Why a Covid-19 recession would be different

With supply chains for parts and products beginning in factories that have been shut down in China, fiscal attempts to boost consumer confidence won’t work. People can’t buy things that aren’t there

8th March, 2020
Why a Covid-19 recession would be different
“The OECD believes that the computer, electronics, electrical equipment and transport sectors will be especially vulnerable.” Picture:Getty

Last Tuesday, the Taoiseach struck a tentative note, suggesting that the coronavirus outbreak “could result in a slowdown in growth in Ireland and a slowdown in global growth”.

Leo Varadkar’s cautious concern was echoed by the Minister for Finance the following night in his speech to Chartered Accountants Ireland. Paschal Donohoe described the public health issue as “the single most important near-term challenge facing the world economy”.

Here’s why...

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