Some might think it premature to say this but we’ll say it anyway. The worst of the Covid pandemic is over. Yes, there will be occasional new waves of infections and there will even be episodic scares about new variants.

But the number of fatalities, the strain on medical systems and the damage done to economic activity from each new wave will diminish over time as doctors, policymakers, businesses and ordinary folks find ways to adjust to this dastardly virus.

Sadly, there will be a bifurcated world: the developed economies such as the US, Europe and Japan as well as China, the other East Asian economies, Australia, New Zealand and a few places like the United Arab Emirates and Singapore will do fairly well. The others may take longer to establish the vaccination programmes and improved public health procedures that will finally contain the pandemic.

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