The COVID-19 crisis is another timely reminder of the need for building resilience into our social, economic, and financial systems – locally, nationally, and globally. It has exposed the vulnerability of our societies, of our health systems, but also the susceptibility of supply chains and the gig economy. Financial systems have held up relatively well, thanks to stricter capital requirements introduced after the 2008 crisis and decisive intervention by central banks, but are now also starting to show cracks. Increasing resilience needs to be one of the main guiding principles to ensure we are better prepared to withstand future pandemics.
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