10.9.20
New data from Axios reveals that despite the pandemic negatively impacting the global economy, the number of business bankruptcies and insolvencies in 2020 has decreased compared to 2019. The main reason noted for the lower rate of bankruptcies is related to the financial and foreclosure protections passed by central banks and governments across the globe. However, the article warns that if these protections go away, the global economy could see an increase in “zombie businesses” that make the economy “less productive and less efficient” leading to a longer recovery.