Comment: Pandemic will leave global economy with deep scars

Even in the best-case scenario, Covid-19’s impact on business and governments will be felt long after the virus has receded, but new opportunities will also arise

3rd September, 2020
Comment: Pandemic will leave global economy with deep scars
The coronavirus could prove more stubborn than expected, and the first-generation vaccines may be effective only for a short period or have worse-than-anticipated side effects. Picture: Getty

The next few months will tell us a lot about the shape of the coming global recovery. Despite ebullient stock markets, uncertainty about Covid-19 pervades. Regardless of the pandemic’s course, therefore, the world’s struggle with the virus so far is likely to affect growth, employment and politics for a very long time.

Let’s start with the possible good news. In an optimistic scenario, regulators will have approved at least two leading...

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