In January 2020, as reports of COVID-19 were emerging from China and elsewhere, the World Bank forecasted global economic expansion at 2.5 percent for the year. By January 2021, a mere 12 months later, “with the pandemic still holding much of the world in its grip, the World Bank estimated that the global economy contracted by 4.3% in 2020, a turnabout of 6.8 percentage points.”1 Any discussion of the impact of COVID-19, and the postpandemic world, requires a brief understanding of viruses and the diseases. To begin with, viruses and diseases are related but have different names. For example, a virus that emerged during the 1980s and is now commonly referred to as human immunodeficiency virus (HIV) causes the ...
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