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 Impacts of the covid-19 pademic on global economy


-Unemployment
According to WHO, disruptions related to the pandemic has also had dire
consequences for the world's 2 billion informal sector workers.
Compared to 2019, an additional 108 million workers worldwide are now
considered living in poverty or extreme poverty. This means they and
their families live on the equivalent of less than $3.20 per person per day.
Underemployment: On June 4, the Office of the International Labor
Organization (ILO) Hanoi said the ILO's "World Employment and Social
Outlook: Trends 2021" forecasted a "job gap". caused by the global crisis
will reach 75 million in 2021, before falling to 23 million in 2022

- Labor poverty rate: Compared to 2019, there are now 108 million more
workers worldwide classified as poor or extreme poverty.

- The regions hardest hit in the first half of 2021 are Latin America and the
Caribbean, Europe and Central Asia. In both regions, the estimated loss
of working time exceeded 8% in Q1 and 6% in Q2, while the global loss
of working time in Q1 and Q2 respectively. are 4.8% and 4.4%.

- Global stock markets set historic milestones


- USD fluctuates strongly, depreciating against other major currencies
- Gold and Bitcoin Rise to Record
- Global debt hits record high
- Asset quality of the world's banking system declines, bad debts increase
 Impacts of covid-19 pademic on Vietnam’s economy
- Growth slows down: The General Statistics of Vietnam (GSO) used to
forecast that gross domestic product (GDP) in the second quarter of 2021,
increased by 6.6% over the same period in 2020, but in a report released
on August 30, the bank Singapore's DBS has lowered this growth
forecast to 5%, instead of 6.7% as initially forecast.
- The position of the production center is shaken: The British financial
daily Financial Times said that the new Covid-19 epidemic is having a
heavy impact on the position of Vietnam, which is considered one of
Asia's leading manufacturing hubs. The newspaper said that Japan's
Nikkei Asia page now ranks Vietnam at 120th in the Covid-19 Recovery
Index, which is an index of disease management and vaccination rates,
both sides that Vietnam shows bad. The Financial Times quoted Ms.
Nguyen Phuong Linh, deputy director of the consulting firm Control
Risks: “Restrictive measures are severely constraining Vietnam's
production capacity. Some businesses now do not dare to accept new
orders anymore, for fear of not being able to meet them due to the
shortage of workers.
- Impact on world supply: Vietnam's restrictive measures to prevent the
Covid-19 epidemic are also causing increasing concern for the global
coffee supply chain, because Vietnam is currently the second largest
coffee exporter in the world gender. The factories of major international
brands such as Nike and Adidas have stopped working, disrupting the
global supply chain, to the point that some people predict that this year's
Christmas season the world will be in short supply of shoes

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