In This Edition

Key Takeaways

According to Goldman Sachs, global debt levels are close to WWII peaks. The FDA pulled its emergency authorization of hydroxychloroquine, concluding that it is not effective as a treatment. Global confirmed cases of coronavirus surpassed 8 million.

Condition Updates

A rundown of important global developments in markets, in business, and region-by-region, as well as statistical risk assessments by country and by US state.

The Second Wave? Coronavirus Clusters in East Asia

Coronavirus mini-surges emerging in Beijing, Seoul and Tokyo are testing the ability of governments that had previously appeared successful in controlling virus spread. Beijing has reimposed lockdowns and turned to mass testing, while South Korea considers a second wave “inevitable” despite high-tech tracing measures.These outbreaks raise the likelihood of halting recoveries, even in countries well-equipped to combat the virus.

Industry in Focus: Fashion

Fashion has been hit hard by the pandemic: the general economic downturn paired with the sequenced outbreaks in Asia and the Western Hemisphere wiped out supply chains and then demand. Next year, 80 percent of all publicly listed companies in Europe and North America will be in financial distress in the next year. Once retailers begin to reopen, companies must operate in a brick-and-mortar supporting digital mindset rather than the other way around.

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