The global economy continues to deteriorate due to the impact of the coronavirus pandemic and unprecedented measures to combat it. Therefore, most likely, we can first survive the global economic crisis or simply a significant drop in economic growth in all states, and only after that prosperity is possible. Everything moves cyclically and in a spiral. The world economy also.
I wouldn't see it quite so negatively. Overall, the global pandemic cost significantly less economic output in 2020 than originally assumed and there are many signs - especially from China - that the recovery is coming faster than expected. Of course, the crisis may worsen further, but I think we passed the peak with the successful development of vaccine.
China's economic recovery is certainly a wonderful thing and a great sign, but let's not forget that the Chinese economy and national economies are different things, although they are interconnected due to the processes of globalization. China was much less affected by the pandemic, and in many countries, the service sector was severely affected due to knockdowns, which does not directly correlate with the success of the Chinese economy.
Agree with you, but if the Chinese economy recovers, it will also be good for many industrialized nations that export a lot to China. And if the industrialized nations are doing well, then mostly the emerging countries will quickly recover again. It all depends on how quickly the vaccinations happen and how quickly people can consume and travel more again.