Anatomy of the Coronavirus Collapse
The world economy is experiencing a severe, simultaneous, and universal collapse unlike anything seen since World War II. And while the downturn could prove sharp but short, a more realistic assessment points to a long and protracted global recession.
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ITHACA – The world economy is on the precipice of its worst crisis since World War II. As the newly updated Brookings-FT TIGER (Tracking Indexes for the Global Economic Recovery) makes clear, economic activity, financial markets, and private-sector confidence are all cratering. And if international cooperation remains at its current level, a far more severe collapse is yet to come.