Optimistic forecasts about ‘bouncing back’ will only come true if new variants do not close borders and devastate trade again
The world economy is on course to bounce back from the pandemic with a momentum that will carry through to next year and beyond.
This prediction, to which all the main economic forecasters subscribe – the International Monetary Fund, the World Bank and the Organisation for Economic Cooperation and Development (OECD) – is based on the successful rollout of Covid-19 vaccines in China, Russia, most of south-east Asia, Europe and the US.
Campaigners have shown the world could be vaccinated at a cost of $6.5bn-$25bn if patents were waived, compared with $100bn if not
