VIR Stock – Vir Biotechnology Inc (VIR) EVP, Research & CSO Herbert Virgin Sold

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VIR Stock – Vir Biotechnology Inc (VIR) EVP, Research & CSO Herbert Virgin Sold $503,546 of Shares

Bloomberg

World Economy Risks ‘Dangerously Diverging’ Even as Growth Booms

(Bloomberg) — The world economy is on course for its fastest growth in more than a half century this year, yet differences and deficiencies could hold it back from attaining its pre-pandemic heights any time soon.The U.S. is leading the charge into this week’s semi-annual virtual meeting of the International Monetary Fund, pumping out trillions of dollars of budgetary stimulus and resuming its role as guardian of the global economy following President Joe Biden’s defeat of “America First” President Donald Trump. Friday brought news of the biggest month for hiring since August.China is doing its part too, building on its success in countering the coronavirus last year even as it starts to pull back on some of its economic aid.Yet unlike in the aftermath of the 2008 financial crisis, the recovery looks lopsided, in part because the rollout of vaccines and fiscal support differ across borders. Among the laggards are most emerging markets and the euro area, where France and Italy have extended restrictions on activity to contain the virus.“While the outlook has improved overall, prospects are diverging dangerously,” IMF Managing Director Kristalina Georgieva said last week. “Vaccines are not yet available to everyone and everywhere. Too many people continue to face job losses and rising poverty. Too many countries are falling behind.”The result: It could take years for swathes of the world to join the U.S. and China in fully recovering from the pandemic. By 2024 world output will still be 3% lower than was projected before the pandemic, with countries reliant on tourism and services suffering the most, according to the IMF.The disparity is captured by Bloomberg Economics’ new set of nowcasts which shows global growth of around 1.3% quarter on quarter in the first three months of 2021. But while the U.S. is bouncing, France, Germany, Italy, the UK. and Japan are contracting. In the emerging markets, Brazil, Russia and India are all being clearly outpaced by China.For the year as whole, Bloomberg Economics forecasts growth of 6.9%, the quickest in records dating back to the 1960s. Behind the buoyant outlook: a shrinking virus threat, expanding U.S. stimulus, and trillions of dollars in pent-up savings.Much will depend on how fast countries can inoculate their populations with the risk that the longer it takes the greater the chance the virus remains an international threat especially if new variants develop. Bloomberg’s Vaccine Tracker shows while the U.S. has administered doses equivalent to almost a quarter of its people, the European Union has yet to hit 10% and rates in Mexico, Russia and Brazil are less than 6%.“The lesson here is there is no trade-off between growth and…



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