[streetcat1]

Yes.

The core of the issue is that there is neither a vaccine or a test, combined with asymptomatic carriers. Hence, the only way to combat this virus is a quarantine for the whole population, which causes severe economic damage.

Once you solve either of these issues (e.g. South Korea), there might be a fast recovery. Did South Korea enter into a depression?

In any crisis, it is easy to assume that the last crisis results will occur, but everything depends on the context.