{"id":162547,"date":"2021-01-25T19:36:36","date_gmt":"2021-01-25T16:36:36","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/covid-19-could-spark-record-spike-in-inequality-oxfam-warns\/"},"modified":"2021-01-25T19:36:36","modified_gmt":"2021-01-25T16:36:36","slug":"covid-19-could-spark-record-spike-in-inequality-oxfam-warns","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/covid-19-could-spark-record-spike-in-inequality-oxfam-warns\/","title":{"rendered":"#COVID-19 could spark record spike in inequality, Oxfam warns"},"content":{"rendered":"

“#COVID-19 could spark record spike in inequality, Oxfam warns<\/strong>”
\n<\/p>\n

\n

The COVID-19 pandemic could cause the biggest increase in global inequality on record, Oxfam warned in a new report Monday.<\/p>\n

The health crisis has sparked a \u201csimultaneous and substantial rise\u201d in income and wealth inequality across dozens of countries, adding to the wealth of the world\u2019s richest people while the poor lost their jobs and drained their savings accounts, the British anti-poverty group said.<\/p>\n

Hundreds of millions more people could end up in poverty a decade from now if governments don\u2019t make an effort to close the growing gap, according to the report, which aims to inform world leaders\u2019 discussions at this week\u2019s World Economic Forum conference.<\/p>\n

\u201cWe stand to witness the greatest rise in inequality since records began,\u201d Oxfam International executive director Gabriela Bucher said in a statement<\/a>. \u201cThe deep divide between the rich and poor is proving as deadly as the virus.\u201d<\/p>\n

Oxfam\u2019s report<\/a> \u2014 titled \u201cThe Inequality Virus\u201d \u2014 follows similar warnings about pandemic-fueled inequities from officials at the International Monetary Fund and the World Bank.<\/p>\n

Oxfam\u2019s report draws on a survey of economists around the world who broadly expect economic, racial and gender inequality to jump as a result of the COVID-19 crisis.<\/p>\n

Some 87 percent of the 295 economists surveyed \u2014 including those from 77 of the 79 countries represented \u2014 said income inequality would \u201cincrease or strongly increase,\u201d while 78 percent said the same about wealth inequality.<\/p>\n

That may not be surprising given that the world\u2019s 10 richest people reportedly saw their fortunes balloon by $540 billion in roughly nine months last year even though millions of workers lost their jobs amid lockdowns aimed at controlling COVID-19.<\/p>\n

Moreover, some 56 percent of economists expect an increase in gender inequality as a result of the pandemic while roughly two thirds think racial inequality will grow, Oxfam\u2019s survey found.<\/p>\n

Oxfam contends that rising inequality could do long-term damage. <\/p>\n

The group cited a World Bank analysis that showed if economic inequality as measured by the Gini coefficient \u2014\u00a0a gauge of income distribution\u00a0\u2014 increases by 2 percentage points a year, 501 million more people would be living on less than $5.50 a day in 2030 than if inequality levels remained flat.<\/p>\n

That would leave some 3.4 billion people living on that meager income about a decade from now, up from roughly 3.1 billion in 2019, before the pandemic hit, according to Oxfam\u2019s report.<\/p>\n

\u201cWithout decisive action, a major and widespread increase in economic inequality will leave a corrosive legacy, especially for the poorest and most marginalized people,\u201d the report reads.\n <\/p><\/div>\n

If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n

\n

For forums sites go to Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

\n

If you want to read more News<\/a> articles, you can visit our News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#COVID-19 could spark record spike in inequality, Oxfam warns” The COVID-19 pandemic could cause the biggest increase in global inequality on record, Oxfam warned in a new report Monday. The health crisis has sparked a \u201csimultaneous and substantial rise\u201d in income and wealth inequality across dozens of countries, adding to the wealth of the world\u2019s…<\/p>\n","protected":false},"author":1,"featured_media":162548,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/01\/AFP_8Q82WJ.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[90716,1545,5069,88397,86790,90789],"class_list":["post-162547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-1-25-21","tag-coronavirus","tag-economy","tag-global-economy","tag-income-inequality","tag-oxfam"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/162547","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=162547"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/162547\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/162548"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=162547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=162547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=162547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}