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Making sense of our new global economy

If billionaires shooting off into space because their net worth has jumped 60 percent sounds cringeworthy to you, you're not alone. Indeed, the pandemic hasn't been kind to the 120 million people into extreme poverty. Nor to the global economy as a whole, which stands to lose $2.3 trillion by 2025 due to vaccine inequality.

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Is a second great depression coming? Adam Tooze on international economic crisis

Many of us experienced the major economic impact of the Great Recession from 2008-2010. The definition of a "depression" is harder to articulate, even for economists, because the US hasn't had one since the 1930s. But as unemployment rises and lockdowns to limit the spread of the coronavirus threaten the existence of businesses here in the US and around the world, we ask the question: Is another depression a possibility, and what would that look like today?

On this episode of GZERO World, Ian Bremmer poses this question to Columbia professor, economic historian, and author Adam Tooze. The two discuss the strength of the US and global economies before and during the COVID-19 pandemic, and realistic timeframes for when the financial outlook will improve.

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