Where you are. Thank you for joining us for this Virtual Event on the po postcovid global outlook. Im a senior fellow and vicepresident of the economy and Development Program at brookings. The Global Economy is sharp, unprecedented in its depth. And the pandemic and responses have brought countries and economies to a standstill disrupting billions of lives and jeopardizing decades of development progress. The june edition of the World Bank Global economic prospects which motivates todays conversations envisions a 5 1 4 contraction of global gdp in 2020. This is the deepest global recession since world war ii and the largest collapse in per capita income since 1870. Its a timely report thats informed by assessment of the fundamental drivers of longterm growth, including the collapsing investments which will slow capital formations and in Human Capital and the location of trade and supply linkages among others. The pandemic is having a proportionate effect on lower Income Countries where
Distancing we take a look at how we can care for our Mental Health in the weeks and months ahead. Plus the coronavirus is shutting down germanys a critical Auto Industry forcing giants like b. M. W. And folks back and to stop production. Im sumi so much going to thank you for joining us travel into europe the current epicenter of the coronavirus and make is being severely restricted European Union leaders have agreed on a 30 day ban on travelers entering the bloc that decision will affect most noncitizens and non residents of the European Union with some exceptions it will be up to each member state to implement the new regulations german chancellor Angela Merkel said the e. U. Would do whats necessary to protect the Publics Health and the economy. All across Europe Movement is growing to get to a halt. In berlin chancellor merkel announced that even travel into the e. U. Will now cease in the eyes enough. Traveling to europe from countries that are not part of the European Union under
Already been turned upside down well bring you the latest developments also coming up the coronavirus of shutting down germanys critical Auto Industry forcing giants like b. M. W. And boats back and to stop production. Plus the coronavirus threat and greeces over crowded migrant camps tens of thousands of people are already living in squalor with little medical care now they are at risk of a potentially devastating outbreak our correspondent reports from the mandatory small reaction on the island of less just. Im serious oh my god its good to have you with us travel into europe the current epicenter of the corona virus and make is being severely restricted European Union leaders have agreed on a 30 day ban on travelers entering the bloc that decision will affect. Most noncitizens and nonresidents of the European Union with some exceptions it will be up to each member state to implement the new regulations german chancellor Angela Merkel said the e. U. Would do whats necessary to protec
Doctors and nurses this is hidden from the public. With your global news this is r. T. International thanks for joining us. Ok lets start with the latest figures on the cove in 1900 pandemic the number of cases worldwide has now surpassed 1508900 people have lost their lives the United States has the largest number of infections followed by spain and italy and worldwide 337000 people have recovered from the disease. Lets start with news from russia where the number of confirmed covert 9000 cases has passed 1001400 new infections have been registered in the last 24 hours most of them in moscow and since the start of the outbreak a total of 76. 00 people have died on the correspondent Saskia Taylor has the latest. Well in his recent addresses to the nation flaten akutan did say that neither globally nor in russia had the peak of the coronavirus pandemic past and it seems that todays late because do support that overnight russia has registered 1459 new case says that its highest daily ris
Lows fausting with a relief after more than 1hundred points lost in just two days. Investors are getting back into this market and theyre bargain hunting because the bottom line, yes, there is fear about the coronavirus but no one really knows what is going to happen. Weve seen a page from this kind of playbook before. Markets do tend to claw their way back. When ebola was a threat of july 2014 to march of 2016, there was a lot of volatility but the dow only lost half a percent overall. For sars, november 2002 to july 2003 the dow gained. From september 2001 to october october 2002 the dow lost a little more than 17 . You look at history, get a sense how investors reacted to all kind of different events, ebola, sars cases, they say that they tend to be blips, not events that define the market. Major corona headlines breaking today, the cdc confirming 14 cases of coronavirus and a u. S. Soldier in south korea testing positive as well. That is not to say this isnt something to worry abou