World economy facing crisis even bigger than in 2008: Jim O'Neill

Jim O'Neill, chair of the international think tank Chatham House and a former commercial secretary to the UK Treasury, told Vision China the world economy is facing a crisis even bigger than in 2008, and a more complicated situation because this crisis is triggered by public health instead of economics.

"We need urgency, imagination and determination around the world, and if we do not, the recession the world inevitably already got into in the past few weeks will end up being very severe," he said in his speech.

O'Neill said China's getting back to normal growth is almost definitely key for the performance of the world economy.