Shutdown

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Deftly weaving finance, politics, business, and the global human experience into one cohesive narrative, this account of 2020 reveals the year that changed everything. The shocks of 2020 disrupted the world economy, international relations, and daily lives on an unprecedented scale. For the first time, the global economy contracted by 20 percent in a matter of weeks, with 95 percent of the world's economies suffering simultaneously. Hundreds of millions lost their jobs, all while the specter of a pandemic loomed large. The author, acclaimed for his insights during the 2008 crash, applies his analytical skills to provide a panoramic overview of the current crisis. By focusing on finance and business, he sheds light on the world's unpreparedness to tackle the crisis and the deep ruptures in our way of life. The virus has attacked the economy as fiercely as it has our health, with no vaccine to address the economic fallout. The author illustrates how social organization, political interests, and economic policy interact with devastating human consequences, from local hospitals to the World Bank. He examines the impact of currency fluctuations, the decimation of institutions, and the intersection of the pandemic with domestic politics, all while highlighting the inescapable global interconnectedness that binds modern nations together.