The #globaleconomy is not an abstract concept. This infographic (Voronoi diagram) shows the 2019 #GDP of world economies, pre-Covid-19. In Q2 2020 the OECD - OCDE indicates a negative record of -6.9% G20 GDP drop.
A much worse trend than the #financialcrisis, when the G20 GDP had marked a drop of 1.6% in Q1 2009.
Only China managed to close Q2 2020 with GDP growth (+ 11.5%). The largest decline is that of India (-25.2%), followed by the UK (-20.4%). The decline was also clear in Mexico (-17.1%), SA (-16.4%), France (-13.8%), Italy (-12.8%), Canada (-11 , 5%), Turkey (-11%), Brazil and Germany (both -9.7%), US (-9.1%), Japan (-7.95), Australia (-7%) and Indonesia (-6.9%).
On a global scale, the progress made in the last 10 years in the fight against extreme poverty might vanish. In regions such as sub Sahara, Middle East and North Africa poverty levels could return to those of 30 years ago.
This might start new waves of mass immigration and social unrest, further triggering populist winds blown by #fakenews.
Much work to do, starting with the imperative need for #governments and #publicpolicy experts to frame regulation on the abuse of digital platforms and users' manipulation.
#thesocialdilemma #Covid #socialmedia #macroeconomics SmartBizHub GmbH
Social Trends - Leadership - Digitalisation - Cultural Change