[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-113506-en":3,"doc-seo-113506-105":28,"detail-sidebar-cat-0-en-105":89},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":4,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":11,"language":21,"language_code":22,"site_id":23,"html_lang":22,"table_of_contents":24,"faqs":25,"seo_title":13,"seo_description":14,"update_tm":26,"read_time":27},113506,687197207919,"Theodora","https://ap-avatar.wpscdn.com/avatar/a000253d6f5f7c60be?x-image-process=image/resize,m_fixed,w_180,h_180&k=1779446848396160552",8,"Research & Report","World Bank East Asia and Pacific Economic Update - Long COVID - Executive Summary","The East Asia and Pacific region faces a reversal of fortune as the COVID-19 Delta variant undermines an uneven recovery. Despite earlier success in 2020 and slower effects of infections on domestic activity, persistent restrictions, slower vaccination, and tightening fiscal space are damaging employment, poverty outcomes, and inequality. Near-term risks include recurrent outbreaks and insufficient readiness for long COVID, while inflation risks are more pronounced abroad through potential interest-rate spillovers. Policies are urged to enable adaptation today and prevent future deceleration and disparity.","Public Disc losure Authorized  \nWORLD BANK EAST ASIA AND PACIFIC ECONOMIC UPDATE OCTOBER 2021  \nLONG COVID  \nPub lic Disclosure Authorized Pub lic Disc losure Authorized Pub lic Disclosure Authorized  \nWORLD BANK EAST ASIA AND PACIFIC ECONOMIC UPDATE, OCTOBER 2021  \nLong COVID  \nEAST ASIA AND PACIFIC ECONOMIC UPDATE, OCTOBER 2021  \nExecutive Summary  \nThe East Asia and Pacific (EAP) region is suffering a reversal of fortune. In 2020, many EAP countries successfully contained COVID-19 and economic activity swiftly revived as other regions struggled with the pandemic and economic recession. Now the region is being hit hard by the COVID-19 Delta variant while many advanced economies are on the path to economic recovery.  \nThe disease is damaging the economy and is unlikely to disappear in the foreseeable future. In the near term, the persistence of the pandemic will prolong human and economic distress unless individuals and firms can adapt. In the longer term, COVID-19 will reduce growth and increase inequality unless the scars are remedied and the opportunities grasped. Policy action must help economic agents to adjust today and make choices that avert deceleration and disparity tomorrow.  \nWhat Is Happening Now?  \nThe uneven recovery in the EAP region is now facing a setback. China is projected to grow at 8.5 percent in 2021, though growth momentum has eased. Overall regional growth is projected at 7.5 percent, reflecting the scale of China’s economy. The rest of the region is anticipated to grow by 2.5 percent, compared to 4.4 percent forecast in our April update, with significant heterogeneity across countries. While China, Indonesia, and Vietnam have already surpassed pre-pandemic levels of output, Cambodia, Malaysia, and Mongolia will only do so in 2022, and the Philippines, Thailand, and many Pacific Islands will remain below pre-pandemic levels of output even in 2023.  \nAs a result, employment has declined, poverty will persist and inequality is increasing across several dimensions.  \nRegional employment rate dropped by about 2 percentage points on average between 2019 and 2020. As many as 24 million people will not be able to escape poverty in 2021 in developing EAP, excluding China, because of COVID-19 . While all households have suffered, poorer ones were more likely to lose income, sell off productive assets, suffer food insecurity, and lose schooling for children.  \nWhy?  \nRestrictions to contain COVID-19 are constraining economic activity. Testing-tracing-isolation, a successful strategy in 2020, has been less effective against the more infectious Delta variant. Vaccinations, which would have helped reduce mortality and transmission, have been slow. Therefore, governments have been forced to impose restrictions to stop the spread of the virus. In general, economic disruption has been less in countries with higher vaccination. A 10 percentage point higher vaccination coverage was associated with a one-half of a percentage point higher quarterly gross domestic product (GDP) growth.  \nConstraints on vaccination differ for countries in the region. Availability held back vaccination rates in larger countries like Indonesia, the Philippines, and Vietnam. Smaller, poorer countries, such as some of the Pacific islands, benefited from vaccine donations, but some are constrained by limited distribution infrastructure. In several countries, as vaccination levels increase, hesitancy is likely to be a constraint.  \nTwo factors have softened the consequences of the present outbreak. First, domestic economic activity has so far been less sensitive to infections. One additional case per one thousand reduced industrial production by an average of  \nx EXECUTIVE SUMMARY  \nLONG COVID  \n5 percent in May 2020 but had a negligible effect in June 2021. Second, the buoyant external environment has helped to sustain regional exports. In August 2021, China’s merchandise exports increased by 31 percent in value terms over 2019-Q4 and those of ","cbCaijWQYsY5RQfx","https://ap.wps.com/l/cbCaijWQYsY5RQfx","pdf",297436,1,"English","en",105,"# Executive Summary\n## What Is Happening Now?\n## Why?\n## The Near-Term Economic Risks","[{\"question\":\"What has driven the setback in the East Asia and Pacific region during 2021?\",\"answer\":\"The Delta variant has hit the region hard, while the pace of recovery remains uneven across countries and restrictions to contain COVID-19 constrain activity.\"},{\"question\":\"Why is long COVID expected to have lasting economic effects?\",\"answer\":\"COVID-19 is unlikely to disappear soon, and in the longer term it reduces growth and increases inequality unless impacts are addressed through policy and adaptation.\"},{\"question\":\"What near-term economic risks does the document highlight?\",\"answer\":\"Recurrent waves driven by vaccination gaps and limited testing, insufficient health-system readiness for long COVID, and macro-financial risks including debt accumulation and potential interest-rate spillovers from industrial 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has driven the setback in the East Asia and Pacific region during 2021?","Question",{"text":73,"@type":74},"The Delta variant has hit the region hard, while the pace of recovery remains uneven across countries and restrictions to contain COVID-19 constrain activity.","Answer",{"name":76,"@type":71,"acceptedAnswer":77},"Why is long COVID expected to have lasting economic effects?",{"text":78,"@type":74},"COVID-19 is unlikely to disappear soon, and in the longer term it reduces growth and increases inequality unless impacts are addressed through policy and adaptation.",{"name":80,"@type":71,"acceptedAnswer":81},"What near-term economic risks does the document highlight?",{"text":82,"@type":74},"Recurrent waves driven by vaccination gaps and limited testing, insufficient health-system readiness for long COVID, and macro-financial risks including debt accumulation and potential interest-rate spillovers from industrial 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