Page 3 - EE Times Europe Magazine | June2020

EE|Times EUROPE

BACK IN PRINT!
EDITOR’S LETTER
Get your FREE subscription
Industry Adrift? to the re-launched

Not at All EE Times Europe Magazine

The global economy is in a rut. It will
shrink 3.2% this year, led by a 5% decline
in developed countries and a smaller
decrease in other parts of the world,
according to economists at the
International Monetary Fund. At the
beginning of the year, expectations
were vastly different. In January, IMF
economists were projecting 3.3% global
economic growth for 2020 and 3.4% for 2021.
That was before Covid-19. All the prior estimates have been
erased, replaced by IMF expectations for a deep contraction and the
likelihood of “even more severe outcomes.”
Technology companies aren’t immune to the nasty impacts of the
coronavirus pandemic. They are rethinking and retooling many parts
of their operations. Manufacturing must periodically be recalibrated
to compensate for a lack of visibility into market demand and as
cracks appear in the supply chain. This time, though, managing the
shocks to the supply chain is more difficult because of the huge
uncertainties engendered by the actions taken to reduce the spread
of the novel coronavirus and contain its societal fallout.
We can go on ad nauseam about how bad the economic conditions
are likely to get. Look beyond the negatives, though, and a clearer
image emerges. First, 2021 will be much better. Buoyed by fiscal
policy initiatives, the global economy will rebound in 2021 with a
5.8% spurt, according to the IMF. The lifting of restrictions on move-
ment and other activities will trigger massive spending by businesses
and consumers. Pent-up demand will be unleashed, helping to fuel a
rebound in spending and consumption.
Electronics manufacturers will benefit from the efforts to resume nor-
mal business activities. Sure, many constraints will remain. For example,
companies may still restrict business travel, and telecommuting will EE Times Europe Magazine
likely become a staple offer to employees whose jobs can be performed delivers the latest news, articles,
outside of the traditional office environment. Even this will have a pos-
itive impact on technology companies as the new wave of home office special reports, and features to cover
workers acquires the necessary tools to meet productivity requirements. every facet of today’s challenging and
The tech sector has too many innovations lined up — addressing
business as well as consumer interests — to stay in the doldrums too disruptive technologies, software,
long. Growth areas include automotive, communications and connec-
tivity, industrial, medical, power, and transportation. Semiconductors and components.
are becoming a staple of the equipment used in many sectors of the
economy, and that trend will only accelerate as more companies pursue
the competitive advantages of automated manufacturing processes. Our team of editors brings together
This industry, like other sectors of the economy, may have slowed
down over the last couple of months, but it has certainly not been set the latest in engineering journalism
adrift. Even at the height of the pandemic, innovation has not wavered. and articles to keep you up to speed
The results will be out soon. ■
with the state of the art in the
electronic engineering industry.

Subscribe at

www.eetimes.eu
— Bolaji Ojo, global publisher and editor-in-chief at AspenCore Media

www.eetimes.eu | JUNE 2020