One example of these concerns is the secular stagnation hypothesis presented by Professor Lawrence Summers of Harvard University and others. While it had already been acknowledged that potential economic growth rates might be on the decline, especially in advanced countries, concerns are now growing that the recent spread of COVID-19 will further exacerbate secular stagnation.
In particular, the pandemic is having a strong adverse impact on the factors that are thought to have driven global economic growth since the 2000s, including globalization, urbanization, and the shift toward a service economy.