“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.”
But it should no be unexpected (Richard Baldwin, April 7, 2020).
PHOTOGRAPH BELOW: Polychaete imitation of the 'shock and awe' expression in humans.