Last year saw the biggest global
health and economic crisis ever seen, the annual Ambrosetti
Forum heard on its opening day Friday.
"2020 marked the deepest global crisis ever seen by our
generation," said Valerio De Molli, managing director and
managing partner of The European House Ambrosetti, kicking off
the annual brainstorming session.
"The collapse in global GDP was 32 times worse than the worst
previous crisis, while Italy's 8.9% GDP contraction was the
fourth worst in the 150 years of Italian history."
As well as its economic impact, "the social consequences of the
pandemic were enormous and asymmetrical, said De Molli.
Women and young people were the categories that suffered the
most, he said.
He said some 47 million women around the world risk falling
below the poverty line.
The Ambrosetti Forum organized by The European House -
Ambrosetti, a consulting firm - is an annual international
economic conference held at Villa d'Este, in the Italian town of
Cernobbio on the shores of Lake Como.
Since its inception in 1975, the Forum has brought together
heads of state, ministers, Nobel laureates and businesspeople to
discuss current challenges to the world's economies and
societies.
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