COVID-19 has significantly impaired the global economy. In the Global Economic Prospects Report of June 2020, the World Bank forecasted that the global GDP in 2020 will contract by 5.2%, creating the worst recession in 80 years. More than 90% of the global economies are contracting, a percentage higher than that of the Great Depression of 1930-32. While the US equity market has seen a modest recovery due to its alternative, the debt market, producing meager return rates, the outlook for the real economy is far from optimistic. In spite of expecting a rebound in the second half of 2020 and in 2021, researchers predict that it will be limited and that the prospect of a V-shaped recovery is hopeful at best.

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