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Global economy to see uneven recovery in 2021
The
global economy is expected to grow by 5% in 2021, returning to 2019
levels by year-end, with 6.3% projected for emerging markets,
versus 3.9% for advanced economies. Emerging Asian countries, led
by China and India, will recover much more strongly than the rest
of the world.
Despite
the optimism, a significant hit to the global economy in H1 2021 is
still possible. A stretched wave of global infections, the new
emergence of new variants, and the reintroduction of severe and
long-lasting lockdowns could lead to W-shaped recovery, with higher
levels of economic scarring, insolvencies, and unemployment.
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Introduction
