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Tech giants will emerge as the coronavirus winners

With increased demand for their services, the likes of Netflix, Facebook, Google and Amazon will surface from this crisis bolstered and emboldened

Drastic downward moves on stockmarkets; a sense of fear and panic in the streets; governments overwhelmed by an uncontrollable disaster as it spreads its tentacles around the world.

It’s no surprise the current crisis has sparked comparisons with the Wall Street Crash of 1929 – and ominous warnings the world may be on the verge of another Great Depression.

French finance minister Bruno Le Maire said this week the coronavirus pandemic is “comparable only to the great recession of 1929”.

But how fair is that comparison and is it useful to draw such parallels?