Companies in difficulty after the crisis: The source of many conflicts?
Companies in all OECD countries will be in trouble in the aftermath of the coronavirus crisis: higher debt levels, significant drop in earnings in 2020 , permanently lower revenues than before the crisis in many sectors. These difficulties for companies may lead them to behave in ways that will be a source of conflict with populations and governments: Job cuts, and therefore an ongoing rise in unemployment; Wage austerity, while collective demand for higher wages is emerging; Offshoring to low-wage countries, while governments are talking about reshoring; Rejection of climate and environmental standards, while public opinion wants to tighten them; Demand for tax cuts, while the need for public spending will be significant; Pressure on employees to increase productivity and working hours, while the collective aspiration will be to fight against the "productivist" economy. We can expect major tensions between the business world on the one hand and governments and public opinion on the other, and not at all a peaceful post-crisis world.