The coronavirus outbreak could leave the world economy in its worst state since the global financial crisis, with fresh warnings economic activity could contract through the first quarter of the year.that up to two-thirds of the world's population could catch the virus, analysts are downgrading their expectations for the global economy as the impact on the tourism, manufacturing and services sectors grows.
It said global growth had already slipped to 2.8 per cent annualised through the December quarter, from 3.1 per cent in the September quarter.With containment measures across China weighing on economic activity and other countries putting in place their own restrictions, Capital Economics believes global GDP will shrink by 1 per cent annualised through the start of 2020.
"So, where the eurozone crisis, China hard-landing fears, the Fed's botched tightening cycle and the trade war failed to bring the world economy's growth streak to an end, the coronavirus looks set to succeed."
swrighteconomy But keep pushing stocks to all time highs.
swrighteconomy Perhaps it serves us all right for being so damn greedy!
swrighteconomy Maybe the economy is over leveraged, and policy makers should think about human thriving that is agnostic of economic growth capitalismisbroken degrowth donuteconomics