Key factors in countries’ success during the pandemic are long-term investment in public health systems, mission-driven leadership and fiscal space. Bailouts for poorer countries too often come with austerity requirements, lowering their resilience against health and climate crises and making recovery even harder.
China has bucked the world trend of declining wage growth, even while pursuing trade and automation, by augmenting its focus on new, productive sectors with policies designed to improve labour conditions.