After one of the most severe recessions the world has ever seen, it is unsurprising that global discussion has centred on economic recovery from the pandemic. Despite government funding, the International Labour Organisation warns that large corporations, small-businesses and individuals have all been left in struggling economic positions. Uncertainty about the efficacy of the COVID-19 vaccines against new strains has left some economic predictions hesitant about short-term recovery.
Yet, with more than 2.96 billion vaccines rolled out across the world as of June 28th, according to the New York Times Covid Vaccination Tracker, some other recent economic forecasts have taken a sharp upward turn. Indeed, the future is looking brighter – the Organisation for Economic Co-operation and Development recently revised the figure for global economic growth this year from 4.2% to 5.8%.
Nouriel Roubini, an American economist, writing for the Guardian in May, warned that recovery from COVID-19 is unlikely to be spread evenly between countries. Roubini contends that more “fragile” countries with weaker health care systems and higher population densities will struggle to make a quick economic recovery while countries that have had a faster vaccine roll-out may see economic bounce-back.
Looking beyond economic growth, a group of community organizations have developed six principles entitled ‘Just Recovery for All’:
Put people’s health and wellbeing first – no exceptions
Strengthen the social safety net and provide relief directly to people
Prioritize the needs of workers and communities
Build resilience to prevent future crises
Build solidarity and equity across communities, generations, and borders
Uphold Indigenous rights and work in partnership with Indigenous peoples
These principles are being upheld to promote an “equitable, resilient, and sustainable society.” The ‘Just Recovery for All’ group recognizes that opportunities to build new foundations for growth, can emerge from the COVID-19 crisis.
Mirroring many of the grassroots and community-driven values at The Corner, ‘Just Recovery for All’ urges neighbours to spread the word and support the campaign with the hashtag #JustRecoveryforAll.