Global economy will suffer for years to come, says OECD
Angel Gurria, who is the secretary-general of the OECD has said that this economic crisis caused by the COVID-19 will be bigger than the 2001 terror attacks and the 2008 financial crisis. He said: "And the reason is that we don't know how much it's going to take to fix the unemployment because we don't know how many people are going to end up unemployed. We also don't know how much it's going to take to fix the hundreds of thousands of small and medium enterprises who are already suffering."Governments around the world have been taking unprecedented actions to support the workers and businesses during this outbreak.
So, how much do you think this global outbreak is going to last and how big of an impact do you think it will have on the global economy?
https://www.bbc.com/news/business-52000219
https://www.bbc.com/news/business-52000219
2 comments:
Personally, I do believe what many different people in the federal government including the President has said, that once the virus becomes more controlled that the stock market will rebound back to normal. However, I could see this having a lasting impact on the next couple of years as this will hurt small and medium sized businesses very much over the next year.
I believe we have a few more months until we reach the curve of this pandemic. Warmer weather I think will play a factor in decreasing the number of cases, similar to the flu. I agree with Scott that this will have an impact on our economy for the next couple of years due to how hard smaller businesses are getting hit from the lack of economic activity.
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