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The US recovery is speeding up but the global economy isn't out of danger

April 5, 2021. Summarized by summa-bot.

Compression ratio: 25.3%. 2 min read.

People enjoy the historic center of Charleston, South Carolina on April 4, 2021 amid the Covid-19 pandemic. (Photo by Daniel SLIM / AFP) (Photo by DANIEL SLIM/AFP via Getty Images)

The economic recovery in the United States and China is gaining steam, triggering a wave of upgraded forecasts and optimistic commentary. Meanwhile, economists watching other parts of the world are getting worried.

London (CNN Business)The economic recovery in the United States and China is gaining steam, triggering a wave of upgraded forecasts and optimistic commentary.

Georgieva hailed "good news" for the global economy thanks to vaccinations and additional stimulus spending in the United States.

"An American economy about to regain its swagger after a year of pandemic-induced crisis was on full display in the March jobs report," Joseph Brusuelas, chief economist at RSM US, said in a note to clients.

Over the weekend, the United States reported that more than 4 million doses of the coronavirus vaccine were administered in 24 hours, a new record.

Last week, the World Health Organization called the rollout of vaccines in Europe, which is experiencing another surge of cases, "unacceptably slow. " India, which recorded a record number of daily Covid cases on Monday, has administered nearly 76 million doses — but less than 1% of the country's 1. 3 billion people have been fully vaccinated.

On Monday, the South Korean tech giant announced that it would close down its mobile phone unit after years of losses, marking the end of an era for a trailblazer in the Android world, my CNN Business colleague Michelle Toh reports.

LG was once one of the world's top smartphone makers, earnings a spot among the top three global players in 2013, according to research firm Strategy Analytics.

As of last year, LG was no longer even among the top seven players globally, according to Counterpoint Research, even though it is still the third most popular smartphone vendor in the United States, after Apple (AAPL) and Samsung (SSNLF), according to market research firm Canalys.

"LG leaves a 'small vacuum' of global market share of under 2%," Neil Shah, a partner and vice president of research at Counterpoint Research, told CNN Business.

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