While the US, China, and other leading economies are on their way to a robust recovery, many others are struggling to return to pre-pandemic GDP levels. In most regions, including Europe and Latin America, the 2020 recession will most likely leave long-lasting scars on both GDP and employment.
ITHACA, NEW YORK – The chances for a swift, uniform rebound from the COVID-19 crisis have dimmed, and the world economy now faces sharply divergent growth prospects. Although the latest update of the Brookings-Financial Times Tracking Indexes for the Global Economic Recovery (TIGER) offers some grounds for optimism, it also raises renewed concerns. Vaccination euphoria has been tempered by slow vaccine rollouts in most countries, while fresh waves of COVID-19 infections are threatening many economies’ growth trajectories.
ITHACA, NEW YORK – The chances for a swift, uniform rebound from the COVID-19 crisis have dimmed, and the world economy now faces sharply divergent growth prospects. Although the latest update of the Brookings-Financial Times Tracking Indexes for the Global Economic Recovery (TIGER) offers some grounds for optimism, it also raises renewed concerns. Vaccination euphoria has been tempered by slow vaccine rollouts in most countries, while fresh waves of COVID-19 infections are threatening many economies’ growth trajectories.