In contrast, advanced economies as well as emerging market and developing economies other than China have seen a delay in economic recovery, and the real GDP growth rates of these economies are expected to return to pre-pandemic levels only in the second half of 2021.
Moreover, there are various risk factors with respect to the outlook for the global economy, such as developments regarding COVID-19, geopolitical factors, and climate change issues. Thus, accompanying downside risks continue to warrant particular attention.