The coronavirus pandemic will end in the second quarter of 2021, and within a year the global economy will return to normal.
“The market is already looking beyond the current rise in coronavirus and betting that the economy will return to normal in 2021,” the economist said. In his view, Asian economies, which are “already doing better,” will recover faster than others.
For example, the economy of China in the first quarter will show a GDP growth rate close to 10 percent. Northern European economies will follow, with the U.S., the U.K. and the Middle East coming in third.
Jacobsen noted that this will be made possible by a breakthrough in science. He noted that no one could have predicted that vaccine production would begin just nine months after the COVID-19 pandemic began, as it usually takes several years.
At the same time, the expert did not rule out that the virus could mutate, but expressed confidence that if science defeats the virus, it will also cope with all its deviations. “In 2020, science was able to prove once again that you have to trust the human ability to invent something new,” he concluded.
Earlier, immunologist Ugur Sahin, founder of BioNTech, which is developing a vaccine against the coronavirus with Pfizer, said the pandemic will subside by early next winter. Defeating the spread of SARS-CoV-2 will be possible thanks to widespread use of the vaccine, which will halve the number of cases of pathogen transmission.