World trade is expected to fall by between 13% and 32% in 2020 as the COVID-19 pandemic disrupts normal economic activity and life around the world, according to the World Trade Organization. WTO said today that the wide range of possibilities for the predicted decline is explained by the unprecedented nature of this health crisis and the uncertainty around its precise economic impact.
The response of political leadership can also have a big impact in the outcome. But WTO economists believe the decline will likely exceed the trade slump brought on by the global financial crisis of 2008‑09 (Chart above). Estimates of the expected recovery in 2021 are equally uncertain, with outcomes depending largely on the duration of the outbreak and the effectiveness of the policy responses.
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COVID-19 – GM Gives $2.65 Million to 40 Non-Profits
In response to the challenges brought on by the coronavirus pandemic, General Motors is helping communities across the country, investing $2.65 million in 40 non-profits and supporting employee volunteer and donation efforts.
Included in these efforts is a $1 million grant to the DonorsChoose Keep Kids Learning plan, which provides $1,000 credits to 1,000 teachers in high-need school districts to help send basic resources like books, pencils, notebooks, food and cleaning supplies to students’ homes.
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