I'm not sure we ever had a global recession. Perhaps in ww2 as this was a disaster, but since then the world gdp was always positive. This time though we might see it. And everyone has an excuse ready, so there won't even be inquiries and research on what actually happened. All the problematic financial industries as the derivatives won't meet any new regulation restricting their inflation of the bubble and the problems will be passed to the next decade making the effect of a collapse ten times bigger.