Coronavirus could give the next recession a 1970s feel
A shock to global supply chains and a retreat behind national borders could ultimately push inflation up, not down
It is too soon to predict the long-term arc of the coronavirus outbreak. But it is not too soon to recognise that the next global recession could be around the corner – and that it may look a lot different from those that began in 2001 and 2008.
For starters, the next recession is likely to emanate from China, and indeed may already be under way. China is a highly leveraged economy; it cannot afford ...