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Check out how the OECD is contributing to the global effort to tackle the coronavirus (COVID-19): http://www.mxjevk.cn/coronavirus/

 

COVID-19: Joint actions to win the war

Op-Ed by Secretary-General Angel Gurría

The coronavirus pandemic is causing large-scale loss of life and severe human suffering. It is a public health crisis without precedent in living memory, which is testing our collective capacity to respond.

The pandemic brings with it the third and greatest economic, financial and social shock of the 21st Century, after 9/11 and the Global Financial Crisis of 2008. This shock brings a double whammy: a halt in production in affected countries, hitting supply chains across the world, and a steep drop in consumption together with a collapse in confidence. Stringent measures being applied, albeit essential to contain the virus, are thrusting our economies into an unprecedented “deep freeze” state, from which emergence will not be straightforward or automatic.

The most urgent priority is to minimise the loss of life and health. But the pandemic has also set in motion a major economic crisis that will burden our societies for years to come. In many places ambitious initial responses are underway, and this is commendable. But only a combined, coordinated international effort will meet the challenge.

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