How will the Covid-19 crisis reshape the global economy?

Financial data

Kathy Harvey, Associate Dean, MBA and Executive Degrees led a panel discussion withBige Kahraman Alper,Dimitrios TsomocosandAlan Morrisonon the implications for the global economy and the shifts we are likely to see in the financial system in the wake of the Covid-19 pandemic.

Summary

'This could become the worst economic contraction in a century.'

That was one of the views shared in a panel discussion about how Covid-19 might impact the global economy, attended by Alan Morrison, Dimitrios Tsomocos and Bige Kahraman Alper; and chaired by Kathy Harvey, Associate Dean, MBA and Executive Degrees.

According to the panel, the global economy is now facing a 'perfect storm' of challenges – including falling GDP and employment, rising claims for benefits, increased panic and volatility in markets; and high levels of corporate, government, and 'zombie' debt.

That context prompted wider discussions around potential 'de-globalisation;' and whether we might face the 'end of capitalism,' as governments inject $8tn-worth of fiscal support into economies.