A Looming Global Recession？On the Ground Observations from China and Italy
British Prime Minister Sir Winston Churchill is credited for having once said, "Never let a good crisis go to waste." While he wasn't talking about health pandemics, his expression is nonetheless just as apt today as it was when he said it. As the world battles coronavirus (COVID-19), hard lessons learned on how to combat the virus by China and Italy are being repeated. Yet the virus continues to grow stronger. Prompting the question, what can the rest of the world learn from China and Italy's combined experience to stop the spread COVID-19, which has already taken over 10, 000 lives?
The virus has caused a lack of credible information, uncertainty, panic selling in the stock exchange, and panic buying of masks and health equipment. Join us as we bring Long Chen in China and Michael Spence, currently at ground zero in the fight against COVID-19 in Northern Italy together to discuss what's at stake for our global economy and shared global future.
The discussion will center around underlining uncertainties as global leaders, corporations, and citizens around the world try to grapple with the trade-offs between economic losses and virus containment—the short-term and long-term impact of the virus and whether the pandemic will usher in a global recession. And digital technology's role in combating the virus.
The live-streamed discussion is slated for March 22, 2020, at 9 am EST on our youtube channel.
Michael Spence is the recipient of the 2001 Nobel Memorial Prize in Economic Sciences and current William R. Berkley Professor in Economics & Business at the Stern School of Business.
Long Chen is Managing Director of the Luohan Academy and Executive Provost of the Hupan School of Entrepreneurship. He previously served as Ant Financial's Chief Strategy Officer.
Hosted by television anchor Cheng Lei.