Learning from the COVID-19 pandemic: How to better prepare for the next global crisis

Time will tell, but today, one and a half years after the outbreak of the COVID-19 pandemic, the “gloom-and-doom” predictions of world-wide recession, major disruptions in international trade, and rapidly rising unemployment appear to have been exaggerated. As the International Monetary Fund pointed out, the 2008/2009 financial crisis had a much more negative impact on the economy than either a “typical” recession or past “modern” pandemics.