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WORLD BANK EAST ASIA AND PACIFIC ECONOMIC UPDATE OCTOBER 2021
LONG COVID
WORLD BANK EAST ASIA AND PACIFIC ECONOMIC UPDATE, OCTOBER 2021
Long COVID
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Attribution—Please cite the work as follows: World Bank. 2021. “Long COVID” East Asia and Pacific Economic Update (October),
World Bank, Washington, DC. Doi: 10.1596/978-1-4648-1799-1. License: Creative Commons Attribution CC BY 3.0 IGO
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ISBN (electronic): 978-1-4648-1799-1
DOI: 10.1596/978-1-4648-1799-1
Cover photo: Group of students wearing protective mask to Protect Against COVID-19 by Cavan Images © Getty Images. Used with
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LONG COVID
Contents
Executive Summary
Long COVID
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Part I. Recent Developments
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What Is Happening to the Economy?
What Explains Economic Performance?
What Are the Near-Term Economic Risks?
What Are the Policy Priorities for Recovery?
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Part II. Growth and Inequality
The Longer-Term Economic Risks
Firms and Technology
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Households and Inequality
Policies for Equitable Growth
Appendix Tables
References
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CONTENTS
EAST ASIA AND PACIFIC ECONOMIC UPDATE, OCTOBER 2021
List of Figures
Figure O.1. China is projected to grow faster than was expected, most other countries slower
Figure O.2. A downturn in economic activity has interrupted the EAP region’s uneven recovery
Figure O.3. Employment declined and fewer people will escape poverty
Figure O.4. Inequality is rising across multiple dimensions
Figure O.5. COVID-19 continues to hit countries directly and indirectly
Figure O.6. The resurgence of COVID-19 is driven by the Delta variant
Figure O.7. Mobility has become less sensitive to disease severity, and economic activity less sensitive to
reductions in mobility
Figure O.8. The relatively low level of vaccination and high levels of susceptibility are necessitating
stringent lockdowns and hurting growth in many EAP countries
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Figure O.9. Delivery drives vaccination, and delays are perceived as major problems
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