Trade economists who advise the U.N. warned COVID-19 could cost the world economy up to $2 trillion in 2020 and push nations into recession.
GENEVA (AN) — Trade economists who advise the United Nations on policies for developing countries warned on Monday the COVID-19 outbreak could cost the world economy up to $2 trillion in 2020 and push some nations into recession.
The U.N. Conference on Trade and Development published a 10-page analysis suggesting the hit to global income will be $1 trillion at minimum even if the worst is avoided, but is likely to be worse.
Minimum wage workers in the E.U. had the most purchasing power in Germany and the least in Estonia.
The South African president invoked Nelson Mandela's emphasis on global 'interdependence' and cooperation.
Billionaires' wealth 'surged' by $2 trillion in a year, while 44% of the world population lives on less than $6.85 a day.
The global organization forecasts some improvement in the world economy but says Trump's plans cloud the outlook.
"Europe faces a clear and present danger," E.C. President Ursula von der Leyen said as the emergency meeting began.
The averate rate of gains for women-held seats accelerated between 2000 and 2015, but slowed in the last decade.
The five-point plan, unveiled as "ReArm Europe," is Europe's largest military and economic mobilization effort this century.
After an extraordinary U.S. repudiation, Ukraine won pledges from world leaders to urgently boost Europe's self-defense.
