In 2021, the countries of the world will quickly restore their economy after the crisis caused by the coronavirus pandemic, but some, including Russia, can retard from the “leaders of the postpandemic world” – the United States and China. This is due to the rate of vaccination of the population from COVID-19 and a rigid monetary policy, Bloomberg Economics writes.
Experts predict that in general, the restoration of the global economy will go a record pace and its growth will be a record for more than half a century 6.9 percent. At the same time, unlike the 2008 crisis, this recovery can be one-sided nature due to different rates of vaccination and different financial policies of states.
The main engine of recovery will be the United States, while the economy of countries such as France, Germany, Italy, the United Kingdom and Japan will continue to decline. Among developing countries in front of all there will be China, which was able to defeat the epidemic of COVID-19, and Brazil, India and Russia will “explicitly give up.” In many ways, it depends on how rapidly countries will be able to vaccinate a significant part of its population. According to Bloomberg experts, almost a quarter of the population is vaccinated, while in the European Union, this figure has not yet reached 10 percent, in Mexico, Brazil and Russia – 6 percent.
The second reason why many countries will begin to lag from the United States and China – various financial policies. According to the main economist, JPMorgan Chase Bruce Kasman, in 2020 most Central Banks, including in Turkey, Brazil and Russia, in response to a pandemic caused crisis reduced interest rates, but now they began to tighten the monetary policy, fearing accelerating inflation or capital outflow.