GLOBALIZATION AND POVERTY DURING CORONAVIRUS EPIDEMIC
Charity group Oxfam have warned that a recession caused by Coronavirus could push an extra half billion people into poverty unless urgent action is taken, conducted by King's College London and the Australian National University, the research gauged the short-term impact of containing the Coronavirus on global monetary poverty based on the World Bank poverty lines from 1.90 $ to 5.50 $ a day, global poverty levels would increase under all three scenarios for the first time since 1990 according to the analysis with up to a decade of progress lost globally, the impact is set to be even worse in some hard hit parts of the world such as North Africa, Sub-Saharan Africa and the Middle East where up to 30 years of progress could be wiped out. The most serious scenario involves a 20% fall in income which would result in an additional 548 million people earning less than the World Bank poverty threshold of 5.50$ per day, the Unit...