Corona virus and the global economy

Empty streets, closed shops and slow assembly lines. The corona virus paralyzes China's economy. The consequences of this affect the entire global economy. German companies that have massively expanded their China business in the past decades are particularly affected. The corona crisis shows the dark side of globalization. Gabriel Felbermayr, the president of the Kiel Institute for the World Economy, is not an economist who tends to be alarmed. All the more thoughtful should make his assessment of the possible consequences of the coronavirus. "I would even go so far as to say that the virus could prove to be a Lehman moment," Felbermayr said in an interview with the Handelsblatt. Like the bankruptcy of the US investment bank Lehman-Brothers in 2008, the current crisis could be the beginning of a less globalized global economy. Source: Handelsblatt