Implementation of Economic Security Measures in the Context of the Global Crisis and Pandemic

Abstract

Today, countries face a real security threat when closing borders in voluntary isolation from production chains. Many states have not paid due attention to the search for a profitable niche, specializing in the global commercial space. The pandemic has transformed business and society: business models, technologies and markets have quickly changed the relationship between people. The world economy will fall by 3% in 2020, the worst since the Great Depression. The coronavirus outbreak triggered three macroeconomic processes: a global attack on demand, a global attack on supply, and an oil war that brought prices down to low levels in the coming months. These events will soon lead to the massive destruction of capital and, consequently, to structural unemployment. It is a fact that not all countries are able to produce everything they need for themselves. The solution may be to concentrate on producing individual products or providing services within countries that cannot be bought abroad.