Alexander Stubb has a vast background in academic, civil service and politics; he is an avid pro-European with experience and expertise across all EU institutions. He has served as Prime Minister, Finance Minister, Foreign Minister, Trade and Europe Minister of Finland from 2008 to 2016. He was a member of the European Parliament from 2004 and 2008, Chairman of the National Coalition Party from 2014 to 2016 and Vice President of the European Investment Bank from 2017 to 2020. Since May 2020, Alexander Stubb is a Director and Professor at the School of Transnational Governance at the European University Institute based in Fiesole, Florence.
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.