Whether this optimism is fully justified, or merely the economic consequence of a stimulus-funded global growth cycle that is not yet fully understood, is largely irrelevant. The signs indicate that we are now entering a period of reopening economies, the gradual return of free-flowing capital, and an invaluable opportunity to once more kick-start growth.
After a tumultuous year for global business, fledgling signs of a post-Covid economic recovery offer green shoots of hope. Not only does this provide a welcome aura of optimism, early signs indicate this recovery could be accelerating at a pace faster than might previously have been expected.
The World Bank estimates that the global economy will expand by 4% in 2021, following a 4.3% contraction in a challenging 2020. The growth projections for East Asia and Pacific are more positive still, predicted to accelerate by 7.4% in 2021. This is expected to be driven by buoyant recovery in China, and significant rebounds in Southeast Asian countries such as Malaysia and Vietnam.
