{"id":13474,"date":"2020-04-14T10:32:10","date_gmt":"2020-04-14T09:32:10","guid":{"rendered":"https:\/\/www.worldpolicyconference.com\/?p=13474"},"modified":"2020-04-23T16:35:17","modified_gmt":"2020-04-23T15:35:17","slug":"coronavirus-to-spark-brutal-economic-meltdown-as-global-system-to-crash-for-years","status":"publish","type":"post","link":"https:\/\/www.worldpolicyconference.com\/fr\/coronavirus-to-spark-brutal-economic-meltdown-as-global-system-to-crash-for-years\/","title":{"rendered":"Angel Gurr\u00eda – Coronavirus to spark ‘brutal’ economic meltdown as global system to crash ‘for years’"},"content":{"rendered":"

CORONAVIRUS could result in a brutal global economic crash that strong economies like the UK, US and Canada struggle to recover from.<\/h3>\n
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By\u00a0GERRARD KAONGA<\/a><\/div>\n
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Angel Gurr\u00eda of the Organisation for Economic Co-operation and Development explained that many countries will see no growth or negative growth for 2020. He added the job losses caused by\u00a0<\/span>coronavirus<\/a>\u00a0will result in many economies struggling after the pandemic has been resolved. While speaking to BBC’s Victoria Derbyshire Mr Gurr\u00eda noted small, and medium businesses would be struck hard from the swing in the economy and even large global economies like the UK, US and Canada will struggle in the future.<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Mr Gurr\u00eda<\/strong> said: \u00ab\u00a0Coronavirus is going to affect us very seriously.\u00a0\u00bbIt affects the social, human, the health side and it will leave very big wounds and eventually scars on the economic side.<\/p>\n

\u00ab\u00a0This is because of the unemployment impact, the tens of thousands perhaps hundreds of thousands small to medium enterprises (SME) livelihoods will be at stake.\u00a0\u00bb<\/p>\n

Mr Gurr\u00eda<\/strong> went into greater detail of the sectors that would suffer immensely due to the coronavirus, even after the pandemic.<\/p>\n

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Coronavirus ‘wounds and scars’ to result in ‘brutal’ global economic crash ‘for years’\u00a0(Image: Getty)
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Mr Gurr\u00eda<\/strong> claimed countries across the globe will be dealing with the economic fallout for years to come and it will result in a time of economic uncertainty.\u00a0(Image: BBC)<\/span><\/span><\/p>\n<\/div>\n

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He said: \u00ab\u00a0Of course, you have to remember the very seriously hit sectors like tourism, service sector and hospitality sector.<\/p>\n

\u00ab\u00a0You can see all the businesses associated with those sectors facing an explosion, like in the US, Canada, the UK and elsewhere.<\/p>\n

\u00ab\u00a0All these unemployment claims that are happening by the millions over a few days is showing just how dramatic and brutal the problem will be.\u00a0\u00bb<\/p>\n

The economic expert has previously warned economic growth will slow down significantly following the coronavirus pandemic.<\/p>\n<\/div>\n

Mr Gurr\u00eda<\/strong> noted small, and medium businesses would be struck hard from the swing in the economy and even large global economies like the UK, US and Canada will struggle in the future.<\/span><\/p>\n<\/div>\n

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Mr Gurr\u00eda<\/strong> claimed countries across the globe will be dealing with the economic fallout for years to come and it will result in a time of economic uncertainty.<\/span><\/p>\n<\/div>\n

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In late March he told the BBC: \u00ab\u00a0Even if you don’t get a worldwide recession, you’re going to get either no growth or negative growth in many economies of the world.<\/p>\n

\u00ab\u00a0This is including some of the larger economies.\u00a0\u00bb<\/p>\n

\u00ab\u00a0Therefore you’re going to get not only low growth this year, but also it’s going to take longer to pick up in the future.\u00a0\u00bb<\/p>\n<\/div>\n

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Mr Gurr\u00eda<\/strong> has also claimed the coronavirus economic impact will be more dramatic than that of the 9\/11 terrorist attacks or the 2008 financial crisis.<\/span><\/p>\n<\/div>\n

Mr Gurr\u00eda<\/strong> has also claimed the coronavirus economic impact will be more dramatic than that of the 9\/11 terrorist attacks or the 2008 financial crisis.<\/span><\/p>\n

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He said: \u00ab\u00a0We don’t know how much it’s going to take to fix the unemployment rate because we don’t know how many people are going to end up unemployed.<\/p>\n

\u00ab\u00a0We also don’t know how much it’s going to take to fix the hundreds of thousands of small and medium enterprises who are already suffering.\u00a0\u00bb<\/p>\n

Read the article on The Express<\/a>.<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

CORONAVIRUS could result in a brutal global economic crash that strong economies like the UK, US and Canada struggle to recover from. By\u00a0GERRARD KAONGA PUBLISHED:\u00a014:56, Mon, Apr 6, 2020\u00a0| UPDATED:\u00a018:43,<\/p>\n","protected":false},"author":3,"featured_media":13476,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[38],"class_list":["post-13474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-room","tag-38"],"_links":{"self":[{"href":"https:\/\/www.worldpolicyconference.com\/fr\/wp-json\/wp\/v2\/posts\/13474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.worldpolicyconference.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.worldpolicyconference.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.worldpolicyconference.com\/fr\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.worldpolicyconference.com\/fr\/wp-json\/wp\/v2\/comments?post=13474"}],"version-history":[{"count":0,"href":"https:\/\/www.worldpolicyconference.com\/fr\/wp-json\/wp\/v2\/posts\/13474\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.worldpolicyconference.com\/fr\/wp-json\/wp\/v2\/media\/13476"}],"wp:attachment":[{"href":"https:\/\/www.worldpolicyconference.com\/fr\/wp-json\/wp\/v2\/media?parent=13474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.worldpolicyconference.com\/fr\/wp-json\/wp\/v2\/categories?post=13474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.worldpolicyconference.com\/fr\/wp-json\/wp\/v2\/tags?post=13474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}