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Globalization is to blame for the spread of the new coronavirus; an economic recession and dramatic changes in society around the world will follow, said in an interview with Sputnik the chief economist and chief investment officer of Saxo Bank, Steen Jakobsen.
„Globalization is the main cause of the inconveniences (the rapid spread of the virus); the extent of travel around the world testifies to this,“ Jakobsen says.
„The world economy will fall into recession and in some countries into depression. The business cycle that was suspended by the global financial crisis of 2007 and 2008 will be restarted. After the crisis the economy will become considerably stronger, because before it operated in a problematic regime determined by debt, individualism and margins,“ the agency’s interlocutor believes.
He is convinced that after the crisis there will be a reconstruction of society, the rules of business conduct and cooperation.
„Remember that all transformations come from crises. This is the largest crisis I have seen in 30 years of my work. We will overcome it and we will be stronger,“ Steen Jakobsen is convinced.
The Czech Republic yesterday announced the third victim of the epidemic. It is said to be a 71-year-old woman who was hospitalized in Prague’s General Faculty Hospital.
Certain measures have been introduced in the country in connection with the disease. The Czech Republic is now in a state of emergency: movement is restricted and there is an obligation to wear a mask in public places. On Monday the government extended all measures until April 1.
