of others. Like other crises, the COVID-19 crisis seems to be creating winners and losers across economies, sectors, and employment.
The lockdown shock inhibits physical commerce and jobs in sectors, such as high street retailers, office property, fossil fuels, travel, entertainment, accommodation, and food services but also reallocating vast resources into industries, such as pharmaceuticals, e-commerce, tech manufacturing, renewables, fintech and digital entertainment.