city New York Coronavirus Covid-19 United States economy city New York

Commentary: The great coronavirus pandemic will lead to another - of unemployment

www.channelnewsasia.com

NEW YORK CITY: The fallout from the coronavirus pandemic will be nothing like that of the 2008 financial crisis, nor will a V-shaped recovery be achieved through conventional stimulus – not even through truly massive conventional stimulus.

The world is at war with COVID-19, and in wartime, civilian production grinds to a halt and the only work that is needed is for the war effort itself.

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