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America’s pandemic response is storing up a nasty shock for the US dollar

US policymakers have long believed that American exceptionalism applies to the laws of economics, but that may be about to change

America’s pandemic response is storing up a nasty shock for the US dollar
Photo: Getty Images

Pandemic time runs at warp speed. That’s true of the Covid-19 infection rate, as well as the unprecedented scientific efforts under way to find a vaccine. It is also true of transformational developments currently playing out in pandemic-affected economies.

Just as a lockdown-induced recession brought global economic activity to a virtual standstill in a mere two months, hopes for a V-shaped recovery are premised on an equally quick reopening of shuttered economies.

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