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'Winners' and 'losers' from Covid-19

China is a clear winner; US a distant second; Europe and the UK are among the losers; India an also-ran

Topics
Coronavirus | China | IMF

Shankar Acharya 

Shankar Acharya

Sometimes, I like to construct a table and look at it for a while to see what key features emerge. If a picture is worth a thousand words, a good table can sometimes be equal to a few hundred, and worth sharing with readers. This is one of those where the table is the story. It draws, principally, from the latest (April, 2021) issue of the IMF’s World Economic Outlook (WEO) and its projections of economic growth for 2021 and 2022. The lens through which I am looking at this data is to explore who may be the “winners” and “losers”, in relative terms, from the pandemic disaster, which has plagued the world since the end of 2019. Let me emphasise one important caveat upfront: The discussion is limited to numbers on growth and levels of GDP. There are many other consequences of the Covid shock, notably, on employment, incomes, poverty and health, which are elided.

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First Published: Thu, June 10 2021. 00:21 IST
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