Jeffrey Frankel: Coronavirus threatens to trigger the next global recession
The Covid-19 outbreak may herald the end of the era when steadily rising international trade buttressed global peace, writes
AT THE start of this year, things seemed to be looking up for the global economy. True, growth had slowed a bit in 2019: From 2.9% to 2.3% in the US, and from 3.6% to 2.9% globally. Still, there had been no recession, and as recently as January, the IMF projected a global growth rebound in 2020. The new coronavirus, Covid-19, has changed all of that.
