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Protracted G7 contraction – or multiyear global depression

Current estimates for major advanced economies remain too optimistic, due to the mismanagement of the COVID-19, belated responses and premature exits, which have now caused far-earlier-than-expected secondary virus waves. As a result, the hoped-for V-shaped recovery will not happen in the 2nd quarter. The Trump administration’s catastrophic COVID-19 failures, along with premature exits to reopen the…

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