SINGAPORE (July 9): In recent days, renewed concerns have been expressed about the recovery in the global economy as the number of new Covid-19 infections in the United States, India and Brazil surged — precipitating fresh lockdowns in many cases. Worse still, a few new clusters of infections emerged even in countries that had managed the pandemic reasonably well, such as Australia. Because Asia’s prospects hinge on how quickly global demand can revive, we need to determine whether the world economy could really be set back by these developments. 

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