Explaining the economic impact the COVID-19 pandemic is having on the world is Richard E Baldwin, co-author of Mitigating the COVID-19 Crisis: Act Fast And Do Whatever It Takes. On the latest episode of The Agenda, he told Stephen Cole why he's calling the situation a COVID-concussion for the global economy:

"The economy has been knocked on the head and fainted for a while. The problem is if we stay unconscious long enough, firms will go bankrupt, possibly banks too. The shock can be short-term but the damage it may cause on top of that is what we should really be worrying about."

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