Bankruptcy, tension on public debts, explosion of a real estate bubble ... For eighteen months, speculation has been rife in economic circles to try to anticipate the trigger for the next crisis. Until now, reality had always resisted these grim forecasts. No matter what, without major hitch, economic growth in the United States, as in Europe, was content to slow down slowly, giving credit instead to the theorists of secular stagnation, those who believe that the very notion of the economic cycle has become obsolete.
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The coronavirus suddenly came to refresh these debates. It is now likely that the next economic crisis, so dreaded and expected, will be caused by this new virus, Sars-CoV-2. Everything will depend on the evolution of the epidemic in the next two weeks and on the capacity of States to react. The case of Singapore, which seems to have circumscribed the risks within a few days, argues for
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