Coronavirus: Millions will be left in poverty, World Bank wa

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Pepe
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08 Apr 2020, 11:57 pm

For the socialists who are rubbing their hands in glee at the prospect of a resetting of the global economic system, read on.
It is the poor that will be hit the hardest.

Quote:
Coronavirus: Millions will be left in poverty, World Bank warns.

The financial impact of coronavirus will stop almost 24 million people from escaping poverty in East Asia and the Pacific, according to the World Bank.

It says “significant economic pain seems unavoidable in all countries”.

The World Bank warned of “substantially higher risk” among households that depend on industries particularly vulnerable to the impact of the virus.

These include tourism in Thailand and the Pacific Islands, along with manufacturing in Vietnam and Cambodia.

The bank urged the region to invest in expanding healthcare and medical equipment factories, and to offer subsidies for sick pay that would help with containment and aid households.

Coronavirus: A visual guide to the economic impact
Global economy will suffer for 'years to come'

In its baseline scenario, almost 24 million fewer people will escape poverty across the region in 2020 due to the economic impact of the pandemic.

Under its worst-case scenario, the bank predicts that almost 35 million people would be expected to remain in poverty, including 25 million in China. It defines the poverty line as living on $5.50 a day or less. https://www.bbc.com/news/business-52103666


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EzraS
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09 Apr 2020, 12:11 am

Yep they roll their eyes at anyone mentioning the economy.

Yet the people they say they care about - the poor, the working class, the minorities, the immigrants - are the ones who are getting clobbered the hardest.



Darmok
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09 Apr 2020, 12:19 am

Time to roll out the plan for reopening the world economy in stages starting next week.

(I think part of the hysteria over Trump and hydroxychloroquine was driven by a sense of, "How dare you come up with a cure! We want this plague to destroy the world economy!")


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Pepe
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09 Apr 2020, 12:40 am

EzraS wrote:
Yep they roll their eyes at anyone mentioning the economy.

Yet the people they say they care about - the poor, the working class, the minorities, the immigrants - are the ones who are getting clobbered the hardest.


I doubt there are many regressive, feral, progressives with such extreme views.
But the ones that have poked their scruffy heads up, recently, tarnish the reputation of all moderate progressives through association. <no emoji>


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Laughter is the best medicine. Age-appropriate behaviour is an arbitrary NT social construct.
Don't tell me white lies. Gaslight me at your peril. Don't give me your bad attitude. Hypnosis, psychosis. Tomarto, tomayto. There are *4* lights. Honey badger.
If I'm so bad, pass me by. ;)


And one more thing,


"A stranger is a friend gang-stalker you haven't met yet." Humour is not meant to be taken seriously, yet many on the left pervert its intent.
Truth may be inconvenient but it is never politically incorrect...The Oracle of Truth has spoken...8)


I luv Joe Biden! Democracy first!


EzraS
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09 Apr 2020, 1:18 am

Darmok wrote:
Time to roll out the plan for reopening the world economy in stages starting next week.

(I think part of the hysteria over Trump and hydroxychloroquine was driven by a sense of, "How dare you come up with a cure! We want this plague to destroy the world economy!")


Drat that Trump he's always foiling our plans.