What is Global Economic Crisis

The COVID-19 pandemic has caused diverse sorts of disruption across the globe. The pandemic has drastically impacted the economies of almost every country of the world. The international economic scenario is full of despair as the entrepreneurs and business leaders find it hard to come to terms with the extent of damage caused by the pandemic. In view of largely prevalent gloom and despair, it is imperative that certain resilience strategies are worked out so that global economic crisis can be stemmed from further escalation. The gig economy has been viewed as a powerful resilience mechanism to tide over the economic crisis caused the world over by COVID-19. Entrepreneurial leadership can also make significant difference in providing a paddle-push to the pandemic-struck world by reactivating the engines of economic growth. The nature of this chapter is qualitative, and it seeks to theoretically work out certain strategies that can help various economies of the world to stand up and be resilient in the face of complex challenges that the pandemic has thrown before us.