Some of the commentary in the piece from Reuters is very downbeat indeed.
- “The global economy is collapsing at a pace not seen since World War Two”
- “Staggered re-openings of economies until a vaccine is widely available imply more of a U- rather than a V-shaped recovery for the global economy.”
- “We are likely to see a deeper contraction in 2020 than during the global financial crisis. But so much depends on what comes next: how long the suppression measures last, what medical science can deliver, what further policy support is available”
- “What is already clear is that this is not just a short-term issue: the medium to long-term implications for global growth, debt levels, public policy and globalization are going to be vast.”
- “We are seeing credible claims in the UK and U.S. that millions/tens of millions are going to be unemployed – again taking us back to black-and-white memories of long queues of the jobless holding signs saying ‘Will Work For Food'”