Japan in the World

The Global Economic Environment Transformed by the COVID-19 Pandemic Real gross domestic product (GDP) levels for major global regions 2019=100 140 •Developed regions Emerging/developing regions 135 European Union (EU) China 130 Japan US 125 IMF World Economic NOMURA The COVID-19 outbreak which originated in China at the end of 2019 has changed the face of the global economy In particular, it is thought that economic recovery to pre-COVID-19 levels will be difficult for many developed regions to accomplish in 2021 120 115 110 105 100 95 Outlook (Oct. 2020) forecasts 90 2018 2019 2020 2021 2022 2023 2024 2025CY Source: International Monetary Fund (IMF) 1

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