Experts predict another financial crash
(VOVWORLD) - Jesse Colombo, an economic forecaster, who predicted the 2008 global financial crisis, has warned that another crash is on the way, and this time it will be much worse. Colombo said a number of new bubbles in the EU’s real estate market, the US stock market, and others around the world are set to burst and the coronavirus is basically the one-two punch.
 photo: Bloomberg |
The Covid-19 pandemic has strongly impacted transportation, particularly the aviation sector. China’s Civil Aviation Department said that airliners have reported a total loss of around 3 billion USD in February. Passengers by air reduced 84.5% compared with the same period last year. Korean Air has warned that the Covid-19 pandemic could threaten its survival after more than half of the world restricted passengers entering from South Korea.
Air France-KLM figures showing traffic on Asia-Pacific routes down a quarter in February provide the first clear passenger data illustrating the impact on European carriers of the coronavirus outbreak.