ECONOMIC REVIEW

GLOBAL ECONOMIC ANALYSIS

Based on observations made in the first week of August 2021, globally recovery occurred at different rates according to the duration of the first infection stage. In general, we saw four different stages in the recovery of COVID-19 for each country, namely, “continuation”, “resurgence”, “crush and contain”, and “vaccinated”. Countries at the “continuation” stage were still struggling to reduce infection rates and had not succeeded in leveling infection rates/flattened the curve e.g. Argentina, Brazil. Several other countries such as France, Spain and Germany were experiencing a “resurgence” stage. In this stage transmissions that had been successfully suppressed before, “flattened” again experienced a new wave of infections. Several countries also succeeded in reducing infection rates, and have consistently managed to prevent large-scale increases in infections such as Australia, Singapore, and South Korea. These countries were in the “crush and contain” stage. In the fourth category, transmissions are still increasing and decreasing, but decreasing as the vaccination rate increases. Countries such as United State of America, Britain, and Israel belong to this stage called the “vaccinated” stage.