The first wave of coronavirus wreaked havoc on the global economy.

Now, as the Delta variant spreads around the world, several measures of economic activity

are again pointing to deceleration, but as the virus itself has changed, so too has

the nature of the economic threats.

You're listening to Money Talks from the Economist, our weekly podcast on the market,

the economy and the world of business.

I'm Ratchet Nishanbog, finance editor at The Economist.

Also on today's show, what can America's history reveal about China's future?

If you read stories about America's good at age and you just replace the American names

with Chinese names, you'll find it if it's perfectly.

And press reset.

The new restrictions that could spell trouble for video game companies.

China's worried for quite a long time, well over a decade, really, about what it sees

as the sort of addictive and corrupting properties of video games.

First, the relationship between the pandemic and the world economy is evolving.

As the virus began to spread last year, economic growth fell off a cliff.

A year and a half later, America, Europe and China's economies are all growing slower

than investors had expected.

Consumer prices, meanwhile, are rising uncomfortably fast, especially in America.

Even in the Eurozone, where inflation is normally tepid,

price growth reached its highest in a decade.

Economists are suffering from shortages of parts and labour,

...