Covid-19: what will happen to the global economy?

The covid-19 pandemic has caused economic chaos and uncertainty. Zanny Minton Beddoes, our editor-in-chief, and Edward Carr, our deputy editor, answer your questions about the global economy

Further reading:

Questions
00:25 - Will the economic shock caused by imposing lockdowns prove more costly than the pandemic itself?
01:52 - How could an economic recession shift the global balance of power?
02:34 - Will this be a chance for China to become the global financial hub?
04:53 - Which countries are most vulnerable to the effects of covid-19 and why?
06:22 - What will the impact on the jobs market be for those graduating in 2020?
08:43 - Has the pandemic made globalisation look like a liability?

[TheEconomist]

00:25 - Will the economic shock caused by imposing lockdowns prove more costly than the pandemic itself?
01:52 - How could an economic recession shift the global balance of power?
02:34 - Will this be a chance for China to become the global financial hub?
04:53 - Which countries are most vulnerable to the effects of covid-19 and why?
06:22 - What will the impact on the jobs market be for those graduating in 2020?
08:43 - Has the pandemic made globalisation look like a liability?

[Natalieneptune]

My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in the US.

[michealchiesa]

If you don't find a means of
multiplying money, you will wake up
one day to realise that the money you
thought you had, has finished.
Investment is key.

[nurulainselamat]

The times are bad, even The Economist have to meet YouTube 10 minutes quota

[AC-idow]

The problem with modern economies is this idea of constant unregulated growth. Or to put it another way, greed.

[cvrajendra]

In India, 2 out of 5 restaurants have shut permanently.... 3 out of 10 factories have closed permanently

[gkm]

“It’s a recession when your neighbor loses his job; it’s a depression when you lose your own.”
― Harry S. Truman

[MichelleStevens-hktg]

The rich stay rich by spending like the poor and investing without stopping then the poor stay poor by spending like the rich yet not investing like the rich

[justmikey]

this lady probably reads more books in a single month than my entire life

[chizzithemagicfingers.]

Admist this pandemic asset management got me where I'm today. Indeed it takes patience to get rewards and with the right institute it's highly remunerative irrespective of the up downs in the economy.

[HienTruong-hjqf]

THERE’S NO AMOUNT OF MONEY THAT CAN SAVE US FROM OURSELVES!

[luvshopnz]

We live in fiji, completely covid free for over 2 months. But our economy which is majority dependent on tourism is severely effected

[jon]

This just proved my argument with my classmate in college. We shared what part time jobs we had, she was a life guard and I worked at a bank. She told me her job saves lives but I told her unfortunately for my job a majority of people value money more than lives and she agreed with me. It seems like the government is more concerned about the economy more than the well-being of people.

[Rayji]

Nobody knows what to expect and probably this is what makes the post-pandemic scenario so scary.

[greetingsearthlingsmynamei]

A house of cards survival is utterly dependent on the lowest tier. Knock it out and the whole thing falls.

Take care of your poor and homeless.

[groooah]

They expect a 2, 2% recession here in Germany. It sounds like it is almost nothing, but apparently it is something to panic about. I mean, they lowered our VAT so we buy more. I am not sure if I want to know how the future looks, yet I am curious.

[PakBudiTarigan]

in my country people are more afraid of starving to death than death due to corona

[ryosukeokazawa]

Summary
•Government policies in terms of costs on economy between lockdown and not lockdown have not been bringing any obvious results. 
•Since China doesn’t have convertible currency, it is not possible to govern global market. However, China and some other developing countries have strength in financial technologies. 
•The country which seems to be the most vulnerable is some developing countries which the government has to rely on USD borrowing, and reliant on tourism. 
•Many areas of economy will not go back to old economy after COVID-19, and people have any certain skills such as computer programming are in a better situation.
liability. Important thing is to diversify the supply chain.

[chris-hutm]

Worst recession? I work more thn ever before, its so much to do Ive basically gone from 40h/week to 75h/week. The work is still there it just shifted from one branch to another, making some jobless while others working 2 full time jobs

[TinaLeder]

On a side note, we need to stop saying the *"new normal"*
Here here?🙋‍♀️