November 17, 2021

Economic Research: Asia-Pacific’s Recovery Regains Its Footing

Asia-Pacific, after success in suppressing COVID-19 in the first stage of the pandemic, has stumbled in the shift to vaccination and reopening. Early success may have bred some complacency and the vaccine rollout was slow to start, as governments were late to secure supplies and residents were hesitant to get a jab, at least initially.

This has changed. Earlier defenses have been breached by new variants and pandemic fatigue. Intermittent and targeted lockdowns have returned. In response, governments sped up domestic production of vaccines or scaled up orders from abroad, and started to promote mass vaccinations. Perhaps even more important, rising infections appears to have reduced vaccine hesitancy among populations.

The vaccination gap with Europe and the U.S. should keep closing but a slow start has already affected the outlook. Many Asia-Pacific…

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