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This is at least a global recession. It could also be a downfall, because economic shocks are worse than any event in history, including the 14 days kill corona challenge Stay Home and Practice shirt 1929. If the government of this century fails badly or worse What of the last century, we can prolong the recession for many years [The Great Depression lasted from 1929 to 1940 in the United States. It only ended when the Dual Ocean Naval Measure brought many people back to work – building warships and merchant ships for WW2.
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In some places – such as where I live – the economic costs are exaggerating. deliberately (knowing this is the case) – in the 14 days kill corona challenge Stay Home and Practice shirt hope of mitigating the medical crisis. Specifically, we closed early almost everything, IN SPITE OF there is no evidence we need to do this. Haven’t started climbing the curve yet, it will take several months before it can reach its peak here. Extend shutdown time. It is likely that the crisis has exposed problems with over-reliance on China as a source of raw materials and manufactured goods. So it is likely that this will change to some extent. While that is probably a good thing.