So if you look at the IMF World Economic Outlook, this is a report that they put out twice a year in April and October, the 2014 World Economic Outlook, the IMF said that they did not expect the global economy to ever see the rates of growth that we had seen prior to 2008. I won't delve into details because people will be familiar with a lot of them, but just in terms of at a very high level, structural economic growth was on a path of decline including rates of return. And I think that the context here in terms of the delineation is that even before COVID hit in 2020 in earnest, the global economy was already addressing or dealing with many structural challenges which I had highlighted in my book Edge of Chaos that you mentioned from 2018. But fundamentally for a whole host of reasons which I’ll outline in a moment, we're not seeing quite yet a recovery. It's worth saying, and I should at the onset say that my fundamental view is that we will and we are already seeing a rebound. As an economist and as a businessperson our purview has tended to be really quite focused on the aggregate demand shock that we experienced, the shutdown and really trying to now figure out how does this look in terms of a rebound. What you've outlined, Kevin, has largely focused on the health aspect of the COVID problem. We, as everyone knows, have been dealing with a multifaceted, multi-period problem. At a very high level I would put it this way. I look forward to comments and questions and I think it's wonderful to be able to connect at a time where there's so many questions, still so many questions and perhaps a lot of risk around the answers. So how are you assessing the economic outlook here in early March?ĭambisa Moyo (DM): Well, first of all thank you, Kevin, for hosting me. States are reopening though federal officials suggest that that may be prematurely, but more stimulus is obviously on the way. But President Biden says that all adult Americans will be able to get vaccinated by the end of May. Vaccines are being rolled out but obviously not without hiccups and without hesitancy. I mean, COVID cases and deaths have dropped dramatically from the post-holiday peaks but we're starting to see plateau at levels that are higher than last summer's second peak, so still over 60,000 cases per day and about 2,000 deaths per day. I want to start if we can with the big economic picture but with a particular focus on the U.S. You've got a lot of hats to wear, we're going to try to get you to wear as many of them as possible here this morning.Ī lot of ground to cover.

If you'd like to join our conversation, please submit your questions via the moderator chat button on your screen and we'll try to get to them. I am delighted to have her here on Teneo Insights for the first time. Today she sits on the boards of Chevron and 3M, and in May she's got another book coming out called How Boards Work and How They Can Work Better in a Chaotic World, which will resonate with a lot of you on this call today. She was a World Economic Forum Young Global Leader and a member of the Time 100. She is the author of four books which were New York Times bestsellers, the latest of which was Edge of Chaos in 2018. She started her career as an economist with the World Bank and subsequently with Goldman Sachs. Noted author and economist, Dambisa Moyo is with me today. Thank you for joining today's edition of Teneo Insights, I'm Kevin Kajiwara, Co-President of Teneo Political Risk Advisory here in New York City. Kevin Kajiwara (KK): Well, good day everyone.

Dambisa Moyo, New York Times best-selling author and member of the Boards of Chevron and 3M, joins Kevin Kajiwara to discuss the economic effects of COVID-19 on U.S.

Goldilocks economy thanks to obama