Will the 2020 world economic crisis brought about by the pandemic be greater than the 2008 world trade collapse?
“In today’s COVID-19 crisis. we have all the makings of the 2008-2009 demand-side shock, but on top of that, we have massive-supply-side shock across most sectors of most major economies…. The 2020 world trade collapse will be big, sudden, synchronized, and broad.”
https://voxeu.org/article/greater-trade-collapse-2020
But it should no be unexpected (Richard Baldwin, April 7, 2020).
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PHOTOGRAPH BELOW: Polychaete imitation of the 'shock and awe' expression in humans.