The current global spread of COVID-19 has brought about a global depression, and it is difficult to predict future developments. That said, faced with a crisis of global scale, all major economies have implemented large-scale economic measures, reflecting the experience of the Great Depression of the 1930s and the Great Recession caused by the GFC in 2008.
You may recall that, last year I alluded to disharmony or misaligned nexus between a stable macroeconomic environment and weak economic  outcomes;  specifically  insufficient  growth  rates,  high  unemployment levels and income inequality, and the resulting slow pace towards attainment of the high-income status.