Issued in the 979th issue of China News Weekly, 2021.1.4
As we enter the new year, one thing is obvious: the new crown virus will not disappear. Although we have achieved a substantial recovery from the economic downturn caused by the first round of blockade in the spring of 2020, the losses in global GDP and employment have been enough to make it the second or third worst economic recession in the past century. The new crown vaccine that has just come out cannot change this fact.
How much loss will the epidemic cause? The answer to this question depends on the economic policies implemented by the major countries in the coming months. The hysteresis effect has a large potential impact. The balance sheets of households and businesses that have been hollowed out can only be gradually restored; even if the virus is under control, companies that went bankrupt during the epidemic will not suddenly come back to life. and the recent direction of the economy is very difficult to interpret.
above was downloaded from internet baidu