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In an exclusive interview with Sky News Arabia, the founder of the American company Microsoft, Bill Gates, ruled out that the global economic recovery from the repercussions of the Corona crisis would be quick.
In response to a question for «Sky News Arabia» about the optimal sectors for investment and entrepreneurship in light of the new economy imposed by the Corona pandemic, Gates said: «I think that the returns will be modest in the next few years parallel to the restoration of consumer confidence gradually. And while being cautious about forecasting total returns, returns for innovation will inevitably continue to rise.
He pointed out that the software and technology companies will enjoy a very good price position, because they will be one of the biggest beneficiaries of the growing trend of all that is digital.
Gates added, “Predicting the companies best able to lead the helm of the telemedicine industry and distance education remains difficult.” There is no doubt that students, students and patients will pay lower costs and get more efficient services and products, and this will benefit the whole world. ”
And on the changes imposed by the Corona pandemic and the trend towards digital platforms, Gates said that the digital space will become more common and more used, noting that the digital development that needed 10 or 15 years will become greatly accelerated.
The American billionaire noted that the digital platforms will invest in improving their performance more, and that the efficiency of these platforms will increase, whether in the field of tele-treatment, distance education or tele-trade, and even in managing legal matters, trials and complicated negotiations.
Show that this development will force us to rethink several areas, such as the feasibility of offices and travel for meetings and other business.
In an interview with “Sky News Arabia”, Gates said that “the slow pace of companies and industries resuming their activities again, and the prevailing uncertainty leads us to say that there will not be a quick recovery, but it will take years.”
He added, “If we look at interest rates, including government interest rates in the US Treasury, we will see a clear indication that the economic situation will be difficult.”
He continued: «Even in China, which was the fastest in facing the spread of the virus and containing it, the desire to travel and spending has decreased dramatically. “The economy will recover, but it will not be a quick recovery.”
He stressed that “there are countries like Nigeria and Lebanon that will suffer great damage and will take a long time before they stand on their feet again, but this does not apply to rich countries thanks to having reserves, including most of the Middle East countries.”
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