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A unique crisis that opens the way to multiple regime shifts
Friday 11 June 2021
Market News
The absence of a financial crisis does not mean that the foundations are strong. The Covid-19 crisis has damaged significantly the global economy. Economies have become more fragile. Output losses have been particularly large for countries that rely on tourism and commodity exports and for those with limited policy space to respond. Inequalities have increased: young people, low-skilled workers, and women have been particularly affected, especially in emerging economies where an additional 95 million more people fell below the extreme poverty line in 2020. Income inequality has increased in both advanced and emerging economies.
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