The economy is crumbling. What will a recovery look like?
Covid-19 has sent the global economy into a downward spiral. CNN Business' Christine Romans explains three scenarios of what recovery could look like.
01:43 - Source: CNN Business
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Closed store fronts on March 17, 2020 in the Brooklyn Borough of New York City. - The coronavirus outbreak has transformed the US virtually overnight from a place of boundless consumerism to one suddenly constrained by nesting and social distancing.The crisis tests all retailers, leading to temporary store closures at companies like Apple and Nike, manic buying of food staples at supermarkets and big-box stores like Walmart even as many stores remain open for business -- albeit in a weirdly anemic consumer environment.
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A view of a temporarily closed JCPenney store at The Shops at Tanforan Mall on May 15, 2020 in San Bruno, California. JCPenney avoided bankruptcy after the company paid down paid $17 million in debt on Friday after missing two previous payments.JCPenney has an estimate $3.6 billion in debt.
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MUNICH, GERMANY - MARCH 22: The exterior of a Balenciaga store photographed on March 22, 2022 in Munich, Germany. (Photo by Jeremy Moeller/Getty Images)
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An employee walks through the aisles of Mary Arnold Toys, New York city oldest toy store on August 2, 2021. - It's always "better to shop a little early" for the holidays, but this year, Judy Ishayik, co-owner of a New York toy store says, "We are telling people to shop for Christmas in September."
Global shipping snags are causing shortages, delivery delays and price increases -- all headaches for toy stores and manufacturers. (Photo by Kena Betancur / AFP) (Photo by KENA BETANCUR/AFP via Getty Images)
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