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The poor die with COVID while the rich get richer, Oxfam warns | Coronavirus Plague News

The wealth of the 10 richest men has doubled in the coronavirus epidemic, leading to inequality that results in at least 21,300 deaths each day, according to a new report released Monday from Oxfam International.

“We are entering 2022 with unprecedented concerns,” Oxfam’s report on Inequality Kills (extending bridges) warns, arguing that the global level of extreme inequality is a form of “economic violence” against the world’s poorest people and countries.

In this highly unequal world, ethics and policy and political decisions are marred by the interests of the rich and powerful, which are causing problems for ordinary people around the world, the report said, citing the fragmentation of the COVID-19 vaccine. a good example.

“Millions of people would still be alive today if they had been vaccinated – but they have died, being denied access while major medical companies continue to dominate these technologies,” Oxfam said.

The report estimates that 252 men have more wealth than 1 billion women and girls in Africa and Latin America and the Caribbean combined. And 10 of the richest people in the world have over 3.1 billion people.

In addition, even though the rich were overweight during the epidemic, income of 99 percent of the population suffered.

The Oxfam report is usually released before the annual World Economic Forum (WEF) summit in Davos, Switzerland – but gathering of the richest and most powerful people in the world has been suspended this year due to the epidemic.

Last week, WEF release His Global Risks Report 2022 (PDF) warning that the economic crisis from the coronavirus, which many rely on for vaccine release, has widened divisions within and between countries.

It also pointed out that the growing tensions, which are exacerbated by the epidemic, are also fueling controversy, anger and disrupting international responses to climate change, economic instability and economic instability.

What went wrong?

Although the United Nations and governments have been working to eradicate poverty for the past few decades, as well as to provide technical expertise and access to education, the world has been plagued by inequality over the years.

“The modern day distribution is very much in line with ancient racist ideologies, including slavery and colonialism,” an Oxfam report said.

The report states that since 1995, the richest people in the world have robbed the world economy of nearly 20 percent of the world economy by less than 50 percent. And the plague has made matters worse.

Low interest rates and government incentives designed to support the economy to recover from the 2020 COVID-19 epidemic have also raised stock prices and other commodities, making the rich richer.

“Millions poured into financial markets and central banks to save the economy have caused a major economic collapse – and a dramatic increase in history – while the epidemic has left ordinary people poorer than it would have been,” Oxfam chief executive Gabriela Bucher told Al Jazeera.

Economic inequality is not just a matter of hurting people. It also wreaks havoc on the earth. The 20 billion people who are the richest are said to produce 8,000 times more emissions than the poorest billions, according to Oxfam.

Vaccination equity & taxation for the very rich

People living in low- and middle-income countries are twice as likely to die from COVID-19 than those living in affluent countries, according to a study by Oxfam.

In some countries, the poorest people are four times more likely to die from COVID-19, says Oxfam.

“Many have lost their jobs and millions have lost their lives. Women, apartheid groups and citizens of the Global South are the most dangerous, “Bucher told Al Jazeera.

Oxfam claims that governments have the power to change the course of history and to address “economic violence” in the first place by establishing a common ground.

A good start, he says, is to impose a permanent tax on COVID-19 benefits for the 10 richest men, which could make $ 812bn, according to the report.

“We need to repay this amazing bonanza with new finances and bigger taxes. It’s simple, logical: too heavy taxes and a waste of money on nurses, hospitals and vaccines,” Bucher told Al Jazeera.

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