The Banking Executive Magazine - April 2021

The Global Economy’s Uneven Recovery The Global Economy’s Uneven Recovery While the US, China, and other lead- ing economies are on their way to a robust recovery, many others are struggling to return to pre-pandemic GDP levels. In most regions, includ- ing Europe and Latin America, the 2020 recession will most likely leave long-lasting scars on both GDP and employment. The chances for a swift, uniform re- bound from the COVID-19 crisis have dimmed, and the world econ- omy 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. Vacci- nation euphoria has been tempered by slow vaccine rollouts in most countries, while fresh waves of COVID-19 infections are threatening many economies’ growth trajecto- ries. the BANKING EXECUTIVE 8 ISSUE 148 APRIL 2021