Today, analysts are telling us it will likely take a decade to recover the global economy we had at the start of this year. Over the last few weeks, it has become fashionable to say the US economy “cratered.” Now it seems worse than that. In 2008, the Philippines was able to avert sliding into the global recession caused by the financial meltdown emanating mainly from Wall Street. The depth and scope of the global recession ensures that. As the economy contracts, it is not likely there will be growing demand for office space or even residential units.

Source: Philippine Star May 01, 2020 15:56 UTC