SheKnows Live | Cao Yin: The financial crisis has not yet formed, and the impact of the epidemic on the economy is reflected in the sharp shrinkage of supply and consumption

On the afternoon of March 12, Babbit Sheknows hosted an online interview on the theme "What if the global economic crisis, what about blockchain?" According to Cao Yin, managing director of the Digital Renaissance Foundation, so far, the main cause of the epidemic has been a substantial contraction of both the supply and consumption sides, which has brought about economic shocks, and has not yet formed a financial crisis. However, if the epidemic continues and the relevant countries do not have unexpected relief measures, there will be a large number of companies and individuals going bankrupt, massive debt defaults, and global systemic financial risks, so the extent of the financial crisis will be much greater than the last Subprime storm.

He also pointed out that the outbreak may bring new black swans. If the outbreak caused catastrophic public health events in other countries, it could cause political unrest in some countries. Once this happens, it will undoubtedly bring a new shock to the already stressed global growth prospects. Live link: