Why is the Global Economy Recovering Faster?

 

Emilio San Vicente


Mr. Roddy


HISS


5/2/21


Why is the Global Economy Recovering Faster? 


We have been living since 2020 with a virus known as Covid-19, which changed our lives in many ways that we didn't even expect. There were a lot of aspects which our lives changed in social aspects and even economic aspects. The recovery from this virus might be tough and difficult to overcome but economics thankfully has been recovering stronger and faster than people expected, which is something completely amazing. The question now is; But will it keep like that? Looking for example the United States, we can take three main things that affect the pandemic, finance and housing, durable goods, and hospitality (among others). 


With this article, I understood the importance of many factors that contribute to having a healthy economy for any country in the world. I personally think that this event that happened to the US economy and also to other countries which have a strong recovery is because most of these are countries that have a big role in terms of economy and resources in the world like the United States and even China. This doesn’t mean that we will be in a complete recovery tomorrow, but this article was trying to express that it is moving a little faster than expected, it will take time to completely recover. What I saw about these countries with a powerful background is that the article shows how these countries were also focused in terms of having a vaccine which I think that this part is a primary sector that needs to be recovered first because, without a vaccine, there will not be economics which it is a smart move by The United States and other powerful countries. This topic is relevant to economics because the economy mainly serves to keep people with money and jobs, if the economy has any problems in terms of global problems such as the pandemic, the economy of a country could not host jobs for people and international trade would have limitations which in general affect people and also their health and living conditions.


Philip, Carlson."Why the Global Economy is Recovering Faster than Expected" Harvard Business Review, 3 November. 2020, https://hbr.org/2020/11/why-the-global-economy-is-recovering-faster-than-expected. 


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