09 Apr 2020 01:27AMPARIS: Measures imposed to slow the spread of the coronavirus are pushing the world economy into a recession deeper and more painful than initially expected, even if a rebound is still on the cards for next year.
That would be twice as deep as the contraction Germany suffered in 2009 as the global financial crisis hit the continent, and it would constitute the country's worst performance since the institutes began keeping records in 1970. Meanwhile, the World Trade Organization said on Wednesday it expects world trade to tumble by between 13 and 32 per cent this year.
The chief economist of the Organisation for Economic Co-operation and Development , Laurence Boone, told France Inter radio Wednesday that every month in lockdown would lead to 2.0 per cent decline in annual gross domestic product.
Isn’t it because of China?
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