A “world with COVID-19” remains a more realistic scenario than a “world after COVID-19”. Election outcome in Germany likely to have only minor economic consequences. Switzerland: price stability remains safeguarded despite tripling of inflation.

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Economics_Chart_0921_EN

While China remains committed to a zero-tolerance policy during the pandemic, the political will to reintroduce far-reaching restrictions in the USA and Europe is low. Instead, it is hoped that the fourth wave can be brought under control through increased vaccination incentives. France already significantly expanded the use of the COVID certificate in July and made tests chargeable. From a political point of view, this step is highly controversial. However, vaccination figures in comparison to Germany show that at least the hoped-for effect has been achieved so far. Similar steps are now expected in more and more countries. Developed countries are also now starting to administer third vaccinations.

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