Glimmers Of Hope For World Economy, But Dangers Lurk

People wearing face masks to protect against the spread of the coronavirus walk through China Town in Yokohama, Kanagawa prefecture, near Tokyo, Tuesday, Dec. 1, 2020. (AP Photo/Koji Sasahara)

(AP) — The Organization for Economic Cooperation and Development predicts that the world economy will bounce back to its pre-pandemic levels by the end of next year. But the OECD said Tuesday the recovery will be uneven across the countries and big risks remain. The organization says that progress on coronavirus vaccines means that the outlook has improved for the first time since the pandemic began. It predicts the global economy will shrink about 4.2% this year and rebound by the same rate in 2021. China will enjoy the strongest rebound, with Europe lagging. It suggests governments should keep investing in areas that deliver long-term benefits, from health care to education to climate change.


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