# Professor Michael Spence warns that if vulnerable developing countries don't get help from the G20 and international financial institutions it could trigger a correction in the global economy

1 Faculty News April 17, 2020 ![China Daily Logo 190 x 145](/sites/default/files/styles/246w/public/assets/images/China%20Daily%20Logo%20190%20x%20145.jpg?itok=qwNkV5Ut)>

Excerpt from [China Daily Asia](https://www.chinadailyasia.com/article/127915#Well-positioned) -- "Some commentators believe the compound effect of this could result in the 2020s becoming a repeat of the Great Depression in the 1930s. [Michael Spence](https://www.stern.nyu.edu/faculty/bio/a-michael-spence), professor of economics at New York University’s Stern School of Business and a Nobel Prize winner for economics, said this is not inconceivable. 'There would have to be a lot of mistakes made to get there. The main risk is the poorer developing countries. They are highly vulnerable, both medically and economically,' he said."

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