In the video presented, the World Economic Forum has made a

launch briefing for the “Covid-19: The Great Reset” book wherein
its authors, Thierry Mallory, Prof. Klaus Schwab, and Sadia
Zahidi introduced the themes and objectives of the book they
wrote.
Prof. Klaus Schwab discussed the impact of Covid-19, though
the final outcome is yet to be certain, it is patently clear that
it greatly affected the economy of all of the countries in the
world just like how world wars do. Covid-19 impacted the global
economic growth so much that most of the countries are now
shouldering trillions of debt which will be repaid by the future
generations. Schwab also mentioned the three phases of the
pandemic which are Restrained, Recover, and Reset. Restrained is
the phase where we fight against the virus and Recover is the
phase where we have to go back to a new normal. Last phase is
Reset, which is the main topic of the book. It means to define
and to design strategies which could lead us in in the time after
Covid-19.
In the Great Reset, greater resiliency and stronger security
of people in all aspects, such as health, are one of its
objectives. The Covid-19 pandemic is not just what is threatening
the world. Even before the Covid-19, Earth has already been in
danger because of climate change. Therefore, after Covid-19, the
world must be more sustainable and prepared to face another
crisis. Schwab emphasized redefining social contract and along
with it he mentioned that the current generation should take
responsibility of the incurred debt of their country and should
not just leave the problem for the future generation to solve.
Social contract is about how we pool our resources to provide the
public goods we agree are needed and how we support those
affected by adverse shocks. A new social contract is essential to
restoring a sense of security and sustaining political support
for open economies and societies. Covid-19 has widened the gap of
industrialized or developed countries and emerging countries,
however those emerging countries with well-established social
contracts were able to recover faster and their losses are fewer.
Another issue emphasized by Schwab is decarbonization. Pandemics
and climate change are environmental issues which seriously
affect the world’s economy, thus caring for our nature also meant
caring for the economy. Lastly, Global cooperation is what the
world need for the Great Reset. Currently, countries all over the
world are interdependent, which means they influence and rely on
each other. Therefore, all should work together to reset our
economic and social ecological thinking.