Recession to hit developing nations, may spare China, India: UN

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Recession to hit developing nations, may spare China, India: UN

Apr 01, 2020 07:08 IST

The world economy will go into recession this year with a predicted loss of trillions of dollars of global income due to the coronavirus pandemic. This indicates serious trouble for developing countries with the likely exception of India and China, according to a latest UN trade report. The UN said that in recent days, advanced economies and China have put together massive government packages. This represents an unprecedented response to an unprecedented crisis, which will reduce the extent of the shock physically, economically and psychologically, the report said.

Economy