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The world economy is entering the second half of 2020 still deeply weighed down by the coronavirus pandemic with a full recovery now ruled out for this year — and even a 2021 comeback dependent on a lot going right.

It’s a scenario few if any predicted at the start of the year, when most economists were banking on another year of expansion and a U.S. and China trade agreement was meant to give corporate and investor confidence a shot in the arm.

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