The world economy is on course to bounce back from the pandemic with a momentum that will carry through to next year and beyond.

This prediction, to which all the main economic forecasters subscribe – the International Monetary Fund, the World Bank and the Organisation for Economic Cooperation and Development (OECD) – is based on the successful rollout of Covid-19 vaccines in China, Russia, most of south-east Asia, Europe and the US.

Economists have adopted this optimistic view, while the vaccine-makers remain divided about the need to inoculate everyone in the world quickly to prevent new and more deadly strains of the virus from emerging.

Experts at the US’s National Institute of Allergy and Infectious Diseases (NIAID), which developed the vaccine manufactured by Moderna, and academics at Oxford University, who developed the vaccine made by AstraZeneca, say they fear a slow rollout. Covid variants will prove difficult to tackle…

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