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Monday Insight: Coronavirus is laying bare the unhealthy vulnerability of economic globalisation


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Models present creations from the Dolce & Gabbana Autumn/Winter 2020 collection during Milan Fashion Week in Milan, Italy. The fashion week has fallen victim to the Coronavirus outbreak. Photo: REUTERS/Alessandro Garofalo

Models present creations from the Dolce & Gabbana Autumn/Winter 2020 collection during Milan Fashion Week in Milan, Italy. The fashion week has fallen victim to the Coronavirus outbreak. Photo: REUTERS/Alessandro Garofalo

REUTERS

Models present creations from the Dolce & Gabbana Autumn/Winter 2020 collection during Milan Fashion Week in Milan, Italy. The fashion week has fallen victim to the Coronavirus outbreak. Photo: REUTERS/Alessandro Garofalo

Finance chiefs from the world's largest economies are realising the coronavirus isn't just a short-term threat to global growth - it's exposing the vulnerabilities of globalisation itself.

As finance ministers and central bank governors kicked off their G20 meeting in Riyadh, Saudi Arabia, on Saturday, representatives from the world's second-largest economy, China, were notably absent.

Chinese authorities are instead focusing on containing an outbreak that's so far killed more than 2,300 people, infected nearly 80,000, disrupted global supply chains and led to downgrades in global growth forecasts.