Gilani’s Gallopedia©

 Gallopedia

From Gilani Research Foundation               March 2021, Issue # 682*

Compiled on a weekly basis since January 2007

Gilani’s Gallopedia is a weekly Digest of Opinions in a globalized world

This issue scores 97 out of 100 on Gilani-Gallopedia's Globality Index, showing coverage of world population, and 98 out of 100 on the world income (prosperity) Index. Click for Details

Contact Details: Natasha Amir

Research Executive, Gallup Pakistan

Email: natasha@galluppakistan.com

This WEEKLY REPORT consists of 22 national & multi country surveys 7 polling organizations have been represented.

Asia:

India (Technology), Thailand (Technology), Malaysia (Technology), Saudi Arabia (Technology), Libya (Elections)  05 national poll

Africa:

Nigeria (Crime) – 01 national poll

Euro Americas:

UK(Social problems, Perception on Performance, Ethnicity), France(Ethnicity), Germany(Entertainment, Social Problems), Finland(Technology), Hungary (Health), USA (Crime), Australia(Technology, Health, Health) – 12 national polls

Multi-Country Studies:

Ipsos Egypt – 24 Countries (Consumer Confidence)

Ipsos Spain – 28 Countries (Family)

Ipsos South Africa28 Countries (Health)

PEW – All Countries (Poverty)

Topic of the Week:

The Pandemic Stalls Growth In The Global Middle Class, Pushes Poverty Up Sharply

Gilani-Gallopedia Globality Index

      ASIA AND MENA Regions

682-01  Maruti Suzuki Is The Healthiest Automotive Brand In India (Click for Details)

(India) Maruti Suzuki tops YouGov’s 2021 Auto Rankings in India with an Index score of 28.6. Despite this year’s global pandemic and consequent economic downturns, the Indian auto manufacturer enjoys the best brand health among consumers in India. The rankings were based on the Index score from YouGov BrandIndex, which is a measure of overall brand health calculated by taking the average of Impression, Quality, Value, Satisfaction, Recommend and Reputation.

(YouGov India)

March 16, 2021

3.11 Economy » Technology

 (Top)

682-02  Toyota Tops YouGov Thailand’s 2021 Automotive Rankings (Click for Details)

(Thailand) Toyota tops YouGov’s 2021 Automotive Rankings for Thailand with an Index score of +42.8, making it the car brand with the best overall brand health according to Thais. The rankings are compiled using YouGov BrandIndex Index score, a measure of overall brand health calculated by taking the average of Impression, Quality, Value, Satisfaction, Recommend and Reputation scores. The rankings are measured from 1 February 2020 to 31 January 2021.  

(YouGov Thailand)

March 16, 2021

3.11 Economy » Technology

(Top)

 

682-03  Honda Tops YouGov Malaysia’s 2021 Automotive Rankings (Click for Details)

(Malaysia) Honda tops YouGov’s 2021 Automotive Rankings for Malaysia with an Index score of +37.9, making it the car brand with the best overall brand health according to Malaysians. The rankings are compiled using YouGov BrandIndex Index score, a measure of overall brand health calculated by taking the average of Impression, Quality, Value, Satisfaction, Recommend and Reputation scores. The rankings are measured from 1 February 2020 to 31 January.

(YouGov Malaysia)

March 16, 2021

3.11 Economy » Technology

(Top)

682-04  Toyota Tops Yougov’s 2021 Automotive Rankings In Saudi Arabia (Click for Details)

Toyota tops YouGov’s 2021 Automotive Rankings in Saudi Arabia (Saudi Arabia) YouGov’s 2021 Automotive Rankings reveal Toyota enjoys the best brand health among Saudi residents and tops the list with an Index score of 36. Along with the parent brand, its luxury segment subsidiary- Lexus also makes a presence in the list in third (with a score of 22.6).

(YouGov MENA)

March 16, 2021

3.11 Economy » Technology

(Top)

682-05  Three-In-Four Libyans Say The Economy Is In A Very Bad Or A Bad State (Click for Details)

(Libya) When asked about the most important challenge currently facing the country, three-in-ten Libyans say it is the internal instability while 26% cite foreign interference. The dire economic situation comes third with 20%, and the COVID19 threat is seen by only 12% as the most important challenge facing Libya. However, COVID19 remains a source of concern. The majority of Libyans (72%) say they are very concerned or somewhat concerned about the spread of the virus in the next 6 months.

(Arabbarometer)

March 16, 2021

1.1 Domestic Politics » Elections

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AFRICA Regions

 

*      AFRICA

682-06  Nine In 10 Nigerians (85%) Say They Are Concerned About Kidnappings (Click for Details)

(Nigeria) Almost nine in 10 Nigerians (85%) say they are concerned about kidnappings and attempted kidnappings in their state, including 55% who are “very concerned” about this issue. Only 13% say they are either not that concerned or not concerned at all. Apprehension about kidnappings is more widespread in the three northern zones – North West (96%), North East (89%), and North Central (87%) – than in the South.

(Afrobarometer)

March 18, 2021

4.12 Society » Crime

(Top)

EURO-AMERICA Regions

*      EUROPE

682-07 Six In Ten Do Not Want To Cut Spending On Public Services To Pay Off Debt (Click for Details)

(UK) The new Ipsos MORI Political Monitor finds that most Britons (54%) believe that the Government has spent about the right amount on supporting ordinary people during the pandemic so far (29% say they’ve spent too little). However, when it comes to future spending the public are more split, with 45% thinking the Government will spend too little on supporting ordinary people during the recovery from the pandemic and 40% thinking they will spend the right amount.

(Ipsos MORI)

17 March 2021

4.13 Society » Social Problems             

(Top)

682-08  43% Londoners Think Sadiq Khan Has Handled COVID Well (Click for Details)

(UK) Overall, Londoners are split over Khan’s handling of the pandemic: 43% think he has handled it well, while 39% think he has handled it badly. Labour voters (60%) are the most likely to think Khan has handled the pandemic well, including one in eight (12%) who think Khan has handled it “very well”. However, around a quarter of Labour voters (26%) are not happy with Khan’s performance and think he has handled the pandemic badly.

(YouGov UK)

March 18, 2021

3.1 Economy » Perceptions on Performance

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682-09  Less Than Half Of Britons Expected To Tick ‘Christian’ In Uk Census (Click for Details)

(UK) The once-a-decade snapshot of the country has included a voluntary question about religion since 2001. In 2011, returns across England and Wales, Scotland, and Northern Ireland showed 59.3% ticking Christianity, a fall from 71.6% a decade earlier. Day predicted the proportion of people ticking Christianity “could drop below 50%”. Peter Brierley, an expert on religion statistics, said he predicted 48% or 49% identifying as Christian, but David Voas, head of the social sciences department at University College London, said he would be surprised if the figure fell below 50%.

(The Guardian)

March 20, 2021

4.3 Society » Ethnicity

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682-10 1 In 2 French People Think The Pandemic Has Exacerbated Ethnic Discrimination (Click for Details)

(France) 7 out of 10 French people believe that the criteria of origin influence the possibilities of access to housing. 69% of French people surveyed also believe that they condition access to employment and 63% that they determine access to education. Almost a quarter (24%) of French people surveyed declared having had personal experience of situations in which they considered their origin to have been an obstacle. More than half (52%) of French people (n ° 2 after Spain) think that the pandemic has exacerbated discrimination - employment, education, housing or social services - linked to ethnic origins.

(Ipsos France)

March 21, 2021

4.3 Society » Ethnicity

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682-11  Youtube Is The Most Popular Online Music Service Among Germans (Click for Details)

(Germany) Not only video but also audio streaming was the focus, in the latter case especially podcasts and music streaming. In this context, 35 percent of Germans state that they currently use the YouTube platform, regardless of whether they have free or paid access. This is what respondents aged 18 to 44 say most often (41-42 percent). The streaming portal Spotify only ranks second among all German respondents with 21 percent, but it is more important for the 18 to 29 year olds: Half (50 percent) of that age group state that they currently use Spotify.

(YouGov Germany)

March 19, 2021

4.16 Society » Entertainment

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682-12 71% Of 14 To 24-Year-Olds State That They Have Good Social Contacts With Friends (Click for Details)

(Germany) The proportion of 14 to 24-year-olds who state that they have good social contacts with friends has decreased by ten percentage points to 71 percent during this period. In terms of contacts with family members, the difference compared to the survey from December 2019 is eight percentage points. Likewise, the proportion of those who can “be there for others” to the desired extent falls in Generation Z by eight percentage points to 52 percent. 

(Ipsos Germany)

18 March 2021

4.13 Society » Social Problems

(Top)

682-13  Finland's Strongest Car Brands (Click for Details)

(Finland) When Finns evaluate car brands on six indicators (quality, general image, value for money, willingness to recommend, reputation and satisfaction), Toyota ranks number one. Volvo grabs second place in the Finnish rankings and Mercedes-Benz third place. In addition to Mercedes-Benz, several German brands will rise to the TOP10 list. Volkswagen is fourth, Audi fifth and BMW sixth. Japanese brands can also be found on the list in addition to Toyota, with Honda ranked nineth and Nissan ranked tenth.

(YouGov Finland)

March 16, 2021

3.11 Economy » Technology

(Top)

682-14 Above 50% Vaccination Propensity In Hungary (Click for Details)

Hungary Plans To Speed Up Vaccine Rollout To Reach Full Coverage By June -  UrduPoint (Hungary) Rejection is highest in the under-30 age group, at 56%, compared to only 32%. Among those over 50, the proportion is just the opposite. In absolute terms, two-thirds of the population who have received at least one vaccination is over 60, and two-thirds are also women. Half of those who oppose the vaccine are under the age of 40 (although they make up 38% of the adult population), yet vaccination can be measured at the same rate among both sexes.

(Ipsos Hungary)

March 16, 2021

4.11 Society » Health

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*      NORTH AMERICA

682-15 69 Americans Say It Is Very Important For Federal Law Enforcement Agencies To Find And Prosecute The People Who Broke Into The U.S. Capitol On Jan 6 (Click for Details)

(USA) The survey by Pew Research Center, conducted March 1-7, 2021, among 12,055 U.S. adults who are members of the Center’s nationally representative American Trends Panel, finds a wide majority of Americans (69%) saying it is “very important” for federal law enforcement agencies to find and prosecute the people who broke into the U.S. Capitol on Jan. 6. Another 18% say doing this is “somewhat important.” Just 12% say this is not too or not at all important.

(PEW)

MARCH 18, 2021

4.12 Society » Crime

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*      AUSTRALIA

682-16 Toyota Tops YouGov Australia’s 2021 Automotive Rankings (Click for Details)

(Australia) Toyota tops YouGov’s 2021 Automotive Rankings for Australia with an Index score of +43.9, making it the car brand with the best overall brand health according to Australians. The rankings are compiled using YouGov BrandIndex Index score, a measure of overall brand health calculated by taking the average of Impression, Quality, Value, Satisfaction, Recommend and Reputation scores. The rankings are measured from 1 February 2020 to 31 January 2021.

(YouGov Australia)

March 16, 2021

3.11 Economy » Technology

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682-17 73.7% Of Australians Holding Private Health Insurance Are Satisfied (Click for Details)

(Australia) Australia’s largest fund by market share, Medibank Private, had a satisfaction rating of 69.8%, one of the lowest of the more than two dozen funds measured. BUPA, which is a close second in terms of market share, had a slightly higher score of 71.5%. Each of those funds has more than twice as many members as the next largest fund, HCF, which had a customer satisfaction rating of 75%.

(Roy Morgan)

March 17 2021

4.11 Society » Health

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682-18 Movement Of People In Melbourne Cbd Is At 39% Of Normal One Year After The First Covid Lockdown (Click for Details)

(Australia) The Adelaide CBD has been the standout performer over the last two months with movement levels in mid-March now at 83% of the pre-COVID-19 levels and above 70% since the start of February. Movement levels in the Adelaide CBD have averaged more than 10% higher than either Brisbane CBD, Perth CBD or Hobart CBD during the last two months.

(Roy Morgan)

March 19 2021

4.11 Society » Health

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*   MULTICOUNTRY STUDIES

682-19  Global Consumer Confidence Getting Closer To Pre-Pandemic Level (Click for Details)

Global consumer confidence getting closer to pre-pandemic level | IpsosSix of the 24 surveyed markets show significant growth in their National Index when compared to February 2021: Great Britain (+3.6), the United States (+2.2), Belgium (+1.8), Canada (+1.7), Japan (+1.7), and Turkey (+1.6). Meanwhile, not a single market has experienced a significant drop, defined as 1.5 index points or more.

(Ipsos Egypt)

17 March 2021

3.2 Economy » Consumer Confidence

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682-20  81% Of Spanish Mothers And Fathers Feel Judged By Others (Click for Details)

On a global average, 82% parents interviewed in the countries where the study was carried out, feel judged. A percentage very similar to that of Spain, where 81% of parents feel questioned about their parenting method . Positioning itself as the third country in Europe that feels the most judged in this regard, only behind Poland (91%) and the United Kingdom and Hungary (both with 83%). Germany, Holland and France, all of them with the same percentage (77%), are the Europeans who feel less questioned.

(Ipsos Spain)

March 17, 2021

4.2 Society » Family

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682-21  After Covid-19: Putting People Before Politics Is Key To Recovery (Click for Details)

Mentioned by a third of people (33%) and equally likely to be picked out by men and women, the most important quality that people want from their political leaders in order to be considered to do a good job in handling the recovery from the pandemic is to put their country’s needs before politics. This is followed by being honest with the public (29%), understanding the problems facing ordinary people (28%), taking into account the impact on the economy as well as on health (25%) and making the right decisions at the right time (25%).

(Ipsos South Africa)

18 March 2021

4.11 Society » Health

(Top)

682-22  The Pandemic Stalls Growth In The Global Middle Class, Pushes Poverty Up Sharply (Click for Details)

Global poverty had abated at an average rate of 49 million annually from 2011 to 2019, with the number of global poor falling from 1.10 billion to 691 million during this period. The pandemic, by adding 131 million to the ranks of the poor, has set the progress on poverty back by several years, and the poverty rate is estimated to have increased from 9.0% in 2019 to 10.4% in 2020.

(PEW)

MARCH 18, 2021

3.5 Economy » Poverty

(Top)

TOPIC OF THE WEEK:

The Pandemic Stalls Growth In The Global Middle Class, Pushes Poverty Up Sharply

uThis page is devoted to opinions of countries whose polling activity is generally not known very widely or where a recent topical issue requires special attention.

 

 

 

The Pandemic Stalls Growth In The Global Middle Class, Pushes Poverty Up Sharply

The COVID-19 pandemic is having a deep effect on the global economy. In January 2020, as reports of the novel coronavirus were emerging, the World Bank forecasted that the global economy would expand by 2.5% that year. In January 2021, with the pandemic still holding much of the world in its grip, the World Bank estimated that the global economy contracted by 4.3% in 2020, a turnabout of 6.8 percentage points.

Chart showing the COVID-19 downturn curbed growth in the global middle class, increased poverty sharply in 2020

The economic downturn is likely to have diminished living standards around the world, pushing millions out of the global middle class and swelling the ranks of the poor. At the same time, the path to a recovery is clouded with uncertainties.

A new Pew Research Center analysis finds that the global middle class encompassed 54 million fewer people in 2020 than the number projected prior to the onset of the pandemic. Meanwhile, the number of poor is estimated to have been 131 million higher because of the recession.

The drop-off in the global middle class was centered in South Asia and in East Asia and the Pacific, and it stalled the expansion seen in the years preceding the pandemic. South Asia, specifically India, along with Sub-Saharan Africa, accounted for most of the increase in poverty, reversing years of progress on this front.

As defined in this report (and in previous Pew Research Center analyses), people who are middle income live on $10.01-$20 a day, which translates to an annual income of about $14,600 to $29,200 for a family of four. This is modest by the standards of advanced economies. In fact, it straddles the official poverty line in the United States – about $23,000 for a family of four in 2020 (expressed in 2011 prices). By global standards, the poor live on $2 or less a day, or no more than $2,920 annually for a family of four.

The number of people in the global high-income tier (more than $50 daily) is estimated to have decreased by 62 million in 2020, erasing about half of the gain since 2011, with most of the change emanating from advanced economies. Meanwhile, the upper-middle income population ($20.01-$50 daily) fell by 36 million, while the low-income population ($2.01-$10 daily) is estimated to have increased by 21 million.

Who is middle class (or middle income)?

This report uses the terms “middle income” and “middle class” interchangeably, a common practice among economists who tend to define the middle class in terms of income or consumption. But being middle class can connote more than income, be it a college education, white-collar work, economic security, owning a home, or having certain social and political values. Class could also simply be a matter of self-identification. The interplay among these many factors is examined in studies by Hout (2007) and Savage et al. (2013), among others.

The population in each global region is divided into five groups: poor, low income, middle income, upper-middle income and high income. The poor live on $2 or less daily, low income on $2.01-$10, middle income on $10.01-$20, upper-middle income on $20.01-$50 and high income on more than $50. All dollar figures are expressed in 2011 prices and purchasing power parity dollars, currency exchange rates adjusted for differences in the prices of goods and services across countries.

The assignment to a group, or income tier, is based on a household’s daily per capita income or consumption, a simple way of controlling for differences in household size. In the source data, some countries only report income data while others only report consumption data. The terms “income” and “consumption” are used interchangeably for the sake of convenience.

A middle-income, or middle-class, threshold of $10 follows the practice of other researchers. A similar threshold has been used by the World Bank (20072015), researchers at the Organization for Economic Cooperation and Development (Kharas, 2010), the development community (Birdsall, Lustig and Meyer, 2013) and others. There is evidence that the $10 threshold, which is about five times higher than the World Bank’s global poverty line, is associated with economic security and “insulates” people from falling back into poverty. An earlier Pew Research Center report discusses the choice of income thresholds in greater detail.

The global middle-class standard is modest by the standards of advanced economies. In 2020, the official poverty line for a family of four in the U.S. stood at about $15.90 per person per day (in 2011 prices). Thus, many who are poor by the U.S. definition would meet the global middle-income standard or, conversely, many who are in the global middle class would be poor by U.S. standards.

Chart showing that globally, most are either poor or low income, and the pandemic likely drove the numbers higher in 2020

These estimates are based on the Center’s analysis of World Bank data on the distribution of people by either income or consumption levels in seven major global regions. The latest available estimates of income for each region, such as for 2018 for Europe and Central Asia and 2015 for the Middle East and North Africa, are extrapolated to 2020 using two sets of growth estimates: the forecasts issued by the World Bank in January 2020, prior to the pandemic, and the estimates issued in January 2021, with the pandemic’s economic impact in plainer sight. The difference between these two measures is taken to represent the impact of the COVID-19 downturn on the standard of living of people globally.

Prior to the emergence of COVID-19, some 1.38 billion people were expected to be counted in the global middle class in 2020. But the pandemic is estimated to have driven this number down to 1.32 billion. The share of people in the middle class globally is estimated to have been 17.1% in 2020, instead of potentially 17.8%. The erosion in the middle class might have been deeper if not for the fact that China – which is home to more than one-third of the global middle class – evaded an economic contraction, even though growth there was slower than anticipated.

The number of global poor is estimated to have risen to 803 million in 2020, much greater than the 672 million initially expected. The global poverty rate, which had been in steady decline this century, is likely to have increased to 10.4%, nearly reverting to the rate in 2017, instead of sinking to a new low of 8.7%, as previously expected.

The steep rise in global poverty is driven by the fact that many who were in the low-income tier prior to the pandemic lived on the margin of poverty. In 2017, 877 million people lived on $2 to $3 a day, according to World Bank estimates. Thus, large numbers were susceptible to falling back into poverty prior to the pandemic, especially in South Asia and Sub-Saharan Africa.

At the other end of the economic spectrum, the global high-income population likely fell to 531 million in 2020 from the 593 million originally expected. Consequently, the expected share in the high-income tier is 6.8%, not 7.6%. A vast majority of the global high-income population lives in advanced economies, and this group of countries also experienced a sharp downturn in 2020. Ironically, this bolstered the global middle-income population as people in advanced economies slipped down the ladder from higher income tiers.  

Chart showing that the global middle class expanded rapidly from 2011 to 2019, and poverty fell sharply

The reversal in global living standards in 2020 comes on the heels of notable progress earlier in the decade. From 2011 to 2019, the global middle-class population increased from 899 million to 1.34 billion, or by 54 million people annually, on average. The pandemic is estimated to have erased a year of growth, leaving the global middle-class population nearly unchanged from 2019 to 2020.

Global poverty had abated at an average rate of 49 million annually from 2011 to 2019, with the number of global poor falling from 1.10 billion to 691 million during this period. The pandemic, by adding 131 million to the ranks of the poor, has set the progress on poverty back by several years, and the poverty rate is estimated to have increased from 9.0% in 2019 to 10.4% in 2020.

From 2011 to 2019, the global high-income population had increased from 459 million to 576 million, growing by an average of 15 million annually. Thus, the setback of 62 million due to the pandemic in 2020 also reverses several years of growth in the high-income population. The share of the global population in the high-income tier is expected to have decreased from 7.5% in 2019 to 6.8% in 2020.

The erosion of the middle class is centered in Asia, the rise in poverty in Asia and Africa

The effect of the COVID-19 downturn on the middle class and other income tiers shows distinct regional differences. Asia is expected to have accounted for most of the shrinking of the global middle class in 2020, with the middle-class population falling by 32 million in South Asia and by 19 million in East Asia and the Pacific. Meanwhile, the middle class in advanced economies is estimated to have increased by 16 million, in part due to the drop-off in the high-income tier in those countries.

Chart showing that South Asia is estimated to have experienced the largest decrease in the middle class and the greatest increase in poverty due to the COVID-19 downturn in 2020

The projected rise in global poverty in the pandemic is concentrated in South Asia (an increase of 78 million) and Sub-Saharan Africa (40 million), historically among the poorest regions in the world. The high-income population in advanced economies is estimated to have shrunk by 47 million in 2020, accounting for most of the falloff globally. It should be noted that the global cutoff for the high-income tier – more than $50 a day – is not much higher than the median income across advanced economies, as an estimated 40% of the population in these countries is in the global high-income tier. Thus, the contraction of the high-income tier in advanced economies is more a reflection of the reduction in the standard of living of the typical person in these countries than outcomes for the wealthy.

The contribution of a region to global changes overall and the shift in its own income distribution depends mostly on two factors: the sizes of income tiers in the region prior to the COVID-19 recession and the impact of the downturn on economic growth in the region.

Prior to the pandemic, nearly half of the global middle-class population – 672 million of 1.38 billion – was estimated to live in East Asia and the Pacific, a region that includes China. Latin America and the Caribbean accounted for 191 million, and Europe and Central Asia was home to 183 million. South Asia accounted for 123 million more.

In view of these magnitudes, the estimated loss (relative to pre-pandemic expectations) of 32 million people from the middle class in South Asia is notable for two reasons. First, the region contributed the most to the shrinking of the global middle class in 2020 despite having a middle-income population smaller than several other regions. Second, the percentage decrease in South Asia’s middle-income population from what was previously expected (26%) is much greater than in any other region. Although East Asia and the Pacific shed 19 million from the middle-income tier, that represented only 3% of its middle class.

Chart showing that prior to the pandemic, most of the global middle class lived in East Asia and the Pacific, the poor in Sub-Saharan Africa, high-income earners in advanced economies

Poverty is most prevalent in Sub-Saharan Africa. Some 494 million people in Sub-Saharan Africa, out of a total population of 1.14 billion, were expected to be living in poverty ahead of the pandemic in 2020. South Asia, with a total population of 1.86 billion, was expected to be home to 104 million poor. Nonetheless, South Asia is estimated to have added nearly double the amount of people to the ranks of the globally poor as Sub-Saharan Africa in the pandemic. The percentage increase in poverty in South Asia (75%) dwarfs the increase in Sub-Saharan Africa (8%).

The number of poor in other regions was smaller, estimated to range from 6 million in Europe and Central Asia to 27 million in Latin America and the Caribbean ahead of the pandemic in 2020. But, since that moment, the increase in poverty in these regions is notable. The Middle East and North Africa and East Asia and the Pacific are each estimated to have seen increases in poverty of more than 20% due to the recession. The rise in poverty in both Europe and Central Asia and Latin America and the Caribbean is not far behind, with each experiencing a 17% increase in poverty.

A large majority of the global high-income population – 489 million of 593 million – lived in advanced economies before the global recession took hold. The estimated decrease of 47 million, or 10%, in this population in advanced economies accounts for most of the shrinking of the global high-income tier.

In proportional terms, the drop off in the high-income tier is also notable in Latin America and the Caribbean (15%), Europe and Central Asia (12%) and East Asia and the Pacific (12%). The losses in the Middle East and North Africa, South Asia and Sub-Saharan Africa are relatively small in magnitude (each less than 1 million people) but also represent double-digit shares of the high-income populations in those regions.Table showing South Asia estimated to have seen the sharpest drop in output growth in 2020, East Asia and the Pacific the least

The relatively outsized role of South Asia in the contraction of the global middle class and the expansion of poverty is the result of it seeing the sharpest reduction in economic growth in the pandemic. In January 2020, the World Bank forecasted that South Asia would experience a 4.3% increase in gross domestic product (GDP) per capita in 2020. But, in January 2021, output in South Asia was estimated to have decreased by 7.8% in 2020, a retreat of 12.1 percentage points from potential.

The setback to economic growth in other regions is smaller, ranging from 4.7 percentage points in East Asia and the Pacific to 8.6 points in Latin America and the Caribbean. East Asia and the Pacific is the only region in which growth is estimated to have stayed positive in 2020, with GDP per capita inching up by 0.4% even after the onset of the pandemic. Otherwise, the latest estimates of the change in output per capita in 2020 ranged from -3.2% in Europe and Central Asia to -7.8% in Latin America and the Caribbean.

(PEW)

MARCH 18, 2021

Source: https://www.pewresearch.org/global/2021/03/18/the-pandemic-stalls-growth-in-the-global-middle-class-pushes-poverty-up-sharply/

 

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GILANI-GALLOPEDIA GLOBALITY INDEX:

u The purpose of this index is to treat the Global Coverage by each issue of Gallopedia in terms of Population, National Income and estimated Power measured by G20 Membership.

 

*      GILANI-GALLOPEDIA GLOBALITY INDEX

 

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