In advanced economies, particularly  Source: CEIC, calculated  Source: CEIC, calculated  8  the US, economic recovery is progressing more rapidly, supported by unprecedented fiscal and monetary stimuli. The stimulus package from the government and central bank is funneled into vaccination programs, social and business assistance, as well as the injection of massive liquidity (quantitative easing) to the financial system.
On the other hand, most EMDEs, except China, are still struggling to improve their domestic economic conditions towards economic recovery. In addition to limited vaccine supply, finite fiscal and monetary stimulus capacity has also undermined the economic recovery process.