Abstract The COVID‐19 pandemic broke out at a time when there were heightened uncertainties in the global economy. Understanding these uncertainties provides an important background for analyzing the impact of the pandemic on the global economy, assessing the effectiveness of those policy measures in combating the pandemic and reviving the global economy, and predicting the trajectory of the economic recovery in post‐pandemic era. We analyze how COVID‐19 would likely deepen some existing malaise in the global economy, and what could be done to redress these problems while managing economic recovery from the crisis and beyond. We argue that three fundamental factors which could lead to a solid recovery in the post pandemic era are structural reform, new technology and re‐integration which could be managed through instituting a new “global social contract.” Supported by strong public policies at all levels especially at national levels, the tripartite could serve as salvation of the global economy recovering or re‐emerging from this pandemic crisis.

中文翻译：

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COVID-19大流行及其对全球经济的影响：如何将危机转化为机遇？

摘要COVID-19大流行是在全球经济不确定性加剧的时候爆发的。了解这些不确定性为分析大流行对全球经济的影响，评估这些政策措施在抗击大流行和复苏全球经济方面的有效性以及预测大流行后时代的经济复苏轨迹提供了重要背景。我们分析了COVID-19可能如何加深全球经济中现有的不适，以及在管理从危机中及以后的经济复苏的同时，如何解决这些问题。我们认为，在大流行后时代可能导致稳健复苏的三个基本因素是结构改革，可以通过建立新的“全球社会契约”来管理新技术和重新整合。在各级特别是国家一级的强有力的公共政策的支持下，三方可作为全球经济从这场大流行性危机中恢复或重新崛起的救星。