Earlier post on the Reuters poll shows global economy expected to have its steepest contraction on record this year
Some of the commentary in the piece from Reuters is very downbeat indeed.
JPM:
- "The global economy is collapsing at a pace not seen since World War Two"
- "Staggered re-openings of economies until a vaccine is widely available imply more of a U- rather than a V-shaped recovery for the global economy."
HSBC:
- "We are likely to see a deeper contraction in 2020 than during the global financial crisis. But so much depends on what comes next: how long the suppression measures last, what medical science can deliver, what further policy support is available"
- "What is already clear is that this is not just a short-term issue: the medium to long-term implications for global growth, debt levels, public policy and globalization are going to be vast."
Rabobank:
- "We are seeing credible claims in the UK and U.S. that millions/tens of millions are going to be unemployed - again taking us back to black-and-white memories of long queues of the jobless holding signs saying 'Will Work For Food'"
