SINGAPORE (July 21): The global economy is expected to return to pre-Covid-19 levels by 4Q2020, with developed markets (DMs) recovering by 4Q2021, say Morgan Stanley analysts in a July 15 report.

The report comes on the back of an embattled US, where Covid-19 infections have reached record highs over consecutive days. Six months after the pandemic first reached the US, over 3,754,000 cases have been reported, with at least 137,000 deaths.

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