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Here’s How the U.S., Europe, and China Are Faring in the Post-Pandemic Race for Economic Growth

Despite the gloomy expectations of recent years, global growth has held up relatively well. However, a succession of shocks–the pandemic, inflation, and the Ukraine war–has tested the resilience of the U.S., Europe, and China in disparate ways.

This researched was published on February 12, 2024

Despite the gloomy expectations of recent years, global growth has held up relatively well. However, a succession of shocks–the pandemic, inflation, and the Ukraine war–has tested the resilience of the U.S., Europe, and China in disparate ways. Most significantly, the U.S., starting as a laggard in 2020, is the only bloc that is making a run at returning to its pre-pandemic growth trajectory.

To capture the three blocs’ resilience and new growth trajectories, it is not sufficient to compare their growth rates as each has structural components. Instead, the changing fortunes are revealed in each bloc’s ability–or lack thereof–to fight its way back to their pre-pandemic growth path.