4 ms·
Given that the population growth is around 80,000,000 yearly, or 1 percent, we are looking at a world GDP per capita decline of 4 percent. Since large parts of
by flexie 6y ago
Given that the population growth is around 80,000,000 yearly, or 1 percent, we are looking at a world GDP per capita decline of 4 percent.
Since large parts of the world's population barely had enough for food as it were, and that even in the first world, a lot of the production goes to create wealth for the few rich, and most people don't save much or anything to begin with, it's going to be felt.
And do we really believe it stops there? Will people actually want to travel and dine out as much as they used to once the lockdowns are over? Or will they be careful for months or maybe years to come? What happens when the virus really spreads in Africa, India, South East Asia and South America? Will they barely care because they are so young it's not dangerous to them? And what about the second and third wave in the first world? What if the vaccine or cure is not that easy to make and distribute so we don't have any before mid or late 2021?