The global economy is expected to grow at 5.7 percent in 2021. Under different vaccine access conditions and policy support，economic recovery in advanced economies is more robust than in low-and middle-income economies. Inflation risk is rising due to pandemic-induced supply shortage. Central banks in US and Europe began to consider tapering，and this will give emerging economies another test. Supply chain security attracted more concerns in pandemic. Both multinational companies and government in advanced economies are seeking measures on that. China’s overseas expansion of supply chain is constrained.