Getting shoved off the value chain

Covid and developing economies 

Andy Sumner of King’s College London and his co-authors estimate that a COVID-19-induced contraction in developing countries of 10% of 2020 GDP would push about 180 million people below the $1.90/day extreme poverty threshold. And while the World Bank has based its own estimates on smaller, country-specific GDP contractions averaging 5%, it still warns that 70-100 million people could fall into extreme poverty.

Egad!