Container ships are docked at a container port in Qingdao in eastern Shandong province on October 8. China’s economy has experienced a rebound in recent months, but its recovery is unlikely to boost the global economy given the recent trend towards deglobalisation. Photo: AP Container ships are docked at a container port in Qingdao in eastern Shandong province on October 8. China’s economy has experienced a rebound in recent months, but its recovery is unlikely to boost the global economy given the recent trend towards deglobalisation. Photo: AP
Container ships are docked at a container port in Qingdao in eastern Shandong province on October 8. China’s economy has experienced a rebound in recent months, but its recovery is unlikely to boost the global economy given the recent trend towards deglobalisation. Photo: AP
Eswar Prasad
Opinion

Opinion

Eswar Prasad

Beware of overestimating global economic recovery from coronavirus

  • Despite some good news, many economies across the globe have flat or negative growth while central banks have fewer tools to respond than in 2008
  • Governments have only one good option – further aggressive fiscal stimulus, ideally via targeted government expenditure that could spur private investment

Container ships are docked at a container port in Qingdao in eastern Shandong province on October 8. China’s economy has experienced a rebound in recent months, but its recovery is unlikely to boost the global economy given the recent trend towards deglobalisation. Photo: AP Container ships are docked at a container port in Qingdao in eastern Shandong province on October 8. China’s economy has experienced a rebound in recent months, but its recovery is unlikely to boost the global economy given the recent trend towards deglobalisation. Photo: AP
Container ships are docked at a container port in Qingdao in eastern Shandong province on October 8. China’s economy has experienced a rebound in recent months, but its recovery is unlikely to boost the global economy given the recent trend towards deglobalisation. Photo: AP
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