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Opinion | The great whiplash suffered by the global economy
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There is still a lot we don’t know about covid-19, which is a reality that should inspire both worry and hope We know from history the devastation caused by the Great Depression of the 1930s, and most of us know from experience the Great Recession following the 2008 global financial crisis.
But we have never seen anything like the covid-19 crisis. The pandemic will leave deep psychological scars, but its most striking feature is the speed and ferocity with which containment efforts have hit the global economy.
Call it the Great Whiplash. In the US, more than 17 million people filed for unemployment benefits last month. The week of 28 March, a record 6.9 million people did, a figure that would have seemed unbelievable just a few weeks
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COVID-19
United States
|
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
|
India
|
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
|
Brazil
|
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
|
United Kingdom
|
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
|
Russia
|
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
|
