If the epidemic spreads outside china the g20 should

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If the epidemic spreads outside China, the G20 should lead a coordinated policy response. Countries should cooperate on support to health care in countries where it is needed, as well as on containment measures. In addition, if countries announced coordinated fiscal and monetary support, confidence effects would compound the effect of policies. This would help reverse the drubbing in confidence that a more widespread outbreak would provoke. It would also be more effective than working alone. Our work presented in the Economic Outlook 2019 shows that if G20 economies implement stimulus measures collectively, rather than alone, the growth effects in the median G20 economy will be 1/3 higher after just two years. Some would say it is trite to call for international cooperation. However, in this globally connected economy and society, the coronavirus and its economic and social fallout is everyone’s problem, even if
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firms decide in the wake of this virus shock to repatriate production and make it a bit less interdependent. For more information visit the latest Interim Economic Outlook , released 2 March 2020
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  • Fall '19
  • Economics, gross domestic product, gross world product, world economy

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