Question

Financial crisis caused bt corona virus .Essay in 300 words​

Answer 1

Answer:

The WTO said global trade would fall this year by between 13% and 32%, giving a wide range because so much about the economic impact of the health crisis was uncertain. At the height of the financial crisis in 2009, trade dropped 12.5%.

Trade forecast 2020-2022 coronavirus

Global trade could fall by as much as a third, according to new forecasts.

Image: World Trade Organization

“These numbers are ugly and there is no way around that,” WTO Director-General Roberto Azevedo told a news conference.

Comparisons with the financial crisis and even the Great Depression of the 1930s were inevitable, he said. However, unlike then, banks were not short of capital and the economic engine was in decent shape