The world economy is now collapsing

Martin Wolf: A microbe has overthrown our arrogance and sent global output into a tailspin. "What must we do to manage this disaster? One answer is not to abandon the lockdowns before the death rate is brought under control. It will be impossible to reopen economies with a raging epidemic, increasing numbers of dead and pushing health systems into collapse. Even if we were allowed to buy or go back to work, many would not do so." Chief economics commentator of the Financial Times, Martin Wolf, explores.