Coronavirus And The Rise Of The AI Economy

The Covid-19 outbreak is a health crisis that is having a growing impact on the global economy. The pandemic has caused a recession, record levels of unemployment and unprecedented debt levels globally. According to United Nations data in 2020 and 2021 alone, developing countries' repayments on their public external debt alone will soar to between $2.6 trillion and $3.4 trillion. The World Bank has predicted the coronavirus is pushing 40 to 60 million people into extreme poverty. Calls for international solidarity have so far delivered little tangible support and the risk of country debt defaults and corporate bankruptcies and the human costs associated with it is rising.