The rise of covidnomics

"The pandemic has cast a shadow over the global economy," writes Kaushik Basu, professor of Economics, in this opinion article in CGTN. "So far, the two worst-performing economies in the second quarter of 2020 (April-June) were Peru and India, where GDP shrank by 30.2 percent and 23.9 percent, respectively, in year-on-year terms. These record declines were caused by the pandemic, but also by how we are dealing with it."

"In Peru, for example, the crude mortality rate (CMR) – the number of COVID-19 deaths per million people – is 939. The plunge in its GDP is clearly related to this."

Read the full story on CGTN.

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Professor Kaushik Basu