A man walks past the New York Stock Exchange on March 9. The world should brace itself for a long drawn-out period of economic stagnation. Photo: AP A man walks past the New York Stock Exchange on March 9. The world should brace itself for a long drawn-out period of economic stagnation. Photo: AP
A man walks past the New York Stock Exchange on March 9. The world should brace itself for a long drawn-out period of economic stagnation. Photo: AP
Anthony Rowley
Opinion

Opinion

Macroscope by Anthony Rowley

There will be no dramatic Covid-19 economic collapse – or rapid recovery, the history of pandemics suggests

  • The staggering results of a new IMF study suggest Covid-19 could leave a generation or more with economic stagnation, depressed interest rates and low asset returns
  • The good news is that low borrowing costs is associated with higher real wages and make it easier for governments to finance stimulus measures

A man walks past the New York Stock Exchange on March 9. The world should brace itself for a long drawn-out period of economic stagnation. Photo: AP A man walks past the New York Stock Exchange on March 9. The world should brace itself for a long drawn-out period of economic stagnation. Photo: AP
A man walks past the New York Stock Exchange on March 9. The world should brace itself for a long drawn-out period of economic stagnation. Photo: AP
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