The world’s largest vaccine producer, the Serum Institute, announced a plan to make hundreds of millions of doses of an unproven inoculation. It’s a gamble with a huge upside. And huge risks.
As the pandemic destroys paychecks, migrant workers are sending less money home, threatening an increase in poverty from South Asia and sub-Saharan Africa to Eastern Europe and Latin America.
Laborers have not just stopped traveling in search of work. Many have also headed back to their home countries.
Experts say that for the first time since 1998, global poverty will increase. At least a half a billion people could slip into destitution by the end of the year.
Crowded camps, depleted clinics and scarce soap and water make social distancing and even hand-washing impossible for millions of refugees.
As capital flees emerging markets, those countries are absorbing the most potent economic shocks of the coronavirus outbreak.