
The impact of Covid-19 on the global economy.
The impact of Covid-19 on the global economy.
COVID-19 has sent shock waves through the world economy and triggered the largest global economic crisis in more than a century. Here, author Jonathan Woetzel provides a brief overview of the COVID-19 pandemic, with an emphasis on its impact on inequality. He argues that although recovery from the crisis will be as uneven as its initial economic impacts, emerging economies and economically disadvantaged groups need more time to recover their losses. The crisis has brought back the most serious economic dimensions of the 1970s: high unemployment and debt, sharp increases in inequality. And this time, we may not be able to sustain those levels of inequality. We need a new approach to long-term economic policy—one that reflects the scale and impact of this crisis on our economy and society, and one that takes into account its continuing impact.
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