Positives The book is widely praised for its ambitious, panoramic scope, offering a global perspective on the economic and political impact of the initial phase of the COVID-19 pandemic. Reviewers highlight its valuable insights into the monetary and fiscal responses of governments and central banks across numerous countries, providing a detailed understanding of how policy choices were made during an unprecedented crisis. Many commend the author's ability to synthesize complex economic information, presenting a data-rich yet readable account of the turmoil of 2020. The book is seen as an insightful and comprehensive narrative, capturing the blow-by-blow developments of the time and serving as an excellent resource for understanding the immediate economic ramifications and the revolutionary scale of interventions. Readers appreciate the author's renowned storytelling talent, creative thinking, and thorough research, making the book an engaging and informative read for those interested in international finance and contemporary history.
Negatives Despite its strengths, several reviewers note that the book suffers from being written "in media res," too close to the unfolding events. This immediacy, while offering a vivid snapshot, sometimes leads to a perceived lack of the rigorous second-order coherence and deeper analytical depth characteristic of the author's previous works. Critics mention that the narrative can feel improvisational, at times resembling a collection of essays or reportage rather than a fully developed historical analysis. Some reviewers point to significant gaps in coverage, such as the impact on global shipping or a more detailed exploration of China's early conduct and data. Concerns are also raised about potential ideological leanings, with some perceiving a technocratic bias and a tendency to downplay certain criticisms or take specific policy virtues for granted. Additionally, the book occasionally receives feedback for being repetitive in its points or overwhelming the reader with too much data, making it challenging to maintain focus on central arguments.
Conclusion Overall, the book is considered a valuable and insightful, albeit imperfect, contribution to understanding the economic shock of the pandemic's first year. While it may not reach the magisterial heights of the author's earlier, more retrospective works, it is still highly recommended for its comprehensive and timely account. It serves as an essential read for anyone seeking to grasp the immediate economic and financial transformations of 2020, particularly the responses of international institutions and the complex interplay between politics and economics during a global crisis. The book will especially appeal to readers interested in current affairs, international finance, and the geopolitical dynamics between major global powers like the US, EU, and China. Those who appreciate the author's unique blend of economic history and political analysis, and are willing to accept the limitations of a narrative written as events unfolded, will find this a worthwhile and thought-provoking read.
