Deputy Dean of the School of Management, Cranfield University in the United Kingdom (UK) and Professor of Global Economy, Joe Nellis, on March 1, 2021, made a presentation on the prospects of the global economy in the aftermath of the Covid-19 pandemic.
Making the presentation, Professor Nellis noted that, the USA and the EU alone, have spent a combined $10 trillion in fiscal stimulus packages to tackle the adverse impacts of the pandemic on their economies.
Adding, fiscal stimulus spent so far by world governments is the biggest in several decades.
According to Professor Nellis, had governments around the world not acted swiftly in managing the Covid-19 crisis, the global economy would have plunged into a deep depression – at least 2 years of continuous negative Gross Domestic Product (GDP) growth.
He also noted that most economies around the world on the back of a successful vaccination programme will experience a V-shaped economic recovery.
Other countries will however, experience a U-shaped economic recovery with a few experiencing W-shaped economic recovery.
On his outlook for the global economy, Professor Nellis, stated that there would be a strong positive global economic growth occasioned by the vaccine rollout and more fiscal stimulus packages by governments especially in major economies.
International trade he also mentioned, will grow by 8 per cent this year.
Find below details of Professor Joe Nellis’ presentation:
Legon Lecture 1 March 2021 by Fuaad Dodoo on Scribd
