how the coronavirus will affect the gap between rich and poor countries ?





The coronavirus pandemic is one of the greatest challenges the world has faced in recent decades. Economically, it can have the same impact as World War II, despite the difference in the number of deaths. It is a challenge for peoples and states, but with different levels of impact, depending on the strength of each country's financial and political institutions. All countries are suffering enormous losses, and the collapse of the economy represents about 8% of the world's gross domestic production (GDP). However, some nations will come out of it with fewer losses and will manage to recover in a few years, while others will, unfortunately, have great difficulty in doing so and will suffer for a long time. The other side of the Coronavirus is that it will further widen the economic gap and freedom of movement between rich and poor nations, and between democratic and authoritarian ones.
Before this pandemic, the world was already characterized by a painful gap between rich and poor countries.
At the beginning of the third decade of the twenty-first century, we have seen how such socio-politically charged terms as "first world countries" and "third world countries" continue to prevail in the analysis of international economic reality. This terminology reflects the harsh reality of the profound inequalities that humanity, unfortunately, continues to experience.
And once again, the gap between rich and poor countries will widen today and in the future due to the impact of the Coronavirus. This is due to the abysmal difference in the resources available to each country to deal with the devastating effects of this virus.
The Coronavirus caused the interruption of production and the fall in consumption in a way that did not occur even during the great crisis of 2009. Tourism has stopped in the world since March 2020. Airlines have reduced their flights by more than 90%, and some have stopped all activity. While the hospitality sector, especially restaurants and cafes, closed their doors in most parts of the world.
In short, the Coronavirus has had a terrible impact on people.. However, the rich and advanced countries will emerge from the crisis and perhaps stronger because they have sufficient resources. Unfortunately, the economic situation of poor countries, already strangled by foreign debt, will suffer more.  This happened in the 2009 crisis, the rich countries recovered, but the poor countries from that date until the beginning of the pandemic sank because of the debts.
The great economic impact of this pandemic is the gap between the North and the South that will worsen. Unfortunately, we are going to witness once again one of the most visible aspects of this gap, which is the phenomenon of immigration, unjustly called illegal. The terrible images of the boats on the southern shores of the Mediterranean heading north or the queues of people from Latin American countries trying to cross into US territory will return.


Comments

Popular posts from this blog

Rebuilding the world

Why is the internet more expensive in Spain than in Britain?

How is the CoronaVirus affecting the economy?