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A recession is near-guaranteed—so how do global policymakers minimise the damage?

Flatten the curve of the economic shock

By Megan Greene  

US Federal Reserve Chairman Jerome Powell. Photo: Xinhua News Agency/PA Images

The global supply, demand and financial shocks that have stemmed from the spread of the novel coronavirus are very likely to spark a global recession. The hard data are still too lagged and backwards-looking to show the impact of the coronavirus on global growth, but we definitely know the direction: down. Whether a recession occurs, and how deep and long it lasts, depends on two things: epidemiology and policy.

Social distancing has been employed from Asia to the…

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