- Foreign Affairs
The Global Economy Will Never Be the Same
The Pandemic Depression. The World Bank estimates that as many as 60 million people globally will be pushed into extreme poverty as a result of the pandemic.
The pandemic has created a massive economic contraction that will be followed by a financial crisis in many parts of the globe, as nonperforming corporate loans accumulate alongside bankruptcies. Sovereign defaults in the developing world are also poised to spike. Read more ...