In addition to its human toll, the coronavirus pandemic has wreaked economic havoc around the world. Entire economies ground to a virtual standstill as governments implemented strict lockdowns to prevent the spread of the virus. The impact on individual countries has only been exacerbated by the disruptions to global trade caused by the pandemic, and uncertainty still surrounds the shape of the economic recovery that will come in its aftermath.But even before the pandemic, the developed economies of Western democracies faced structural obstacles to growth that have called into question their models of governance, even as China’s high-growth development path offers a competitive alternative.
For this week’s big picture Trend Lines interview, Dr. Dambisa Moyo joins WPR editor-in-chief Judah Grunstein for a look at the challenges facing the developed economies, and how the pandemic will affect them and the global economy more broadly. Dr. Moyo holds a Ph.D. in economics from Oxford University and a master’s degree from Harvard University. She worked at the World Bank and Goldman Sachs for nearly a decade, and she is the author of four New York Times bestselling books, most recently, “Edge of Chaos: Why Democracy Is Failing to Deliver Economic Growth—and How to Fix It,” published in 2018. Her upcoming book, “How Boards Work—and How They Can Work Better in a Chaotic World,” is scheduled to be published in the spring of 2021.
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