Industry chiefs optimistic about economy in 2021

Industry chiefs optimistic about economy in 2021

Vaccines and fresh economic stimulus promised by US President-elect Joe Biden will give the global economy a chance to put the coronavirus pandemic behind it in 2021, policymakers and industry leaders told the Reuters Next conference.

Their optimism came despite a resurgence in COVID-19 cases that has prompted the World Bank to downgrade its growth forecast for this year and warn that delays in vaccination programs could pinch recovery even further.

The head of German engineering giant Siemens AG said China is currently driving the world economy but was optimistic about recovery in the US, where Biden has promised a faster

rollout of vaccines and more economic stimulus.

"In the US, they are holding all the cards and if they put the money to work in a wise way, there is going to be a very, very, strong second half of 2021