Stimulus packages avert 1930s-style depression

TheStar Sat, Mar 28, 2020 09:00am - 4 years View Original


WHEN the conoravirus (Covid-19) first hit the news sometime in December last year, nobody would have thought that it would lead to a global crisis. Two weeks ago, many were staring at a 1930s kind of depression as the world was hit by the perfect storm.

Global trade and supply chain were only getting to terms with the end of the prolonged US-China trade war, when it was hit by a combination of the Covid-19 pandemic and collapse in crude oil prices.

The perfect storm for capital markets that comes once in a decade started to unravel.

The 2008 financial crisis broke down the US financial system. The banks in Malaysia were well prepared for the crisis after having overcome similar problems in 1998. It was different in other parts of the world, especially the United States and Europe. The Federal Reserve and the European Union printed money and other measures to save the banking system.

...

Full Article on TheStar

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

AIRPORT 9.900
CAPITALA 0.710

Comments

Login to comment.