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  • - [Narrator] Every month,

  • the global economy is losing $500 billion due

  • to the ripple effects of COVID-19.

  • By the end of 2021,

  • projection show a cumulative loss

  • of $12 trillion or more.

  • It hasn't been this bad since the end of World War II,

  • a conflict that in part grew out

  • of another infamous global economic crisis,

  • The Great Depression.

  • Almost a century later,

  • the COVID-19 pandemic has created a cascading crisis

  • with impacts far beyond the realm of public health.

  • There's a term for this.

  • Mutually exacerbating catastrophes,

  • and it's happening right now on a global scale.

  • So how can the vicious cycle be stopped?

  • Mutually exacerbating catastrophes.

  • It's the idea that disasters end up creating

  • and then cementing crisis after crisis.

  • A pandemic feeds into a recession,

  • feeds into income inequality,

  • feeds into civil unrest,

  • and on and on.

  • A ripple in one sector in one country is felt globally

  • but it is not felt proportionally.

  • Just as COVID-19 has been more lethal

  • to patients with preexisting conditions,

  • The disease has been disproportionately devastating

  • to lower income economies and people.

  • And despite their best efforts to respond,

  • limited resources means a more limited effect.

  • For example,

  • 2020 wiped out the sustained economic gains

  • of several low income African nations,

  • widening the vast wealth gap between high income countries

  • and low and middle income countries.

  • And that in turn impacts the response.

  • - [Vishal] G20 countries spent over 20% of GDP

  • in their emergency measures,

  • whereas developing countries spent about 3%.

  • You're already cutting back

  • on what your government's able to do,

  • even at the time you're being asked to do more

  • and that you're needed even more

  • to sort of mount a response for your people.

  • - [Narrator] The economic and societal ripples from COVID

  • won't fully get addressed without a multilateral response

  • to a singular disease.

  • The pandemic is every country's fight.

  • So global cooperation is paramount.

  • Fighting the virus requires treatment and solid diagnostics

  • in the short term and vaccination in the medium.

  • - [Vishal] We could be living in a world

  • where we're able to get the virus under better control

  • through medical countermeasures.

  • Governments are able to protect their people

  • and that the temporary problems stay temporary

  • rather than become forever problems.

  • - [Narrator] Think of it as the inverse

  • of mutually exacerbating catastrophes.

  • Empowering public health networks

  • empowers communities, particularly women,

  • which can lead to better outcomes

  • for environmental justice,

  • disenfranchised minorities,

  • and so much more.

  • Yes, COVID-19 can create ripples outside of public health,

  • but the right response to it can have societal ripples

  • that go far beyond the virus.

  • The fight against poverty and disease is measured every year

  • by the Bill and Melinda Gates Foundation

  • in the Goalkeepers report.

  • But progress has almost entirely regressed.

  • So the foundation's 2020 Goalkeepers report

  • analyzes the damage the pandemic has done and is doing,

  • and advocates for a collaborative response.

  • - [Vishal] I would like to think that we can come back

  • in a way that recognizes the interconnectedness

  • and gives us a blueprint on how we tackle

  • some other global problems in a way

  • that we might not have been able to do before.

- [Narrator] Every month,

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B2 covid income ripple response global crisis

The $12 trillion ripple effect of Covid-19 [Advertiser content from the Gates Foundation]

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    林宜悉 posted on 2020/10/08
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