The global economy will accelerate in 2021, though with significant variation around the world. The world will benefit from vaccinations, both directly in fewer illnesses and indirectly as lockdowns and fears subside. It will take most of 2021 and into 2022 for the full benefits of vaccination to be felt, and maybe even longer in poorer countries, but America’s major trading partners should look good next year.

The OECD recently reported, “Prospects have improved over recent months with signs of a rebound in goods trade and industrial production…. Global GDP growth is now projected to be 5.6% this year …. World output is expected to reach pre-pandemic levels by mid-2021.”

The International Monetary Fund predicts similar growth.

Skepticism about the statements of political organizations make sense, but…

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