Coronavirus: How deep will the new recession be?

DubaiThe coronavirus outbreak and its economic impact threatens to plunge the global economy into recession if the uncertainty continues beyond the second quarter.At economic powerhouse China, where the Covid-19 originated earlier this year, early indications of the impact on the economy are worse than initially forecast. “Surveys of China’s manufacturing and services sector plunged to record lows in February; automobile sales sank a record 80 per cent; and China’s exports fell 17.2 per cent in January and February,” according to a report by Centre for Strategic and International Studies (CSIS…

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