Economic recovery in the world and in the United States at the beginning of the third decade

P. A. Aksenov ()

International Trade and Trade Policy, 2021, vol. 7, issue 3

Abstract: The speed of the economic is estimated to improve at the beginning of the third decade. After pandemic stress and economic restrictions of the last year, the domestic product of the world is expected to grow during the current year, with G 20 countries (as a whole), and especially China, doing better than the world and much better than for example the countries of the euro zone. The economic activities in the United States, after slowing at the end of the last year; tend to grow higher than the major advanced economies in Europe are projected. Different economic growth rates are also among the sectors, and the economies that most dependent on travel, tourism, other services suffer most. As to world merchandise trade it shows returning to pre-pandemic levels. But time is needed for consumer confidence recovering progress, labour market improving, losses due to increased poverty. Meanwhile the fiscal support continues growing with records leading, for example, in the United States to budget deficit exceeding one of the last year. The effects of the planned fiscal stimulus remain mainly uncertain concerning both economic activities and the prospects of raising tax revenues to moderate the speed of growing budget deficit.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:acl:journl:y:2021:id:463

DOI: 10.21686/2410-7395-2021-3-23-29

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