Uneven global vaccination threatens economic rebound, OECD warns

China, the world’s second-largest economy, is expected to grow 8.5% this year, before slowing to 5.8% in 2022. Asked about the impact of ...


China, the world’s second-largest economy, is expected to grow 8.5% this year, before slowing to 5.8% in 2022. Asked about the impact of the potential collapse of the debt-ridden real estate giant EvergrandeMs Boone said the agency expects China to deal with any fallout.

And despite a terrible Delta variant outbreak in India earlier this year, the economy is expected to remain largely on track with 9.7% growth, before cooling to 7.9% next year.

In contrast, countries with lower vaccination rates lag significantly behind others, the organization said. In Indonesia, which has vaccinated just 16 percent of the population, the economy is expected to grow by 3.7 percent, one of the slowest rates among OECD countries. Russia, with vaccination rates of around 30 percent, will experience slower-than-expected growth of 2.7 percent.

But robust numbers in the wealthiest economies masked lingering problems, with the recovery benefiting people unevenly.

Growth in the United States has returned to pre-pandemic levels, but employment remains below what it was before the economic restrictions. In Europe, which deployed billions to protect its businesses and workers from mass unemployment and bankruptcy at the height of the crisis, jobs have been largely preserved.

And the virus and lagging vaccination rates continue to hamper the functioning of the global economy, disrupting supply chains, the OECD said.

“Some parts have not left factories in countries affected by virus outbreaks,” Ms. Boone said. As a result, many companies are running out of inventory and slowing production, which in turn pushes up prices for a range of products, but the rise is expected to subside once the bottlenecks in the chain dump. supply will diminish.

Inflation will subside faster from current alarming levels if immunization programs accelerate.

“If we continue to vaccinate and better adapt to living with the virus, the supply will start to normalize and that pressure will subside,” Ms. Boone said. “But for that we need to vaccinate more people. “

Source Link

COMMENTS

Name

Africa,903,Americas,4285,Art & Culture,15714,Arts,6713,Arts & Design,1835,Asia,3508,Automobile,518,Baseball,767,Basketball,605,Books,4122,Business,5586,Celebrity,2633,Cricket,648,Crime,158,Cryptocurrency,1936,Dance,644,Defense,836,Diplomatic Relations,2496,Economy,1295,Editorial,260,Education,1418,Elections,308,Energy & Environment,3132,Entertainment,23366,Environment,3860,Europe,4448,Faith & Religion,235,Family & Life,817,Fashion & Style,3544,Finance,21151,Food & Drink,4017,Football,1219,Games,97,Gossip,10289,Health & Fitness,4365,Health Care,956,Hockey,248,Home & Garden,920,Humour,994,Latin America,49,Lifestyle,18101,Media,527,Middle East,1668,Movies,1945,Music,2870,Opinion,3720,Other,12754,Other Sports,5336,Political News,11324,Political Protests,2324,Politics,18424,Real Estate,2146,Relationship,106,Retail,3116,Science,2860,Science & Tech,10808,Soccer,333,Space & Cosmos,404,Sports,13082,Technology,3684,Tennis,681,Theater,1870,Transportation,313,Travel,2761,TV,3910,US,1238,US Sports,1481,Video News,3531,War & Conflict,1069,Weird News,998,World,17631,
ltr
item
Newsrust - US Top News: Uneven global vaccination threatens economic rebound, OECD warns
Uneven global vaccination threatens economic rebound, OECD warns
https://static01.nyt.com/images/2021/09/21/business/21economic-briefing-oecd-report/merlin_195060963_925c9b5b-3f63-4bb8-aae8-100971e8a20e-facebookJumbo.jpg
Newsrust - US Top News
https://www.newsrust.com/2021/09/uneven-global-vaccination-threatens.html
https://www.newsrust.com/
https://www.newsrust.com/
https://www.newsrust.com/2021/09/uneven-global-vaccination-threatens.html
true
732247599994189300
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy Table of Content