Source: Adapted from Notteboom, T., A. Pallis and J-P Rodrigue (2021) “Disruptions and Resilience in Global Container Shipping and Ports: The COVID-19 Pandemic vs the 2008-2009 Financial Crisis”, Maritime Economics and Logistics, https://doi.org/10.1057/s41278-020-00180-5 Recessions can have a severity ranging from light, where economic decline (e.g. GDP) may last a short … Continue reading Impact of Recessions on Consumption, Production, and Trade