Citi's David Bailin says expect a real economic impact from COVID-19

David Bailin, Citi Private Bank's CIO, discusses the market's reaction to the coronavirus pandemic, highlighting its global impact and economic implications. He explains the difference between this event and a recession, noting the potential for a sharp economic decline followed by a recovery. Bailin emphasizes that this is not a structural change in the global economy, and anticipates a strong recovery post-pandemic.

What was the initial belief about the coronavirus's impact?

• It would be a global pandemic.

• It would be a regional issue in China.

• It would not affect the economy.

• It would only affect Europe.

What is causing the economic disruption according to David Bailin?

• The increase in global trade.

• The realization of its global spread.

• The lack of vaccines.

• The virus itself.

Which sectors are initially impacted by the economic effects of the pandemic?

• Travel and tourism.

• Education and healthcare.

• Technology and finance.

• Agriculture and mining.

How does David Bailin describe the current market events?

• As a typical recession.

• As a minor market correction.

• As a structural economic change.

• As a world shutdown.

What historical event does David compare the current situation to?

• The 2008 financial crisis.

• The 2003 SARS outbreak.

• The 2011 European debt crisis.

• The 2000 dot-com bubble.

What is David's view on the potential for structural changes in the economy?

• He thinks changes will be minor.

• He is uncertain about the changes.

• He believes there will be no structural changes.

• He believes there will be significant structural changes.

What does David predict for the global economy after the pandemic?

• A prolonged recession.

• A large global economic recovery.

• A stagnant economy.

• A slow and steady growth.