Media contributions
1Media contributions
Title Nightmare and bonanza Media name/outlet China Daily Media type Web Country/Territory China Date 20/06/22 Description The pandemic has been disastrous for the poor, but it has been highly lucrative for the mega-wealthy
The world's rich are getting richer, and the poor are getting poorer. Almost all the evidence since the pandemic's onset points in this direction.
At one extreme, Oxfam estimates that Elon Musk's wealth has increased by 699 percent since 2019. Also, 573 new billionaires have emerged－globally we have 2,668 billionaires now. At the other extreme, the World Bank estimates 75 to 95 million more people have fallen below the $1.9-a-day poverty line. This is a desperately low line. These families are going hungry and cannot pay for drinking water, health expenses or schooling.
Between these extremes, many of the world's middle class－be they from Atlanta to Kolkata to Manchester to Mombasa－are feeling squeezed by a cost-of-living crisis. Food and fuel bills are rising much faster than wages. Governments are responding: the UK promises "leveling up "and China is pursuing "common prosperity".URL www.chinadaily.com.cn/a/202206/20/WS62afc546a310fd2b29e6395c.html Persons David Hulme
Research Beacons, Institutes and Platforms
- Global inequalities
- Global Development Institute