Analysts warn against obstacles to economic recovery

From China being the first to save the world to the United States taking the baton from it, global GDP will grow by + 5.1 percent in 2021, encountering obstacles that are easy to identify but no longer overcome, according to analyzes by Euler Hermes and Allianz Research.

The global recovery is on track, although it does depend on key elements – different from one country to another, bringing together global GDP growth of 5.1 percent in 2011 and 4 percent in 2022. The United States is responsible for a quarter of the value of this recovery, while China – which gave the first impulse to reconstruction already in 2020 – will contribute to growth to a lesser extent due to the gradual departure from an accommodative (growth-supporting, including cheap credit) economic policy. Economists Euler Hermes and Allianz Research believe that the reflection is an expansive mix of economic policies of many countries, but the prevalence of support plans does not mean an even rebound. The risk of implementing the assumptions of these plans (including vaccinations) will remain a key factor differentiating between countries. That is why Europe will recover from Covid-19 only in the horizon of 2022, while the USA in the second half of 2021.

(WBJ)