COVID-19 Has Induced “Tragic Economical Reversals” For Developing Countries

Oct. 14th, 2021

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All the countries of the world have suffered “tragic reversals” economically and otherwise due to the COVID-19 pandemic.

Many lives and livelihoods have been devastated; progress in reducing extreme poverty has been set back by the COVID-19 pandemic following inaction and cover-up by the Chinese Communist Party (CCP) who saw the CCP virus, which started and caused the pandemic, spread from Wuhan then to all around the world, according to an Epoch Times article on October 11th, 2021.

With an expected global growth of 5.7 percent in 2021 and 4.4 percent in 2022, the World Bank worries over a dramatically “uneven recovery” around the world, as the gap between developed and developing economies continues to escalate.

To address the above mentioned disparities, the World Bank president David Malpass called on the advanced and developing economies to redirect their policies, so that growth and investment are “more widespread, and less concentrated at the top.”

Kristalina Georgieva, managing director for the IMF, has come up with some specific proposals: the IMF will work closely with the World Bank, WHO, and WTO to recklessly vaccinate at least 40 percent of people in every country by the end of 2021, and 70 percent by the first half of 2022; with efforts towards a “greener, smarter, and fairer” future; institute a “robust price on carbon,” a global minimum corporate tax; a substantial increase of “green investment” over the next 20 years, and “fairer and more efficient tax systems.”

Georgieva is currently under review over claims that she pressured World Bank staff to alter data to benefit Communist China.

To read more about the story, please click here: World Bank Warns of ‘Tragic Reversals’ in Developing Countries Due to COVID-19

Editor: Labelle / PR: Mr. Cow

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Edited by:【Himalaya London Club UK】

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