From a global perspective, the global economy will grow by 5.5% in 2021. Although important progress in vaccination and strong economic stimulus measures in countries, especially developed countries, have effectively boosted consumption and investment, and lifted international trade to pre-pandemic levels, the recovery has been uneven, with Africa, Latin America and The economic recovery of developing countries in the Caribbean region is lagging behind.

As for the future direction of the economy, due to the threat of a new variant of the new coronavirus pneumonia virus, a weak labor market, weak supply chain guarantees, and rising inflationary pressures, the global economic recovery faces huge obstacles. Global economic growth is expected to slow to 4% in 2022 and 3.5% in 2023. Among them, the United States will be 5.5% in 2021, 3.5% in 2022, and 2.4% in 2023.

Looking ahead, countries face difficult policy choices. As UN Secretary-General Antonio Guterres said: “If we stand united, we can make 2022 a year of real human and economic recovery.” To this end, countries should adhere to multilateralism, ensure universal access to vaccines, and actively deal with debt challenges, effectively de-escalating trade tensions, and working to reduce carbon emissions for a stronger, more inclusive and more sustainable recovery.