The current coronavirus pandemic is creating enormous burden on the global economy. It is already inflicting serious damage on supply chains, demand, and financial market, affecting business investment, household consumption, and international trade. The ADB on 3rd April estimated the pandemic could cost the world economy $4.1 trillion or almost 5% of global gross domestic product. With the uncertainty of when will the pandemic end, governments are bracing for the full impact from the coronavirus economic downturn.
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