At the beginning of the COVID19 pandemic, trade imports and exports between the United States and China halted. With the upbringing of the trading halt, both the United States’ and China’s economies have dropped significantly (Cheng, 2020). Although this halt aimed to prevent employees from being contaminated with COVID, many of these employees had to be laid off from work. Additionally, businesses within the United States and China had to shut down temporarily until a plan was created for protective measures to be safe for employees to continue working their day-to-day jobs.
The United States is demonstrating efforts in supporting the U.S. economy and financial markets by supporting financial market functioning, changing banking policies, supporting households, consumers, and state borrowing, and providing support towards U.S. markets from crashing due to international pressures (Moss, 2020).
However, China is still facing concerns regarding supporting consumers, small corporations, and businesses. With China’s more significant population reaching seniority aging, the issue rises from their labor forces shrinking rapidly, especially with their unemployment stats rising due to the global pandemic (Shultz, 2020). Although it is far-fetched, I would like to be put in a place of leadership within the center of this proposition. For my 90-day leadership – solution program, I would focus entirely on supporting corporations and small businesses (specifically in areas and cities where the population of youths rules greater).
For the first 30 days, I would focus on providing support loans to small businesses where the youth can thrive within their companies. Of course, policies and restrictions towards these loans would be modified due to the pandemic, but it should allow the businesses to be put under a five to a ten-year contract with measurable progress. The focus is to enable youths and millennials to be trained effectively and put into responsible leadership positions to thrive within the economy. Financial markets within the pandemic should the Silver Wave hit China later on.
For the 60-90 days mark, I would focus on continuous work readiness training to allow the youths to evolve their communication, critical thinking, teamwork, and conflict management skills. Additionally, I would assist with funding the youths’ education; furthermore, leading to their social transformation and engagement within the Chinese market and economy. This will enhance their role in sustainable economic development within China.
Cheng, J. (2020, July 16). China’s Economy Appears Back on Track, but Challenges Remain. Retrieved from The Wall Street Journal: https://www.wsj.com/articles/chinas-economy-appears-back-on-track-but-challenges-remain-11594901270?mod=searchresults&page=3&pos=5
Moss, T. (2020, July 22). China’s Xi Jinping Pledges Stronger Domestic Market, Global Ties as Strife With West Brews. Retrieved from The Wall Street Journal: https://www.wsj.com/articles/chinas-xi-pledges-stronger-domestic-market-global-ties-as-strife-with-west-brews-11595409718?mod=searchresults&page=3&pos=1
Shultz, G. P. (2020, August 26). China Has Troubles of Its Own. Retrieved from The Wall Street Journal: https://www.wsj.com/articles/china-has-troubles-of-its-own-11598457219?mod=searchresults&page=3&pos=20