Division of Business and Management (DBM) invited Prof Terence Tai-Leung Chong to give a lecture on 'The Impact of COVID-19 on the World Economy' on 28 September. This lecture attracted over 100 participants.

As one of the key initiatives to mark UIC's 15th anniversary, DBM will hold Celebrity Lecture Series from September to December 2020. This lecture was the first of the series.

Prof Chong is an Associate Professor of Economics, Executive Director of Lau Chor Tak Institute of Global Economics and Finance, Dean of Students of New Asia College and Co-Director of Global Economics and Finance Programme, The Chinese University of Hong Kong.

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Prof Chong answers questions online

Dr Luo Bei, Assistant Professor of DBM, was the MC of the lecture. Before the lecture, Dr Mi Lin, Assistant Dean of DBM, gave opening remarks and welcomed the guest.

In this lecture, Prof Chong shared with his views on how the pandemic has affected the economies of China and the world and discussed the implications of the quantitative easing if the US on global asset markets.

Prof Chong introduced how COVID-19 made a serious impact on the world economy from various aspects, such as GDP growth rate, inflation rate, the balance of trade, unemployment rate, retail sales, travel and tourism, etc. Some countries and regions have a trade deficit, which aggravates the outflow of domestic and regional resources. In some countries and regions, the unemployment rate rises sharply, and the economic development slows down and declines, which is not conducive to currency appreciation. Meanwhile, it means that the income of residents decreases rapidly, which greatly affects the living standards of residents in these countries and regions.

At the end of the lecture, the audience raised queries in the question and answer session.

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Q & A Session

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An active audience

 

From DBM
Editors: Deen He, Zhang Fan