modern economy crumble. what will happen next?

in case the crisis lasts longer, globalization may come to an end. The longer the crisis lasts, the bigger the current situation will look like a new norm.

By the end of 2021, only China will return to the pre-crisis level of large economies, according to McKinsey and Oxford Economics. Global GDP will reach the level of the fourth quarter of 2019 in the third quarter of 2022, while the US GDP in the first quarter and the eurozone in the third quarter of 2023 (all estimates assume an error of plus or minus one quarter). I think that we will still remember very long about this time of difficult changes.

To date, there is no exact recipe for resuming the economy. The soap bubble burst. This has been predicted for a long time. It’s just not everyone understood it yet. Time will tell. In two years, I think a lot will change in that order.

People have been predicting the end of the modern economy since the 1800's. It is hear to stay guys, just get used to it and make the best of it you can

he crisis of 2020 will surely go down in history. After all, this is probably the first time in the world economy when production, financial markets, and consumer demand for goods and services collapsed simultaneously. All previous crises have developed in a different way: first, one thing fell (such as the mortgage market in the United States in 2007), and a few months later, the problems spread to related sectors of the economy.
Another distinctive feature of the current economic downturn is the speed of its development: it took only a couple of months for the whole world to understand that very difficult times are ahead of us. And few people can say with certainty how big the economic losses will eventually be, as the coronavirus pandemic — the main cause of the crisis-continues to spread.

Let's hope that over time it will recover.

The international monetary Fund expects the world economy, which grew by 3% last year, to contract by the same amount this year. Growth will resume in 2021, and according to the IMF forecast, it will be quite fast.

Meanwhile, for the Euro zone economy in 2020, the IMF predicts a decline of 7.5%, which will also be replaced by rapid growth in 2021.

A similar situation will occur in the United States, where 30 million people have already lost their jobs.

Growth in the dynamic Asian economy will slow to 1% this year, while China's GDP shrank by an unprecedented 7% in the first quarter.

Oil prices have become more volatile than ever before. The cost of North sea Brent oil fell to $ 26 per barrel, and the cost of the American brand WTI in April went into negative values.

Against the background of the problems of the traditional economy, businesses built on Internet platforms are thriving. So, shares of Amazon jumped by 27%, Netflix-by 29%, and the popular video conferencing platform Zoom - by 130%.

The economic situation in Italy already left much to be desired: it was affected by the global economic crisis and domestic political instability, as a result of which the Peninsula showed only 0.2% growth last year. For this year, the Italian authorities planned an increase of 0.6%, but this was before the epidemic

Alessandro566554 posted:
The economic situation in Italy already left much to be desired: it was affected by the global economic crisis and domestic political instability, as a result of which the Peninsula showed only 0.2% growth last year. For this year, the Italian authorities planned an increase of 0.6%, but this was before the epidemic

I think that soon the situation will stabilize

From an economist's point of view, this time is unique in its complexity. We are experiencing a double shock — supply and demand. This makes the task of countering the crisis extremely difficult — because countering these shocks requires the opposite economic policy measures. The key question is: how to find a balance of anti-crisis measures that solve both tasks simultaneously?

Leonardo00888 posted:

Alessandro566554 posted:
The economic situation in Italy already left much to be desired: it was affected by the global economic crisis and domestic political instability, as a result of which the Peninsula showed only 0.2% growth last year. For this year, the Italian authorities planned an increase of 0.6%, but this was before the epidemic

I think that soon the situation will stabilize

Well it surely should.

I honestly still do not see any terrible danger and I still believe that everything will be fine.

according to my forecasts, the market will be sausage for another two years,

I advise everyone to stop panicking and spread false rumors

The economy is most likely not collapsing but is being rebuilt to meet the new realities of this world. This is a conditional name. it will exist as long as there are people. it will just have different types, forms, and rules.

It’s time that we accept this reality and hope for the betterment of everything.

That there will be changes, of course, can no longer be doubted.

In my view, it will take time but economies will recover soon by the end of the year. Major countries doing whatever it takes to control the pandemic and to recover the economy. Countries are planning for massive stimulus and planning policies to combat the virus impact.

Matthias53636et posted:
As you can see, this was another round of economic movement, and as my forecasts showed, nothing critical happened to it.

I agree with you about the next round in the economy, but it's not clear to what realities it will lead us