A new German study concludes that children are a higher infection risk than originally thought. As they often have silent infections, they spread the virus all the more amongst each other. And they often suffer from late effects of the infection; memory loss and motorical nerve damage seems to be a quite frequent consequence

About 5% of tested school children were positive, while the average amongst adults is only 0.1-0.2%
As the economical problems concern all industrial nations, I think the overall effect is not that devastating. The relations between the countries remain the same. It's not as if some third world country would suddenly overtake us.
The US are being hit harder on a social level, though, since they have none of the emergency precautions European Countries have (mandatory health-, nursing- and unemployment-insurance for everyone, a minimum of 1-3 months notice to get fired, a minimum of 3 months notice to lose a rented appartment). When someone here loses their job because of Corona, they get all the help they need, including a minimum income and a roof over their heads. That's far more than they get in the US.
In my humble opinion that's the road the US ought to go, too, in the future since this is only the first of the modern plagues but surely not the last one. Obamacare was one tiny step in the right direction. It's abolishment and the resulting misery for the poorest and most vulnerable is another desaster you have to thank Trump for.