Promo 18: The Evolving Economic Impact of COVID-19

Speaker 0 00:01 On the current episode of the trade security podcast, Kofax economist for North America. Ruben is our, provides an update on the economic impact of covert 19 at these stages. I think one very important things to note is that Speaker 1 00:15 these crisis is not a systemic crisis like the 2008, 2009 great recession. So in terms of long lasting impact, it means that it probably means means that we will probably see less long lasting impact, economic impact. Uh, after the 2008, 2009, nine, great recession, we had lower productivity level at the global level. We have lower gross and lower trade volumes, uh, at global level. Well, I don't think, uh, these crisis, it's going to trigger these type of systemic changes and these type of <inaudible> of change in the trend that we were seeing before the Colby 19 crisis. I believe that after economy starts to open again and gradually a return to normal, uh, we'll see a recovery and at some point <inaudible> uh, that will be supported by, by the very <inaudible> aggressive monitoring free and fiscal stimulus plan being carried out worldwide. And will, it will allow to come back to, well, we you before these crises. That's what I think. Speaker 0 01:26 Gulf OS economist for North America, Ruben Nazar provides an economic overview of the impact of covet 19 on trade securely. Listen at trade securely. Dot. CA.