E The Advanced Economies Are Really Recovering From The Pandemic Recession

While China’s economy already exceeds its 2020 pre-pandemic level, many other countries are not expected to do so until 2023.

As these projections indicate, the recovery from the pandemic recession will be much weaker for many emerging markets and developing economies that are already suffering from slumps in tourism and weaker commodity exports. Many of these countries simply lacked the financial resources required to counter the pandemic downturn.

In closing, the huge fiscal stimulus in the US (i.e., $1.9 trillion), along with improved vaccine rollouts in the wealthier countries, has made economists far more confident about the world’s economic recovery this year. Unfortunately, the global economic recovery will likely result in major differences across countries and sectors.

 Finally, it goes without saying that a high degree of uncertainty surrounds these economic projections. Among the main uncertainties is the future path of the pandemic and, of course, the effectiveness of the economic policy supports in the advanced economies.

(Click on image to enlarge)

(Click on image to enlarge)

 

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