The ‘V’ Shape of Global Economic Recovery Stands for Vaccine

Asia has a warning for those expecting a V-shaped global economic recovery: Exports from the giant hub of manufacturing continue to slump.

Take the bellwether South Korea, where an export plunge has sent the economy into a recession. Early trade data this week show shipments heading for another monthly drop in July as global demand remains weak. The value of overseas shipments fell 13% in the first 20 days of the month from a year earlier. Exports to China, Korea’s biggest overseas market, slid 0.8% while semiconductor shipments fell 1.7%.