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shutdown: how covid shook the world's economy
[Paperback - 2021]
adam tooze
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Category: Politics
Publisher: Allen Lane Uk | ISBN: 9780241501771 | Pages: 368
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Description

From the author of Crashed comes a gripping short history of how Covid-19 ravaged the global economy, and where it leaves us now When the news first began to trickle out of China about a new virus in December 2019, risk-averse financial markets were alert to its potential for disruption. Yet they could never have predicted the total economic collapse that would follow in COVID-19's wake, as stock markets fell faster and harder than at any time since 1929, currencies across the world plunged, investors panicked, and even gold was sold. In a matter of weeks, the world's economy was brought to an abrupt halt by governments trying to contain a spiralling public health catastrophe. Flights were grounded; supply chains broken; industries from tourism to oil to hospitality collapsed overnight, leaving hundreds of millions of people unemployed. Central banks responded with unprecedented interventions, just to keep their economies on life-support. For the first time since the second world war, the entire global economic system contracted. This book tells the story of that shutdown. We do not yet know how this story ends, or what new world we will find on the other side. In this fast-paced, compelling and at times shocking analysis, Adam Tooze surveys the wreckage, and looks at where we might be headed next. --

About the Author

Adam Tooze is the author of Wages of Destruction, winner of the Wolfson and Longman History Today Prize. He is the Kathyrn and Shelby Cullom Davis Professor of History at Columbia University. He formerly taught at Yale University, where he was Director of International Security Studies, and at the University of Cambridge. He has worked in executive development with several major corporations and contributed to the National Intelligence Council. He has written and reviewed for Foreign Affairs, the Financial Times, the Guardian, the Sunday Telegraph, the Wall Street Journal, Die Zeit, Sueddeutsche Zeitung, Tageszeitung and Spiegel Magazine, New Left Review and the London Review of Books.

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