The latest from the OECD is less gloomy about the immediate economic impact of COVID-19 than it was in June. We must now take the measures needed to restore confidence and bring economies back to life.
COVID-19 has been a devastating global shock. But the news on vaccines is really encouraging. The economic impact has also not been quite as bad as feared about half a year ago.
Moreover, a sane and decent man is soon going to take over as president of the US. Just maybe, the world will emerge from the nightmare sooner and in better shape than many feared.
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Financial Times
Martin Wolf is chief economics commentator at the Financial Times, London. He was awarded the Commander of the British Empire in 2000 “for services to financial journalism”.
