President of the ECB, Christine Lagarde, once said that the global economy would never be the same again. The coronavirus pandemic has not only changed people’s lives, it has transformed the global economy. “The transition to new economic models will be disruptive -- they will probably be more disruptive in the first two years, obviously hitting employment and production and then we can hope it improves productivity,” Christine Lagarde said. The virus outbreak may spur the preexisting shift towards digitization and automation, shorter supply chains, and greener industries. Moreover, leading financial regulators, including the ECB will need to keep their monetary policies exceptionally loose and develop new financial instruments that will allow them to carry out the economic transformation. At the same time, online trading will go on rising thus negatively affecting traditional sales. The worst thing is that robots may replace millions of workers. According to the forecasts, after the pandemic, the use of robots may increase by between 70% and 75%.
