There's unlikely to be a sharp, synchronised rebound in the global economy as investors fret about a second wave of COVID-19 infections, according to Sheila Patel, chairman of Goldman Sachs Asset Management.

Sheila Patel: "We have a long way to to before we are on solid footing." Daniel Munoz

Instead, she's envisaging a firm recovery in particular sectors or regions as the pandemic loosens its grip.

"I think that people have looked for V-shaped recoveries but what we see is a series of recoveries – smaller – by sector, by region and alot of concern about second waves," she said.

"I think that we are in the middle of the game. We are nowhere near the end of the game in terms of this crisis."

Ms Patel was speaking on a panel with Jean Eric Salata, CEO of Baring Private Equity Asia, at a virtual Bloomberg conference streamed from Hong Kong this week.

Sarah Turner has the full story on Goldman's views over an economic recovery.