The pandemic has severely impacted the world economy. The World Bank has identified the emergence of ‘new poor’, and warned that extreme poverty is rising for the first time in over 20 years as the pandemic adds to the existing pressures from conflicts and climate change.
The divergence in economic recovery is now becoming visible with rich nations benefiting from access to vaccines, digitalised economies and recovery schemes while the developing nations struggle to provide basic jobs. Those working in the informal sector as well as those in service sectors such as tourism, hospitality, education, and creative industries are particularly impacted. This dialogue will explore how BRICS can design and propagate a new, inclusive model of global economic recovery, one that respects and accounts for the characteristics of developing nations.
