Column (August 2020)

The second Covid-19 pandemic wave has a tight grip on Germany and Japan. In Japan, the number of daily new infections was twice as high in August as it was in April. In Germany, too, the number of daily new infections has recently increased visibly. However, the number of deaths has remained at a stable low level in Germany and has hardly increased in Japan. Apparently, the second wave has affected mainly younger people, and the seriously ill are being treated more successfully than just a few months ago. A second major lockdown is therefore not likely for either country. Moreover, the development of a vaccine seems to be well advanced. This means that recovery should remain intact and could even accelerate next year, as the industries hit particularly hard by the coronavirus will have considerable catch-up potential once a vaccine becomes available.