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The Plague Years

In: Aid, Trade and Development

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  • Constantine Michalopoulos

Abstract

This chapter will summarize the impact of the pandemic on the global economy, the main developments in trade and aid policy in 2020–2021 and how they affected global poverty and sustainable development. After the initial shock, economies in the wealthy countries started a strong and rapid recovery. But, as these nations began to enjoy a return to prosperity and a semblance of normality, the pandemic continued to ravage the developing countries. The world is facing a two track recovery driven by dramatic differences in vaccine availability, infection rates, and the ability to provide financial support. As a result, COVID-19 has been doing the greatest harm to precisely the people—in precisely the places—that can least afford it, and thus has set back significantly the prospects for sustainable development.

Suggested Citation

  • Constantine Michalopoulos, 2022. "The Plague Years," Springer Books, in: Aid, Trade and Development, edition 2, chapter 0, pages 341-357, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-96036-0_12
    DOI: 10.1007/978-3-030-96036-0_12
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