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Up to now, more than 2 million people around the world have been infected with the new coronavirus, and the world is in danger of fighting the epidemic. The virus outbreak brought global development to a standstill, and companies began to lay off workers on a massive scale. Tens of millions of people have lost their jobs, leading to a gap between rich and poor. The latest research suggests that the pandemic will push about 1 billion people into poverty. The most seriously injured were women.
The International Monetary Fund (IMF) calculates the average global household income, consumption levels, and the resulting global impact based on pre- and post-pandemic data. The most pessimistic scenario is that global per capita income shrinks by 20 percent, the number of people living in extreme poverty will increase to 434 million, and nearly 1.2 billion people worldwide will face extreme poverty, the study found. At the same time, the number of people living in poverty below the $5.50 a day threshold will increase by 548 million globally, bringing the total to more than 4 billion, half of the world's population!
And in terms of gender, women are at greater risk than men. Because unlike China, many women in other countries do not work in formal companies, or even do not work, and their lives are not guaranteed. People are poor, have no time to rest, and work hard every day to earn a living. What is even more sad is that because of such hard work, the problem of food and clothing cannot be solved.
According to the World Bank, more than 2 billion informal sector workers worldwide do not have access to paid leave. The findings also found that the current economic crisis was worse than the 2008 global financial crisis. The data show that poverty levels during this period may be the worst since 1990 and that it is likely that some countries, particularly developing countries, will return to their economic levels 30 years ago. In many areas, panicked people flock to the market to buy food and some necessities as the best sign.
If the situation continues to deteriorate, poverty in East Asia and the Pacific will only increase by 11 million. Especially in India, the world's second most populous country, panic is growing as the number of infections continues to rise. For a family that is not wealthy, the end is difficult to avoid. Therefore, the World Bank officials said that governments around the world must mobilize at least $2.5 trillion to support developing countries in overcoming these difficulties, otherwise we will have a hard time surviving this crisis.
During the fight against the epidemic, all walks of life have been severely affected, the world is in turmoil, and people feel insecure in their hearts. Researchers say the economic damage caused by the virus cannot be quantified. After the outbreak, 1 billion people are expected to be pushed into poverty. Editor-in-chief/Zhu Zhang Hangyu
Source: World Bank, Times of India