Covid-19: UN report says recession to hit developing nations may spare India and China | Oneindia

Covid-19: UN report says recession to hit developing nations may spare India and China | Oneindia

AS THE WORLD BATTLES THE CORONAVIRUS PANDEMIC, THE WORLD ECONOMY WILL GO INTO RECESSION THIS YEAR WITH A PREDICTED LOSS OF TRILLIONS OF DOLLARS OF GLOBAL INCOME, SERIOUS TROUBLE PREDICTED FOR DEVELOPING COUNTRIES WITH THE LIKELY EXCEPTION OF INDIA AND CHINA ACCORDING TO A LATEST UN TRADE REPORT.

WITH TWO-THIRDS OF THE WORLD'S POPULATION LIVING IN DEVELOPING COUNTRIES FACING UNPRECEDENTED ECONOMIC DAMAGE FROM THE COVID-19 CRISIS, THE UN IS CALLING FOR A USD 2.5 TRILLION RESCUE PACKAGE FOR THESE NATIONS.

THE REPORT BY UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT , HOWEVER, DID NOT GIVE A DETAILED EXPLANATION AS TO WHY AND HOW INDIA AND CHINA WILL BE THE EXCEPTIONS AS THE WORLD FACES A RECESSION AND LOSS IN GLOBAL INCOME THAT WILL IMPACT DEVELOPING COUNTRIES.

#Coronavirus