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Shutdown - How Covid Shook the World's Economy (Hardcover)
Loot Price: R663
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Shutdown - How Covid Shook the World's Economy (Hardcover)
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FINALIST FOR THE ORWELL PRIZE FOR POLITICAL WRITING 2022 THE TIMES
BOOKS OF THE YEAR 2021 'A complex story, which Tooze tells with
clarity and verve... The world is unlikely to be treated to a
better account of the economics of the pandemic' The Times 'A
seriously impressive book, both endlessly quotable and rigorously
analytical' Oliver Bullough, The Guardian 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.
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