The McKinsey survey of more than 2,200 companies in five countries – France, Germany, Italy, Spain and Britain – found that 55 percent expected to shut down by September next year if their revenues remained at current levels.
The World Economic Forum, in a report released Wednesday on the future of jobs, expects that a new division of labor between humans and machines will upend and eliminate some 85 million jobs globally across 15 industries. But it also expects that 97 million new roles will emerge in sectors like artificial intelligence, content creation and “the care economy” involving children and the elderly.
China, Taiwan and Vietnam are the only major trading economies whose exports have recovered strongly, with all three reporting strong growth in the third quarter of 2020, according to research by the United Nations Conference on Trade and Development (UNCTAD).
From being the first country where the Covid-19 virus was detected, China is all set to become the only major economy in the world that will grow in 2020. China’s gross domestic product (GDP) expanded 4.9% in the July-September quarter, according to statistics released by the country’s National Bureau of Statistics.