Inequality virus.

Byline: Zofeen T. EbrahimP

PINE as we may, we cannot return to pre-coronavirus times. And we should not. It was an unequal, skewed world. The Covid-19 pandemic, which has taken over two million lives worldwide so far, will be remembered for how inequality rose in almost every country on earth at the same time and also showed that no state, no institution and no individual can take on such cataclysmic fights alone.

It also exposed and exacerbated the flaws of a world where millions lived in poverty and destitution even before countries were hit by the virus; although from 2015 to 2017, the number of people living below the international poverty line (of $1.90 per day) globally fell from 741 million to 689m. The expected total number of new people living in extreme poverty is to rise to 150m, according to the World Bank's biennial Poverty and Shared Prosperity Report 2020.

The International Monetary Fund, the World Bank and the Organisation for EcoAnomic Cooperation and Development all have expressed deep concern at the rise in inequality and social and economic upheavals that will be witnessed for decades.

A 2020 survey by Oxfam of 295 economists from 79 countries corroborated this. Eighty-seven per cent of the experts believed income inequality in their country was going to increase significantly as a result of the pandemic. In addition, 57pc thought gender inequality would likely or very likely increase and more than two-thirds thought the same for racial inequality. Two-thirds also felt their government did not have a plan in place to fight inequality.

An Oxfam report calls for radical changes to the economic system.

This year Oxfam's inequality report aptly titled, The Inequality Virus: Bringing Together a World Torn Apart by Coronavirus through a Fair, Just and Sustainable Economy suggests the need for urgent and radical change in the existing economic system, which has 'exploited and exacerbated patriarchy, white supremacy and neoliberal principles' driving extreme inequality, poverty and injustice.

Like in previous years, it is timed to coincide with the annual World Economic Forum in Davos, Switzerland. Except this time the world leaders from business, government, civil society and academia will convene virtually from Jan 25 to Jan 29 to have a discourse on what ails this planet and come up with solutions.

The Oxfam report set the scene by pointing to the extreme inequalities that exist in our world. It said the 1,000 (majority white...

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