Hi Allen,There's a typo under the "Simple Example" heading. It reads "Total Value here is $130 million ($70 RV + $70 D)." I think the second $70 should be a $60 in order for the math to check out.Really like the blog by the way.
During 2020, as the pandemic spread around the globe and growth forecasts deteriorated, we gradually increased our estimate of the impact of the pandemic on global poverty. To recall, COVID-19-induced poverty is calculated as the difference in poverty in a world with and without the pandemic. The pandemic-induced poverty estimates were derived using the latest growth forecasts available from the Global Economic Prospect (GEP), and the pre-pandemic counterfactual was derived using the forecasts from the January 2020 GEP. In January 2021, we estimated that the pandemic will push between 119 and 124 million people into extreme poverty around the globe in 2020.
In this blog, we revise those numbers based on updates to global poverty data that occurred in March and June and based on the recently launched growth forecasts from the June 2021 version of GEP. We aim to provide preliminary answers to two questions: Is global poverty turning the corner on the pandemic in 2021, and if so, is this happening in a similar way across countries?
In 2021, we project global poverty to decrease by about 21 million people compared with 2020. This represents exactly the same decline we had expected would occur in 2021 before the pandemic hit. The implications of this estimate are that global poverty is projected to decline, and the pace of reduction is returning to the pre-pandemic trend. In that sense, one could say that global poverty may be turning the corner on the pandemic in 2021. Still, this does not mean that we are getting back to the level of poverty we had anticipated in 2021 before the pandemic spread. In fact, because the pace of reduction is similar to what we expected before the pandemic spread, the recovery taking place will not be sufficient to close the gap the pandemic is estimated to have caused in 2020. Globally, the increase in poverty that occurred in 2020 due to COVID still lingers, and the COVID-induced poor in 2021 continues to be 97 million people. If global poverty continues to reduce at the pace we expected before the pandemic, every year there will be tens of millions of people living in poverty because of the initial fallout from the pandemic.
Why is global poverty projected to decrease in 2021? Or, put differently, why is growth expected to recover in the countries where the poor live? In January we projected that global poverty would at best stagnate in 2021 and that the COVID-induced poor could rise to around 150 million people. This year we have witnessed some of the worst waves of the pandemic in low- and middle-income countries, such as the millions of recorded cases in India in April and May. Would these developments not suggest that our January estimates were too optimistic, and that poverty is bound to increase further in 2021? Though we can only speculate on the reasons why global poverty may decrease in 2021, here are some possible explanations.
Summer is just around the corner. All those spring flowers and warm, sunny days will soon transform into a very romantic season. Think of a cozy picnic in the park, a relaxing day at the beach, or a trip to a romantic destination.
Most public information on data breaches only dates back to 2005. In 2020, multiple surveys showed that more than half of Americans were concerned about data breaches during natural disasters, as well as personal safety resulting from the pandemic. Data breaches today tend to impact millions of consumers in just one companywide attack.
To this end, we recently rolled out eco-friendly routing in Google Maps, which we estimate will save about 1 million tons of CO2 emissions per year (the equivalent of removing more than 200,000 cars from the road). A recent case study shows that using Google Maps directions in Salt Lake City results in both faster and more emissions-friendly routing, which saves 1.7% of CO2 emissions and 6.5% travel time. In addition, making our Maps products smarter about electric vehicles can help alleviate range anxiety, encouraging people to switch to emissions-free vehicles. We are also working with multiple municipalities around the world to use aggregated historical traffic data to help suggest improved traffic light timing settings, with an early pilot study in Israel and Brazil showing a 10-20% reduction in fuel consumption and delay time at the examined intersections.
Ransomware, info-stealing malware, and scams may be taking up the headlines, but a new, "tough" national cybersecurity strategy is right around the corner. Read about these stories and more in this week's Friday Five.
When asked about what I do for a living, I used to expect to start every response with a short explanation of malaria, mosquitoes, insecticides, bed nets and vector control. But this is happening less frequently these days. The general public often knows the basics about malaria and there is an expectation that the challenge of malaria is being managed and a solution is just around the corner.
(Comment to Nancy Reyner, artist/guest writer of this article)Nancy, thank you very much for this valuable blog. My wonderfully talented daughter, who has just recently built her website and started her business, received an email this morning that looked very similar to what you have included as an example. It is wonderful to know that experienced, successful artists, like yourself, are generous with their lessons learned. You saved her from being scammed today. I came across this article after typing in the search bar the exact title of your article. (Nancy) Your artwork is beautiful.
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