The U.S. economy is now larger than it was before the coronavirus pandemic, but while new numbers show an upturn, it’s slower growth than expected.
Meanwhile, the International Monetary Fund warned the global economy risks losing $4.5 trillion from Covid-19 variants spreading through developing countries with low vaccination rates. Correspondent Giles Gibson has a report.
To discuss the global economic challenges:
- John Gong is an economics professor at Beijing’s University of International Business and Economics.
- Rajiv Biswas is Executive Director and a Asia-Pacific Chief Economist at IHS Markit, a business consulting firm.
- John Quelch is a Vice Provost at the University of Miami and Dean of the Herbert Business School.
- Ryan Patel is a global business executive and a senior fellow at Claremont Graduate University’s Drucker School of Management.
What's in the $1 trillion bipartisan infrastructure plan? https://t.co/s7iBCuZvE6
— NYT Politics (@nytpolitics) July 29, 2021
We project growth of 6.3% forecast for emerging market and developing economies for 2021 – a 0.4% downgrade from April 2021. However, the outlook can improve with access to vaccines. Read the latest World Economic Outlook to learn more. https://t.co/yxs2PsXM89 #WEO pic.twitter.com/y8Q4MyYy4I
— IMF (@IMFNews) July 27, 2021
— New York Post (@nypost) July 29, 2021