The downside risk to the global outlook will be huge in 2020, and a vast majority of the economies worldwide will slip into recession within the first two quarters. A #globalcrisis has already arrived, according to CF40 member Sun Mingchun. mp.weixin.qq.com/s/3zRS8bCLzxdk…
The crisis is mainly manifested in the following three facets.
First, the Coronavirus disease (#COVIDー19 ) has evolved into a "pandemic" prevalent throughout the whole world, bringing about a worldwide public health crisis.
Second, with some major economies recording #negativegrowth in the fourth quarter of 2019 , it is conceivable that an overwhelming majority of economies are doomed to a recession within the first two quarters of 2020.
Third, the volatility of global financial markets has spiked to crisis levels, where nearly all asset classes are undergoing violent fluctuation.
There is no doubt that the global crisis has arrived, while how the crisis would evolve, how many secondary hazards would be triggered, and which institutions would be affected remain mutable.
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