The global macro economic impact of the pandemic and how its prolonged impact on certain sectors and trade was discussed at length in a panel moderated by Jake Jacobson at the BAFT’s 2021 virtual Global Annual Meeting.
Having appeared to stabilise in July and August the number of new cases of COVID-19 globally has edged up to new highs in the last fortnight. Europe is seeing a second wave, particularly in Spain and France, but the case rate in the US has fallen.
The Local Currency System – SML – resurfaces as an alternative to recover trade flows not only in the Mercosur but also in other regions of the world which can implement it.
“WTO economists believe the decline will likely exceed the trade slump brought on by the global financial crisis of 2008-2009″