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T. Vizgirda, chairman of the board of the United States Chamber of Commerce in Lithuania and head of the company Shift4 Payments Lithuania, claims that the first businesses that were hurt by the protests are small businesses, bakeries or pharmacies established by families .
“After destroying such a place, there is nothing left: the business stops, there are no goods, there are no services, all that remains is to wait for the insurance payment.”
If you understand, great, but the question is whether the riots will not be considered Force Majeure (force majeure) situation in which the insurance refuses to cover losses “, 15 minutes said the businessman.
Julius Kalinskas photo / 15min / Tadas Vizgirda
Some American merchants at the epicenters of protests and riots have decided to close their stores indefinitely, including Apple, Walmart, or Target. However, according to T. Vizgirda, it won’t have a bigger impact on the big boys, because they have so many outlets and places where the riots don’t break out, and the riots won’t last forever.
He is also supported by Aurimas Adomavičius, a Lithuanian businessman working in Chicago, who claims that the most painful consequences are still awaiting Minneapolis, where the riots are fiercer.
According to the head of the information technology company Devbridge, the protesters achieved their goal.
“The protest must be made: to raise the injustice or problems we have to such a level that everyone is uncomfortable with the problem.” 15 minutes A.Adomavičius spoke.
“In the United States, we are already a fairly fragmented society that is highly fragmented economically, socially, and geographically, so we generally don’t feel the problems of others,” he added.
Personal file photo / Aurimas Adomavičius
For his part, T. Vizgirda affirmed that the growing riots promote an atmosphere of fear.
“Small businesses are often the first attempt by people to create something in their contract work after many years of work. When such things happen, those people can throw everything away for fear that it will happen again,” said the head of Shift4 Payments Lithuania.
Impact on the economy
Protests and riots in the United States are fueling a debate about what their impact will be on the country’s economy, already shocked by the new coronavirus outbreak.
Apocalyptic images of United States city streets may give the impression of public life, but A. Domavičius says they reflect only part of reality.
“Doubts arise from loss of control, the media also pose problems at the next level, but living in Chicago, I see such a polarizing reality.” “One day there are riots, and the next day the bars open,” said the businessman.
US stock indices USA They are also showing signs of optimism, steadily increasing after falling at the start of the pandemic.
“Promotions always reflect the trust of companies and people in terms of the impact of the processes. (…) I think the protests did not have much effect on the propensity to consume. Due to the fact that protests are taking place, people will not stop spending money on food or television, “said A. Domavičius.
Vizgirda said the declining US economy is likely to recover slowly, but not due to protests, but to declining consumption due to a sharp rise in unemployment.
Julius Kalinskas photo / 15min / Tadas Vizgirda
“It just came to our attention then. I myself have a lot of acquaintances who have lost their job or are depressed.” Of course, they save, they don’t really waste money and they don’t plan vacations and they don’t know when life will return to normal, “he said.
According to the entrepreneur, some entrepreneurs may be deterred from investing by the atmosphere of fear in the United States.
He adds that many more problems could arise if the police officers linked to Flyd’s death were eventually acquitted.
AFP / Scanpix Photo / George Floyd
“Then we would see a real revolt in the United States. What we see now is just start“Stated T. Vizgirda.
Victims of the Anti-Racism Fund
A. Domavičius, head of Devbridge, said the company intends to donate money to an unelected fund to combat racism.
“We want to contribute not only with words, but also contribute with something material. Saying that there is a body and helping financially is another very different one,” he said.
The businessman said he planned to start a campaign for the electoral victims of Devbridge employees, and that the company itself would add the same amount to the amount raised.
T. Vizgirda said that systemic racism in the United States should not be found guilty, because it has always existed.
“Racial inequality has not disappeared since the beginning of America, it is only changing shape. The biggest problem is that the system itself does not “address” this problem. We can blame Republicans, Democrats, or whatever they want, but basically everyone who ruled the country during 244 years of independence is to blame, “said the head of Shift4 Payments Lithuania.
“As a semi-American, it is very difficult for me to see this, especially when I am in Lithuania, where my hands are tied to this issue.” I’m ashamed, “he added.
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