In the World Economic Situation and Prospects unveiled today, the UN said in 2020, the world economy shrank by 4.3 percent, over two and half times more than during the global financial crisis of 2009.
The report underscores that sustained recovery from the pandemic will depend not only on the size of the stimulus measures, and the quick rollout of vaccines, but also on the quality and efficacy of these measures to build resilience against future shocks.
“We are facing the worst health and economic crisis in 90 years. As we mourn the growing death toll, we must remember that the choices we make now will determine our collective future,” said UN SecretaryGeneral António Guterres, who will address the Davos Agenda event later today. Read more…..
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We need less, not more government intervention, and the stimulus that Americans have received is only going to exacerbate the current economic bubble that we’re in, said Ron Paul, former Congressman and host of the Liberty Report.