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- COVID-19 has caused an economic shock three times worse than the 2008 financial crisis. Europe and emerging markets have been hit hard economically, China has escaped a recession. But the worst could be behind us, and a greener economy could emerge after the pandemic, according to the Chief Economist at IHS Markit.
www.weforum.org/stories/2020/09/an-economist-explains-what-covid-19-has-done-to-the-global-economy/
Jan 30, 2024 · Economic downturn was considered the number one risk over the next two years by a significant number of regions, including the US and over 20 European countries. The report recommends localized strategies as well as cross-border coordination to tackle these global risks.
Sep 24, 2023 · The Canadian economy is headed for a rough patch. Growth has already slowed considerably. Job growth has moderated. Inflation remains stubbornly high. But the pain households are feeling today is...
Jul 26, 2022 · Still reeling from the COVID pandemic and Russia’s invasion of Ukraine, the global economy is facing an increasingly murky and uncertain outlook, according to the latest report released on...
Jan 25, 2023 · A series of severe and mutually reinforcing shocks — the COVID-19 pandemic, the war in Ukraine and resulting food and energy crises, surging inflation, debt tightening, as well as the climate emergency — battered the world economy in 2022.
Oct 25, 2022 · A crisis hits when those market changes reach extremes. Crises are severe in a way that damages the structure of the market, leading to contagions in other parts of the financial system.
Apr 14, 2020 · The world has changed dramatically in the three months since our last update of the World Economic Outlook in January. A rare disaster, a coronavirus pandemic, has resulted in a tragically large number of human lives being lost.
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Financial crises are, unfortunately, quite common in history and often cause economic tsunamis in affected economies. Below you will find a brief description of five of the most-devastating financial crises of modern times.
