Experts call for collective global response against COVID-19 impact

Craig Allen, president of the US-China Business Council, underscored the huge amount of uncertainty of this outbreak in his speech at Wednesday's seminar, which focused on the world economy under the COVID-19 pandemic. It is neither known how widespread COVID-19 will be, nor how long it will last, said Allen. He stressed that the recession risk is "very real," citing temporary business closures, lay-offs of hundreds of thousands of workers, and volatility in the US financial market.