Ever since the Covid-19 pandemic erupted, concerns about “K-shaped” economies have proliferated. When it comes to describing business cycles, economists and investors have often used letters of the alphabet, yet it is the emergence of a bifurcated K-shaped economy that best describes the acute challenges confronting governments around the world.Initially a US-centric description of the post-pandemic recovery, the K highlights a sharp divergence in which different parts of the economy experience...