THE economic destruction caused by Covid-19 pandemic is becoming more widespread and real. The European Union’s economy shrank 3.8 percent in Q1 2020 compared to the previous quarter. The United States also saw serious contraction. Year-on-year, the US economy grew by negative 4.8 percent at the end of Q1 2020. This global economic decline is already far deeper than in the 2008-2009 financial crisis. A worse comparison only exi