As restaurants, stores, airlines, and factories begin to shut down around the globe amid the outbreak of COVID-19, economists are beginning to send warning signs that a global recession might no longer be a looming threat—it might already be here. While previous catastrophes such as SARS, the attacks on September 11, the meltdown at the Fukushima Dai-ichi nuclear power plant, and the collapse of the global financial markets in 2008 have disrupted the world’s economy in their own right, does the novel coronavirus have the potential to cause greater damage to the world’s economy than its predecessors? Trade expert and Flexport’s chief economist Phil Levy joins Council President Ivo Daalder for a video conversation to examine the current state of global trade and share insights on the looming economic uncertainty in the days, weeks, and months to come.
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