However the COVID-19 epidemic unfolds — even if it is soon brought under control globally — it is likely to do much more economic damage than policy makers seem to realize, wrote Kaushik Basu, professor of economics, in an .
"In the wake of the 2008 global financial crisis, central banks led the response," he said in the article. "As the COVID-19 outbreak disrupts value chains and raises fears among investors, some seem to think that they can do so again."
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