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Expect the coronavirus pandemic bankruptcy tsunami to be worse than predicted

As the Covid-19 pandemic spreads and in many places deepens across the world, and efforts to revive our economies flounder, some sobering questions arise: how deep is the recession going to be? How many companies are going to go bankrupt before we see light at the end of the tunnel? And just how many people are going to lose their jobs, or see their incomes sharply cut, for the foreseeable future? Without immediately turning to specific answers, there is one quick and easy response: things are…

Read the original article at South China Morning Post

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