C O R P O R AT I O N
HOWARD J. SHATZ
The Consequences of COVID-19 on the
Global Economic Balance
For more information on this publication, visit www.rand.org/t/RRA1464-1.
The RAND Corporation is a research organization that develops solutions to public policy
challenges to help make communities throughout the world safer and more secure, healthier
and more prosperous. RAND is nonprofit, nonpartisan, and committed to the public interest. To
learn more about RAND, visit www.rand.org.
Our mission to help improve policy and decisionmaking through research and analysis is
enabled through our core values of quality and objectivity and our unwavering commitment
to the highest level of integrity and ethical behavior. To help ensure our research and analysis
are rigorous, objective, and nonpartisan, we subject our research publications to a robust and
exacting quality-assurance process; avoid both the appearance and reality of financial and
other conflicts of interest through staff training, project screening, and a policy of mandatory
disclosure; and pursue transparency in our research engagements through our commitment to
the open publication of our research findings and recommendations, disclosure of the source
of funding of published research, and policies to ensure intellectual independence. For more
information, visit www.rand.org/about/principles.
RAND’s publications do not necessarily reflect the opinions of its research clients and sponsors.
Published by the RAND Corporation, Santa Monica, Calif.
© 2022 RAND Corporation
is a registered trademark.
Library of Congress Cataloging-in-Publication Data is available for this publication.
Cover: Blue Planet Studio/Adobe Stock.
Limited Print and Electronic Distribution Rights
This publication and trademark(s) contained herein are protected by law. This representation of
RAND intellectual property is provided for noncommercial use only. Unauthorized posting of
this publication online is prohibited; linking directly to its webpage on rand.org is encouraged.
Permission is required from RAND to reproduce, or reuse in another form, any of its research
products for commercial purposes. For information on reprint and reuse permissions, please
About This Report
The coronavirus disease 2019 pandemic has upended the global economy,
resulting in large losses of gross domestic product worldwide. This report
reviews the economic track record of the United States and its main competitors and allies to discern how the dramatic economic changes induced
by the disease could affect geopolitical competition and the ...