as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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what impact has the coronavirus pandemic had on the global economy?
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the coronavirus pandemic has had a devastating impact on the global economy. all major economies have seen a sharp decline in economic activity due to lockdowns, travel bans, and business closures. many sectors have been crippled, including tourism, hospitality, aviation, and retail. additionally, the disruption of global supply chains has had a dramatic effect on international trade. it is estimated that the global economy could shrink by up to three percent this year, the biggest slump since the great depression.
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