If lockdown continued, can the world declare a financial emergency?
World is already in financial emergency and all the countries are trying to restart their economies as early as possible. So this doesnt matter whether they have declared financial emergency or not but to mitigate that they will use all the methods which are essentially emergency measures. Several hundred million jobs across the world have already lost as well as man-hours. However, the silver-lining is that all this calamity is not because of some financial & economic policy lacuna. All the countries of the world have capacities to manufacture & produce and consume the produce. So at macro level, government would be required to help public & private companies with liquidity & incentives to start productions and providing services and motivate the people to return to there normal consumption pattern. All these measures will be essentially emergency measures.