1

2 “...These economies differ in their institutional frameworks for resolving financial distress, partly...”

3

4 Table of Contents: “..., -- but Difference in Scale 230 -- Steep Decline and Rapid Recovery 230 -- Corporate Restructuring Is Gathering Speed...”

5 “... against the different ways in which the future might play out. Scenarios provide a framework for debate...”

6 “... differently, each day is equivalent to a country distancing itself from its trade partners by 70 kilometers...”