The latest outbreak of coronavirus has caused the biggest wave of stock market losses since 2008, wiping $5tn off share values worldwide. Markets are worried that the virus will have a serious impact on an already weak world economy. These fears are not unfounded.
The new coronavirus epidemic is having important implications for the class struggle, which we covered yesterday in an article about the outbreak in Italy. In this article we will deal with the effect the outbreak is going to have on the world economy.