The world is stuck: it can’t move fast enough whether dealing with environmental issues or a virus that’s 100 times more efficient attaching to human cells than SARS. Maybe Mark Zuckerberg was right all along: we need to move fast and break things. Or the things will break us. Alexis Crow, head of PwC’s geopolitical investing practice, told Global Translations she doesn’t think coronavirus is “overdramatized in the least” and “absolutely could tip us into recession.” The Eurozone is the most fragile, and problems are spilling from manufacturing and “hitting the other jugular vein, services.” Crow doubts that mounting economic problems are merely delayed spending (a postponed trip, for example). Instead, it’s deals falling apart, rotting fruit, dissipating consumer confidence. With that toxic cocktail “you start to see other vulnerabilities surface,” she said. Organizations will take shortcuts as coronavirus “releases them from discipline and longer-term negative effects follow,” as would occur if Italy’s budget deficit blew out, or national governments watered down a global aviation carbon offsetting scheme, to cut the costs of struggling airlines. To view the full article visit Global Translations.
