2021, we all hope, will be the year of recovery. If COVID-19 vaccines are rolled out at scale, including in the developing world, global economic recovery will be large. But that in itself ensures neither that all countries will be included in the recovery, nor that all people within each country will see the gains. A rising tide, as we have seen only too well since US president John F. Kennedy first used the phrase in 1963, does not lift all boats.