Enduring the Hardship till the Cure Comes
Tuesday, April 7, 2020
THE global financial market is embracing the mother of all crisis. Analysts are increasingly convinced that the market collapse caused by the Covid-19 pandemic will be worse than the 2008 crisis, and indeed every other crisis in history.
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Various data at the end of Q1 of 2020 depicts a world economy that has been severely damaged. Instead of growing, the global economy might fall into a deep contraction throughout 2020.
One example is unemployment numbers in the United States. In normal conditions, there would be around 500,000 people claiming unemployment insurance every two weeks. At the end of March, the number of these claims jumped to nearly 10 million—20 times of the
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