Coronavirus News Asia

As deaths mount, virus attacks global economy

Live version of coronavirus map

The coronavirus pandemic is battering the world’s major economies and could trigger the deepest global recession in generations, experts warned Wednesday, as rising death tolls in Europe and the US dampened hopes for a quick turnaround.  

While the Chinese city where the virus was born has been released from its nearly 11-week lockdown, much of the West remains in the throes of a crisis that has killed more than 80,000 people worldwide.

Click on the above graphic to see a live version. Source: Johns Hopkins University

The hardest-hit countries, among them Italy, Spain, France and the US, are wrestling with how to balance public safety with the devastating impact of lockdowns that have shuttered whole sectors of  the economy and erased millions of jobs in a matter of weeks.

The economic forecasts are dire. 

The fallout “may well be the deepest economic recession or downturn of our lifetimes”, warned the chief the World Trade Organization, Roberto Azevedo.

Global trade growth could fall by up to a third this year, the WTO said. 

France has already recorded its worst economic performance since 1945 during the first quarter, shrinking some 6%.

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