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The Documentary Podcast

Coronavirus: The economic shock

The Documentary Podcast

BBC

Documentary, Society & Culture

4.32.7K Ratings

🗓️ 28 June 2020

⏱️ 51 minutes

🧾️ Download transcript

Summary

In a few short months the coronavirus has turned the world upside down. Alongside the tragedy of hundreds of thousands of deaths, the world is now bracing itself for a brutal economic impact. Whether it is components for manufacturing, our food and medical supplies or the contents of our shop shelves and our fridges we depend on complex global economic relationships which now look shakier than ever. The BBC’s business editor Simon Jack talks to some of the world’s most influential economic and business thinkers on how they think the Covid-19 crisis is changing the worldwide business and economic landscape and what they think the world might be like when the crisis is over.

Transcript

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0:00.0

What has happened now is that our economies have been partially shut down out of deliberate

0:09.6

policy.

0:10.6

I've never experienced a virus anything like this. It is so dangerous.

0:17.0

You're locking down economies and doing immense amount of damage.

0:23.0

We're talking not just about inequality.

0:25.0

The choice facing them could be, could be dying from infection or dying from hunger.

0:34.0

We cannot let the cure be worse than the problem itself.

0:38.0

We're not going to let the cure be worse than the problem.

0:40.0

It is so dangerous, but also so easy to underestimate.

0:50.0

The final words there from David Nabarro who leads the world health

0:53.2

organization's fight back against COVID-19's devastating worldwide impact.

0:58.1

We'll hear more from him later. It's barely three and a half months since the WHO declared a global pandemic.

1:04.4

Since then, a deadly virus, COVID-19, has paralyzed the world in its extraordinary grip.

1:10.5

There is barely anywhere on the inhabited planet that's not been affected.

1:14.0

The global death toll now stands at nearly half a million,

1:17.0

nearly 10 million more have contracted the virus.

1:20.0

In response, governments have taken action we've never witnessed before, shutting down their economies,

1:25.6

bringing huge portions of global trade and travel to a virtual standstill, and putting hundreds of millions of people out of work. Alongside the tragic loss of life

1:34.2

that global economic shock, the like of which hasn't been seen outside times of

1:38.6

World War, has brought whole industries to their knees. Businesses at every level are affected. From global

1:44.8

multinationals to high street stores and corner shops, but it would be quite wrong to say

1:49.6

this disease doesn't discriminate between big and small, rich and poor. The poor you are,

...

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