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The COVID-19 crisis could have profound long-term economic consequences. The crisis is likely to have a major impact on globalization and global value chains, and it could bring about a rethinking of the social contract and the role of the state in major economies. The crisis and its aftermath may give an opportunity to strengthen climate mitigation efforts by ¡°tilting to green¡± the stimulus packages adopted by governments. The way we work is likely to change as well, with flexible and home-based work becoming more widespread.