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rdf:type	schema:NewsArticle
schema:articleBody	The global COVID-19 pandemic is now expected to take a far worse toll on foreign direct investments worldwide than feared just a few weeks ago, UN economists said Thursday. A fresh report from the UN Conference on Trade, Investment and Development (UNCTAD) warned that the rapid spread of the coronavirus would cause a "dramatic drop" in global foreign direct investment, which is a measure of cross-border private sector investment. The agency said it now believed that global FDI could be as much as 40 percent lower than its projections in January, when it had expected to see up to five percent growth this year and next. That compares to a forecast it issued just two weeks ago, in which it said that FDI would be up to 15 percent lower than its January projections, in a worst-case scenario. Efforts to halt the spread of the new coronavirus, which has killed nearly 22,000 people worldwide and infected more than 500,000, have wreaked havoc on international business and are rapidly pushing the world into a global recession. "Projections of the economic impact of COVID-19 are becoming more serious by the day," Thursday's report said. It said "early expectations that the impact would be felt first and foremost through the ripple effects caused by production stoppages and supply chain disruptions in East Asia... and felt especially in economies that are closely integrated in global value chains are being overtaken by events." "It is now evident that pandemic mitigation efforts and lockdowns around the world will have devastating effects on all economies, independent of their links to global supply networks," UNCTAD said. The "consensus is that most if not all major economies will experience a deep recession", it added. nl/rjm/bmm
schema:headline	Pandemic will cut global investment flows more than feared: UN
schema:mentions	International trade Supply chain Great Recession Foreign direct investment Recession United Nations Pandemic Coronavirus Severe acute respiratory syndrome coronavirus 2 United Nations Conference on Trade and Development Capillary wave East Asia Jimmy Havoc
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-03-26 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	85 (xsd:integer)

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