Even as many global stock and commodity markets have rebounded above pre-pandemic levels in recent months, economic recovery is far from globally synchronous. Costs of the pandemic and worst economic downturn since the 1930s are continuing to compound.
The emergence of a global middle class has been one of the most significant trends in the past few decades. But, that phenomenon has been upended by the Coronavirus pandemic. The demographic shrank last year for the first time since the 1990s with about 150 million people falling out of the global middle class, down the socioeconomic ladder. Here is a direct video link.
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