the discovery world around the subscribed to the w documentary on you to me. ah ah, ah, inflation is surging as many countries emerged from locked down. that could see interest rates rise sooner than expected. and that could hamper the global economic recovery. but just what sort of recovery is it going to be? because a lot of nations are still struggling with the crisis. they don't even have a vaccines yet. some economists are predicting a very and even recovery no,

just for developed and developing economies, but also for various parts of society. the big question is, can government steers in the right direction? the perfect time to look at lessons learned from the pandemic? a year ago things looked very different. a thick cloud of uncertainty and fear hung over our heads. economies were in freefall as countries shut their borders factories, schools and sent everyone home. we basically went into hiding, scared of catching this new virus, that really none of us really knew much about back then i talked to 5 top economists about their predictions for the business world and our working lives. a year on i spoke to again in the hope of gathering a little more hope. ah, i think you should be confident not to miss super confident. this is one of them

most severe crisis in the world history you ever had. but on the other hand, of course, we see also very positive things also let's say people sitting in the same boat. now i don't think we have one enough. i think we're still stumbling on why forward . so we have amateur drive, is that the wheels that they live with economy, and that's the main danger we use depend, i make, has increased cooperation in society, has been a lot of cooperation across country. that's a big source of innovation, where we do need to go now is a more inspiring collective future vision of what we want our economy to look like . and this is the moment to do it. i april 2020 was grim. where is everyone? now there's lights at the end of the tunnel. there's a vaccine. we have a strong instrument in our hands to fight this and i make a year ago,

it wasn't clear we would have a year ago. economists were trying to predict what sort of recession was coming of be signifies a shop brief decline, followed by a rebalance. w is a double dip recession l. the plunge that stays down low for a long time. it was nothing like an out of shape recession. fortunately, we would have been saw far worse without that level of government spending. it was between the saved recession and something maybe like a w was and up and down a roller coaster situation. but at the very end, i'm quite confident that we are not really on b of the track. it depends who we refers to. what has become very clear is that we're looking at k shaped recovery,

the continued polarization, the hollowing out of the middle class, the concentration of workers in low skill, located job, and then concentration of workers, and high skilled high paid jobs. the pandemic was a major dis, a cool eyes. i think that is probably the key issue between rich and poor after the crisis at this trend is really accelerating. but what about the record amounts of money government the spending to rebuild economies? this is only going to maintain a status quo that already working. we will see more home office working from home. and, and that mean more options for highly trained and educated workers. we've also seen, of course, and digitalization and acceleration. again, this favors highly educated people and all those who are able to walk in this digital digital digitalized world. and now post the pullback of some of the support

measures. you can probably expect that for those that were already having a difficult time, things will get worse. there has definitely been a will transfer again to the wealthy and like every, everything that happens in west and economy, the solution is to make it better by making the wealthy wealthier. there has to be a day of reckoning. so that at some stage i heard a year ago, economists, daniel stan toby, just throwing money at the problem wouldn't work all of the past 2 years or solving all problems in the economy by having cheaper money and more credit and more loans . it's coming to an end. it didn't, governments have never spent so much. but daniel's still not a fan. what is the main drive off the past? 40 of easy credit, much more money than was created low interest rates. and whenever there was a crisis, instead of having to lose money instead of been subbing that they should really

rather do the job and get the financial system back to the original role of funding, productive investments and not speculation. so if you speculate and your make a mistake, if it lose your money and for the rescue, is there something positive that come out of all of it where you okay, that will work it up, severe policies and finally understand economic. well, why don't dev on authentic another adult to be honest, i see a big risk to petition now have see, believe, let the other ones managing the world and i think they have not done a good drop into corona crisis. i fear it's going to be lead to less efficient and effective solutions. and therefore i would say it's an excuse support difference to grasp more power. getting boulder is going to pay off in the longer term. because this is the moment to create the carry economy, to upgrade our education systemic to put in place lifelong learning system to put

in place, sustaining better social safety nets for the future. all of that happens now. and what about globalization? the pandemic, broad international trade to a screeching halt. the main change over time, i hope will be more localisation of the manufacturing. i think they've got far too lengthy supply chains. far too much priced and exporting shape wages and the rest of the world, and not developing the domestic economy where the consumption actually occurs. i do not think that globalization would be replaced by regionalization on localisation. we shouldn't forget that locally. concentrated production also has its risks. so what we are heading for, i believe, is less concentration, let's say on the cheapest supplier, but more diversification to be more resilient in future crises. but this may even lead to more often less globalization. i'm very skeptical fraud, for instance,

about supply supply chain laws because they split labor markets in poor countries trapped in commodities. and that is not the way we would see for let's say, poorer countries really to catch up technologically. it's not good that developing countries poor countries will always be commodity export us let's that's not the way to development to prosperity the the, the prices gave us all pause for thought. it gave the environment a break too, but not for long. and wherever this fires came from, even if it came from the hand lab, the ultimate cause of this process has been excessive human pressure upon the boss fear. and we're going to say more and more instances of that coming back. so the

light that the tunnel maybe the fire, the forest burning it, if you bringing the factors down, all of us have seen one dire warning after another that talks about what, how, how far we have pushed to the limit the planet and how our current economic systems are not compatible with having a more sustainable and greener economy. we have to change our consumption habits, we'll do that. and maybe we'll be more social interconnection and maybe also social that's a coherence when we had it before, it has also shown us that maybe we can travel a little less doom all things from home be and that alone would be more environmentally friendly. so i think there are some positive aspect all calls on that and you know, it would be better to if the next and them didn't come before a 100 years. well,

this one isn't even better prepared to the next one. we've had enough practice spent more than enough time it locked down. well enough navel gazing for me. let's look at some of the numbers now because we're not going to beat this virus until everyone's back, said it. that's happening at the very uneven rates as you'll see in a moment. and what's emerging is a very uneven recovery between rich and poor nations. remember where all in this together, wasn't that the slogan at the beginning of the crisis? well, the longer this takes, the more chance go over 19 has of mutating into something more dangerous than it already is. why don't well lead us get it? in india, a new wave of the pandemic, his claiming thousands of knives, the leading to hundreds of thousands of new infections. daily bodies have been burned in makeshift pi, as the streets are deserted. business has dried up

some small stores of clothes or are about to cut down on 3 of my stuff which were like 8 is or will used to work in myself. so now there are no more like working for them. i wouldn't be able to do it in a vaccination is vital worldwide. but at the moment it's mostly restricted to industrialized nations. the quota in emerging economies was too low. some $89.00 vaccine doses have been administered per $100.00 americans in germany. it's $62.00 doses per $100.00 people, but argentina lags fall behind with me $28.00 doses in india, that figure stands only 15. and in south africa, there are in the 2 per $100.00. and yet, south africa has by no means got the poorest record in africa. the continent

is already paying a high economic price. according to the world health organization in africa. we need to know if these 3 countries, especially up, up, up, you know, different kinds of limitations of movement including probably show their job limits. michelle no further coded waves like that in india, could severely home business in the emerging economies. that's why the world needs a global vaccination campaign, subsidized with billions of us dollars. that's what the organization for economic cooperation and development in parents isn't urging. chief economist is clear about what's that steak at and now imagine marketing. we're catching up with that.

the old where it was reach me as of people were getting out of 40. if we maintain they can be bought. i cannot imagine market to reach cannot catch up and pull behind. that's going to be a terrible out to me. what would happen if vaccination didn't go global without a vaccine? the us think tank projects that the worldwide economic impacts of kobe 19, which has be more than $3.00 trillion dollars a year on equal access to vaccine supplies, could still cost the wells economy up to $1.00 trillion dollars. because if all countries were fully provided with vaccines by the beginning of 2022, it estimates the losses could be kept down to a $153000000000.00 us dollars with the international monetary fund says the prosperous g 20 states should dump up to $35000000000.00 us dollars for the global

vaccination drive. emerging economies would have to contribute $15000000000.00. the i m f says this is the only way to avoid a long last things in the world economy, which would hit the emerging economies particularly hard. it is essential that all necessary financing is available as soon as possible. clearly, the costs are not a trivial but the war, but the outsides benefits as we have been stressing a fast the end to the pandemic, not only stay flies. the global vaccination program could result in trillions of euros of growth in the next 4 years. if economies continue to recover. but that will only happen if the pace the roll out. his really stepped up worldwide and the spread of more aggressive virus strains is stopped.

if some of those numbers send you into a spin, this next report could help bring you back down fighting off corona virus. anxiety with meditation. the pandemic has sparked a boom in mindfulness apps, they're designed to converse down. find in a piece, musicians that happy to help earning in or caching in the trend religious groups to with apps. like mindful, muslim analysts say the global market could be worth $6000000000.00 us dollars by the year 20. 27 is something to be mindful about imprisoned but all is available working from home it's enough to send you mad.