As global supply chains break, airlines slash flights, borders rise within nation-states, stock exchanges convulse with fear, and recession looms over economies, from China to Germany, Australia to the United States, we can no longer doubt that we are living through extraordinary times. What remains in question, however, is our ability to comprehend them while using a vocabulary derived from decades when globalization seemed a fact of nature, like air and wind. For the coronavirus signals a radical transformation, of the kind that occurs once in a century, shattering previous assumptions. In fact, the last such churning occurred almost exactly a century ago, and it altered the world so dramatically that a revolution in the arts, sciences and philosophy, not to mention the discipline of economics, was needed even to make sense of it. Read the whole thing. Virus Could Be the Last Nail in Globalization's Coffin — A. Gary Shilling Coronavirus Is China's Chance to Weaken the Liberal Order — Hal Brands A Look at Economies and Markets After Covid-19 — A. Gary Shilling Big Virus Shock Can Be Contained and Reversed — Mohamed A. El-Erian Coronavirus Could Very Well Slow by the Summer — David Fickling The Economic Response We Need to the Coronavirus — Michael R. Bloomberg Coronavirus Will Revive an All-Powerful State — Pankaj Mishra Close the Markets? Data and Psychology Say Maybe — John Authers Resist Your Inner Buffett. It's Time to Do Nothing — John Authers Saturday Stuff: Quarantine Edition In case you haven't reached the end of the internet yet, here are a few tips, tricks and facts to help get you through self-isolation. Stay healthy and safe out there, everyone, and thank the essential workers out there on the front lines. (At a six-foot distance, of course.) This is the Weekend Edition of Bloomberg Opinion Today, a roundup of the 10 most popular stories Bloomberg Opinion published this week based on web readership, plus some other stuff sometimes thrown in. |
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