US Think Tank: "If COVID-19 Pandemic Occurs, Global GDP Will Decrease by 1857 Trillion Won"

[Asia Economy Reporter Naju-seok] It has been analyzed that if the novel coronavirus infection (COVID-19) occurs, South Korea's gross domestic product (GDP) could decrease by at least 31 billion dollars (36.7 trillion won) and up to 124 billion dollars (146.5 trillion won).

The Brookings Institution, a U.S. think tank, recently analyzed the impact on the global economy by assuming seven different scenarios in its report.

The report predicted that in the event of a pandemic, the global GDP could decrease by up to 9.17 trillion dollars (1,857.28 trillion won).

The Brookings Institution applied different infection rates and fatality rates (the proportion of deaths among infected patients) to derive these scenarios.

Through the report, the Brookings Institution emphasized, "It is too late to act after COVID-19 has taken hold in many countries," and stressed that "major countries need to actively cooperate."

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