The pandemic has caused the world’s economies to diverge

The Economist |

Photo by Markus Winkler on Unsplash

As recovery from COVID-19 takes place, huge gaps between the performance of countries are opening up—which could yet recast the world’s economic order. By the end of next year, according to the OECD, America’s economy will be the same size as it was in 2019 but China’s will be 10% larger. Europe will still languish beneath its pre-pandemic level of output and could do so for several years—a fate it may share with Japan, which is suffering a demographic squeeze.

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