David McWilliams: You will be a victim of the coronavirus

Economic contagion spreads far more easily than physical illness in a globalised world

Global supply chains with Chinese exposure, which is a substantial share of the global economy, will be immediately affected, leading to disruption across many sectors. Photograph: Alex Plavevski/EPA

Global supply chains with Chinese exposure, which is a substantial share of the global economy, will be immediately affected, leading to disruption across many sectors. Photograph: Alex Plavevski/EPA

While we are engulfed with the election and wondering who might form the next government here, spare a thought for the world economy. Given that we are among the most globalised countries in the world, it might be prudent to look up from our own political navel and take stock of the past week in global affairs.

After 10 years of a global economic expansion, against a backdrop of historically low interest rates, debt levels are higher than ever and the global economy is more integrated than ever, not just financially but also from a supply chain perspective.

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