Since the COVID-19 outbreak was first reported in Wuhan, China in late December 2019, the disease has spread to more than 200 countries and territories. In the absence of a vaccine or effective treatment, governments worldwide have responded by implementing unprecedented containment and mitigation measures—
the Great Lockdown. This in turn has resulted in large short-term economic losses, and a decline in global economic activity not seen since the Great Depression. Did it work?