February 17. Novel coronavirus has spread in China, but in other countries the number of infected people is less than 1,000. Investors did not yet know that the epidemic would spread outside China. They could not apprehend that it will spread in Italy, South Korea, Spain, France, Germany, the United States and the United Kingdom in the next 30 days. As a result, the business has suddenly stopped, the stock market has collapsed and the central banks are being forced to take urgent action to cope with the situation worse than the global economic recession of 2008.
The global recession, which was unpredictable in 2020, is about to happen. Many experts warn that the global pandemic is pushing the economy towards recession. The worsed news is that the epidemic has only just begun. Yet there is much more damage left to happen.
Central banks and government are lowering interest rates, ensuring loans and exposing new spending. Taking steps to reassure investors and reduce the apprehension of companies and employees in securing a viable economic foundation for the future.