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Covid Will Leave Deep Scars in World Economy

Thursday, 04 22 2021, Category: Economy, Country: World
Just as some patients recovering from Covid-19 suffer long-lasting symptoms, it’s becoming clear that the same will be true for the global economy once this year’s V-shaped rebound fades.

While $26 trillion worth of crisis support and the arrival of vaccines have fueled a faster recovery than many anticipated, the legacies of stunted education, the destruction of jobs, war-era levels of debt and widening inequalities between races, genders, generations and geographies will leave lasting scars, most of them in the poorest nations.

“It’s very easy after a gruelling year or more to feel really relieved that things are back on track,” said Vellore Arthi of the University of California, Irvine, who has examined the long-term health and economic hit from past crises. “But a lot of the effects that we see historically are often for decades and are not easily addressed.”


Source: bloomberg.com
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