This is GPS, the Global Public Square. Welcome to all of you in the United States

and around the world. I'm Farid Zakaria coming to you live from New York.

Today on the show, the coronavirus and the economy is the world headed toward a

great depression. And how do we come out of it? I will ask the Nobel Prize

winning economist Paul Krugman, Ian Bremer and Zanimatein Betos. Also,

coronavirus becomes the excuse for dictatorship. In the last few weeks, Hungary's

government has used the pandemic to give its leader unchecked power. Is this the

end of democracy in a European country? And India, we will take you inside perhaps

the greatest gamble yet? The unprecedented lockdown of some 1.3 billion people

to stave off catastrophe. Will it work? But first, here's my take. Even as we're

just beginning to confront the magnitude of the shock caused by this pandemic,

we need to wrap our minds around a painful truth. We're in the early stages of

what is going to become a series of cascading crises reverberating throughout the

world. And we will not be able to get back to anything resembling normal life

unless the major powers in the world can find some way to cooperate and manage

these problems together. The first phase has been the health care crisis

in the world's major economies. The next phase is the economic paralysis,

the magnitude of which we are only just beginning to comprehend. In the last two weeks,

two weeks, America lost 10 million jobs exceeding the 8.8 million total jobs lost

over 106 weeks during the 2008-2010 recession. But this is just the beginning. Next up will surely

be the danger of countries defaulting. Italy entered the crisis with the highest level of public debt

of the eurozone countries and the third highest in the world. The country's debt will skyrocket

...