Tightrope world economy

By Simplify Crypto | Simplify Crypto | 13 Sep 2020


For the OECD, the outlook for the economy is one of great uncertainty. since the COVID-19 pandemic unleashed serious damage to people's health, employment and well-being, being one of the most serious crises of our century.

The OECD projected two scenarios: One with a second wave of infections before the end of the year, which would lead to a return to lockdowns, in which world production would plummet 7.6% this year before rising back 2.8% in 2021 and which would double to almost 10% the unemployment rate of OECD member countries, with a slight recovery in 2021.

In the second scenario, in which a new wave of infections is avoided, global economic activity would fall by 6% in 2020 and the unemployment rate in OECD countries would jump to 9.4%. To give you an idea, in December 2019 this projection was 5.4%

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With or without a second wave, the consequences for the economy will be serious and will last for a long time to come, with the loss of revenue exceeding that of all previous recessions in the last 100 years, except during periods of war, with a drop in the standard of living and 5 years of lost income growth until 2021, with consequences for populations, companies and governments.

 

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Therefore, regardless of what may happen during the rest of the year, all countries will go through difficult periods.

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Simplify Crypto
Simplify Crypto

Trying to help people to understand the crypto world from the basic concepts to the crypto projects purpose. My articles are publish in Publish0x and Hive

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