World Bank East Asia and Pacific Economic Update, April 2021 : Uneven Recovery

A year after the first case was confirmed in Wuhan COVID-19 is proving hard to suppress even, while the emergence of more transmissible variants of the variant poses new challenges to the containment of the disease globally. The economies of the region began to bounce back in the second half of 2020...

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Main Author:	World Bank
Format:	Serial
Published:	Washington, DC: World Bank 2021
Subjects:	DEBT DIGITAL FINANCE FISCAL TRENDS FISCAL BUFFER ECONOMIC GROWTH ECONOMIC OUTLOOK INFRASTRUCTURE MALNUTRITION UNDERNUTRITION LOW-CARBON DEVELOPMENT CARBON POLICY CORONAVIRUS COVID-19 PANDEMIC RESPONSE FISCAL POLICY RESPONSE VACCINATION DEPLOYMENT
Online Access:	https://documents.worldbank.org/en/publication/documents-reports/documentdetail/697271616770639068/world-bank-east-asia-and-pacific-economic-update-april-2021-uneven-recovery http://hdl.handle.net/10986/35272

id	okr-10986-35272
recordtype	oai_dc
spelling	okr-10986-352722021-11-12T17:07:28Z World Bank East Asia and Pacific Economic Update, April 2021 : Uneven Recovery World Bank DEBT DIGITAL FINANCE FISCAL TRENDS FISCAL BUFFER ECONOMIC GROWTH ECONOMIC OUTLOOK INFRASTRUCTURE MALNUTRITION UNDERNUTRITION LOW-CARBON DEVELOPMENT CARBON POLICY CORONAVIRUS COVID-19 PANDEMIC RESPONSE FISCAL POLICY RESPONSE VACCINATION DEPLOYMENT A year after the first case was confirmed in Wuhan COVID-19 is proving hard to suppress even, while the emergence of more transmissible variants of the variant poses new challenges to the containment of the disease globally. The economies of the region began to bounce back in the second half of 2020. However, only China and Vietnam have followed a V-shape recovery path with output surpassing pre-COVID-19 levels. Most of the other countries have not seen a full-fledged recovery in terms of either output or growth momentum. Economic performance across countries continues to depend on (i) the efficiency with which the virus is contained; (ii) the ability to take advantage of the revival in international goods trade; and (iii) the capacity of governments to provide fiscal and monetary support. China and Vietnam are expected to enjoy strong growth in 2021, whereas other economies in the region will grow more gradually. Many economies, especially in the Pacific islands are not expected to reach pre-COVID-19 levels of output until 2022 or later. Governments in the region need to work cooperatively to address three key issues: (i) a regional and global distribution of vaccines that minimizes the risk of a continued spread of COVID-19 and its variants; (ii) continue to provide economic support to their economies while carefully evaluating the trade-offs between the need for further stimulus and debt sustainability; and (iii) enact policies and prioritize investments that protect against climate risk to ensure sustainable economic growth. 2021-03-16T14:53:53Z 2021-03-16T14:53:53Z 2021-03-25 Serial https://documents.worldbank.org/en/publication/documents-reports/documentdetail/697271616770639068/world-bank-east-asia-and-pacific-economic-update-april-2021-uneven-recovery 978-1-4648-1702-1 http://hdl.handle.net/10986/35272 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC: World Bank Publications & Research :: Publication Publications & Research East Asia and Pacific East Asia Oceania
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
topic	DEBT DIGITAL FINANCE FISCAL TRENDS FISCAL BUFFER ECONOMIC GROWTH ECONOMIC OUTLOOK INFRASTRUCTURE MALNUTRITION UNDERNUTRITION LOW-CARBON DEVELOPMENT CARBON POLICY CORONAVIRUS COVID-19 PANDEMIC RESPONSE FISCAL POLICY RESPONSE VACCINATION DEPLOYMENT
spellingShingle	DEBT DIGITAL FINANCE FISCAL TRENDS FISCAL BUFFER ECONOMIC GROWTH ECONOMIC OUTLOOK INFRASTRUCTURE MALNUTRITION UNDERNUTRITION LOW-CARBON DEVELOPMENT CARBON POLICY CORONAVIRUS COVID-19 PANDEMIC RESPONSE FISCAL POLICY RESPONSE VACCINATION DEPLOYMENT World Bank World Bank East Asia and Pacific Economic Update, April 2021 : Uneven Recovery
geographic_facet	East Asia and Pacific East Asia Oceania
description	A year after the first case was confirmed in Wuhan COVID-19 is proving hard to suppress even, while the emergence of more transmissible variants of the variant poses new challenges to the containment of the disease globally. The economies of the region began to bounce back in the second half of 2020. However, only China and Vietnam have followed a V-shape recovery path with output surpassing pre-COVID-19 levels. Most of the other countries have not seen a full-fledged recovery in terms of either output or growth momentum. Economic performance across countries continues to depend on (i) the efficiency with which the virus is contained; (ii) the ability to take advantage of the revival in international goods trade; and (iii) the capacity of governments to provide fiscal and monetary support. China and Vietnam are expected to enjoy strong growth in 2021, whereas other economies in the region will grow more gradually. Many economies, especially in the Pacific islands are not expected to reach pre-COVID-19 levels of output until 2022 or later. Governments in the region need to work cooperatively to address three key issues: (i) a regional and global distribution of vaccines that minimizes the risk of a continued spread of COVID-19 and its variants; (ii) continue to provide economic support to their economies while carefully evaluating the trade-offs between the need for further stimulus and debt sustainability; and (iii) enact policies and prioritize investments that protect against climate risk to ensure sustainable economic growth.
format	Serial
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	World Bank East Asia and Pacific Economic Update, April 2021 : Uneven Recovery
title_short	World Bank East Asia and Pacific Economic Update, April 2021 : Uneven Recovery
title_full	World Bank East Asia and Pacific Economic Update, April 2021 : Uneven Recovery
title_fullStr	World Bank East Asia and Pacific Economic Update, April 2021 : Uneven Recovery
title_full_unstemmed	World Bank East Asia and Pacific Economic Update, April 2021 : Uneven Recovery
title_sort	world bank east asia and pacific economic update, april 2021 : uneven recovery
publisher	Washington, DC: World Bank
publishDate	2021
url	https://documents.worldbank.org/en/publication/documents-reports/documentdetail/697271616770639068/world-bank-east-asia-and-pacific-economic-update-april-2021-uneven-recovery http://hdl.handle.net/10986/35272
_version_	1764482687512346624

World Bank East Asia and Pacific Economic Update, April 2021 : Uneven Recovery

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