The American futurologist Peter Schwartz (Peter Schwartz) has warned that the world could plunge into another Great depression in the worst case scenario with the coronavirus. Reported by the Mirror.
The specialist noted that it is important to find a vaccine against new infections, or have to live in a “world pandemic”.
“And it’s the most likely scenario of economic depression and ongoing pandemic, where COVID is the new norm,” — said Schwartz.
Futurist believes that the world is currently suffering from the four “cascading crises” — health, economic, social, and leadership.
“we had some economic crisis, trade war, which is now intensifying. Now the social crisis created by the movement Black Lives Matter ["black Lives matter"]. And, finally, the crisis of leadership in some countries”, — said the expert, stressing, therefore, that there remains a scenario of the great depression because of the pandemic coronavirus.
In June, the world Bank predicted the future of the economies of the countries. They believe that the greatest losses in the developed countries whose total GDP decline will reach seven percent. Damage developing States will be less, their economy will decrease by 2.5 percent. It was also noted that the recession will be the first comprehensive for developing countries over the past 60 years. The crisis will be the deepest since the great depression, which began in the USA in 1929.
