American Univesity of Beirut

COVID-19 Pandemic Tests the Immunity of the Global Economy

‚ÄčThis article is part of a new series launched by the AUB Issam Fares Institute to reflect on the impact of the #COVID-19 pandemic on various levels: the economy (global, and national), globalization, multilateralism, international cooperation, public health systems, educational system, refugee response, among other topics.‚Äč

When some experts described the COVID-19 pandemic as the most dangerous global challenge since World War II, potentially overshadowing the 2008-2009 financial crisis- they were correct. Although disasters diverge in their causes and scope of impact, they are connected by the necessity for coordinated international, regional, national, and local responses. The world is on the verge of a major economic recession and the impact on every country, rich or poor, will be tremendous unless early actions are taken.

Jamal Saghir, Distinguished Senior Fellow, Economic and Development, Issam Fares Institute for Public Policy and International Affairs, American University of Beirut.

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