A Danish View on the Global Economical Outlook in the Shadow of COVID-19
20 August @ 17:00 - 18:30
DTCC Business Seminar – SAVE THE DATE NOW!
Following the global economy’s plunge into a historical deep recession due to the rapid spread of the Covid 19 virus, and the restrictions imposed to contain it, focus has now shifted to the path and speed of the economic recovery and also to what longer term and perhaps permanent damages the emergence of the virus might have entailed.
Don’t miss this event where one of the highly regarded Chief Economist Jes Asmussen from the Danish Bank, Handelsbanken, will make status on the current state of the revival of the global economy. Currently it seems inevitable that the recovery from the deep slump will be slow and prolonged. However, the unprecedented stimuli provided by central banks and governments around the globe does offer some glimmer of hope.
Looking beyond the recovery, we also see the virus having added to global risks. Government stimuli has led to a surge in debt loads, which we still consider a risk to the stability of European cooperation, which already is reeling from Brexit. This risk will be further enhanced by the outlook for increased inequality within the eurozone, which could add power to already rising populist movements.
According to the Danish economist the pandemic will also take the global economy further down the path towards de-globalization, as question mark’s with regards to high dependency on global supply chains will accelerate. The hostile environment between the US and China adds another layer to this discussion, and it looks more and more likely that the world will be divided into more distanced and separated economic blocks, which could force countries around the world to choose which block they will bet on as the global hegemon in years to come.