Adaptation rather than reinvention

Submitted by Business Link Web on Thu, 10/29/2020 - 10:21

By Mauricio Zuluaga 

The last time the world saw the majority of countries falling into recession at the same time was in 1870. That period, known as the Long Depression, was generated by a decline in the value of silver, and it is considered the first international economic crisis. Today, the World Bank points at the COVID-19 crisis as the deepest recession in 250 years. The international financial institution forecasts that the global economy will shrink by 5.2% this year, twice as great as in 2008.