A New Great Depression is Knocking on the World's Door

The 21st century is an amalgamation of previous centuries. Various events of the previous centuries recurred in this century. The century is also known as Asia’s century. The political and economic powers of the west are transforming into Asia, and this is the real cause of the new cold war between the US and China. COVID-19 impacts more than 70% of the world's economies. There are three main reasons for the decline in global economic activity. The post-World War II globe faced three global recessions. Only two recessions have been long and deep: the one of 1973–1975 and the one of 1981–1982. Due to COVID-19, another great natural depression is knocking on the world’s door. The world's countries collectively cooperate and control the coming Great Depression.