The pandemic will cost the global economy as much as $4.1 trillion, or nearly 5% of all economic activity
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The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments on Friday related to the global economy, the work place and the spread of the virus.
COSTS MOUNT: The pandemic will cost the global economy as much as $4.1 trillion, or nearly 5% of all economic activity, according to new estimates from the Asian Development Bank.
The regional lender said Friday that growth in developing Asia would likely fall to 2.2% in 2020, more than halving last year’s growth of 5.2%. China, the region’s biggest economy, experienced double-digit contractions in business activity in January-February and will likely see growth fall to 2.3% this year. That’s compared with 6.1 last year, already a…
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