Global economy to suffer worst peacetime slump in 100 years, OECD says – business live

China was ground-zero for the outbreak of the coronavirus crisis, but it also appears to be leading the global recovery. Auto sales data looks to be strengthening, and with some factory levels almost back to pre-pandemic levels there is a real hope that the worst is in the rear-view mirror.

Its role at the heart of the global economy has meant that Chinese inflation has historically acted as an indicator for other countries. It remains to be seen whether that’s still the case in this new environment, where local effects will play a more prominent role in the basket of goods.

Hurdles remain for the global recovery, with recent reports that logjams could be on the horizon for the shipping industry and emerging economies projected to shrink for the first time in sixty years. But as the US shows signs of greater bouncebackability, governments and central banks around the world will have their fingers crossed that a v-shaped recovery could be on the cards.”