There will be no easy cure for a recession triggered by the coronavirus | Simon Jenkins
by Simon Jenkins from on (#50EM0)
An economic collapse may have already begun and globalisation will make recovery more difficult
The world appears to be on the brink of a sudden recession. The economic disruption caused by the coronavirus might put an end to what has been a heady decade on the world stock market since, after the 2008 global financial crisis, low interest rates and quantitative easing became the new normal. Today's markets are registering massive falls of up to 10%, unprecedented since 2008. Billions of dollars and pounds are vanishing. It is Black Monday all over again.
The coronavirus has shown a world vulnerable to fear of illness. We have yet to experience its vulnerability to the economic consequences of that fear
Related: Coronavirus won't end globalisation, but change it hugely for the better | Will Hutton
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