Topic: Is the world facing a global depression?
In my research I discovered that richer countries are surviving this global recession by borrowing large amount of money from the central bank and indebting the country further. In the other had poor countries don’t have the advantage of doing this and rely on other countries for financial help. I also learned that countries heavily depends on globalization . Although with the covid-19 pandemic the slowing down of import and exports of goods has affected significantly the world economy. Some economists say that not all hope is lost if countries collaborate to help each other out.
How did the Covid -19 pandemic push the world into a global depression?
Can this depression trigger a world war?
What can be done to survive this recession?
How long will this Global Depression last?
I wonder if these questions are answerable? I imagine that economists are talking a lot about these things. Would it make sense to ask something like:
How can countries (or the US, or some other specific country –whatever you prefer to focus on) work to prevent a long term economic depression from the effects of Covid-19?