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Coronavirus credit crunch could make 2008 look like ‘child’s play’

Coronavirus credit crunch could make 2008 look like ‘child’s play’

Experts warn companies that have gorged on cheap money for the past decade face going out of business

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A worldwide credit crunch triggered by the coronavirus will set in motion a wave of corporate bankruptcies that will make the global financial crisis look like “child’s play”, investors have warned.

With the world’s most advanced economies all entering a shutdown that could last months, companies that have gorged on cheap money for the past decade face going out of business thanks to a huge spike in borrowing costs on international money markets.

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