QuERI International | Tarnished Globalization Dreams Extend Beyond COVID for the World’s Majority

(13 January 2020) Based on the original paper by Dr. David L. Blond, Principle Researcher and President, QuERI-International. The views expressed are those of the author(s) and do not necessarily represent the views of Knoema Holdings and its Executive Board.

The global economic trajectory once COVID-19 vaccines are widely available and the pandemic ends appears much less promising for hundreds of millions of people than was true of the post-World War II recovery even despite the hyperconnectivity of global markets and populations today.

• Last year the World Bank warned that thanks to the COVID-19 pandemic for the first time in 20 years global poverty is on the rise. Between 2020 and 2021 an estimated additional 150 million people will be pushed into extreme poverty with daily income below $1.90 per day.
• The latest estimates based on modeling from QuERI back up the World Bank findings and show that in the post-COVID globalized order, persistent and growing poverty will set the stage for increasingly difficult social. economic, and political crises that will accompany climate change, food insecurity, and mass migration.

The world has a short window to solve the problems that uncontrolled development in the decades of globalization has caused. Closing the gap for many of these poor countries is critical not just to their futures but to all.