Global depression 2
When the COVID-19 virus first started taking a toll on lives in the US, a complacent Donald Trump stated that the virus was nothing major, and merely just go away. How wrong he was.
The impact on the economy of the US needs no repetition as we have seen the financial stock markets crash to records not seen in a century, in fact, since the great depression of 1929, and we have also seen unemployment surge to figures fast approaching 20 million people. Should a depression or a prolonged recession hit the US, then there is a very good chance that the US could be replaced as the worlds largest economy with some big hitters already on the tails of the Americans.
The first, and obvious contender to take the crown at the top is China, which has seen decades of growth as the worlds production line. The impact of the COVID-19 certainly hit hard I China, yet the recovery has already started, and China have on many occasions shown they are resilient and adaptable to change, meaning that if anyone can emerge from the economic slump, its China.
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