Global GDP for 2020 is expected to have reached 138 trillion
international dollars representing a fall of 11 trillion, if one factors in its expected annual growth according to trend, representing a fall of about 6% in relation to its full potential.
Up to relatively recent times the impact of the pandemic on the productive capacity of the global economy has been muted and so much so that the global GDP for 2021 was estimated at 149 trillion, a figure that, of course, will have to be revised down.
Some people here seem to have forgotten that for every debtor there must be at least one creditor and consequently that all those trillions in budget deficits that one hears about represent newly created financial assets that may end in the hands of banks, insurance companies, super funds and the like.
Finally one must realize that Australia cannot open itself to the world in terms of international movement of people until the word has its house in order and that since our problem is the existence of leaks in our quarantine system that is where exceptions to our current vaccination policy should be applied.
https://www.statista.com/statistics/268750/global-gross-domestic-product-gdp/
