WASHINGTON DC: Until COVID-19, many people in the developing world felt good about their futures.
This experience holds lessons for developing countries. Dashed expectations are bad not only for individuals’ health and wellbeing, but also for a society’s ability to build and sustain democratic norms and institutions. Most are self-employed or informal workers in the food, transportation , and retail sectors within expanding urban centers. Comprising more than 3 billion people in developing countries, they are both ambitious in pursuing a better future and anxious about the constant risk of falling back into poverty.
FILE PHOTO: A donor carries rice bags to distribute to poor people during the coronavirus in Hanoi, Vietnam, on April 16, 2020. REUTERS/Kham/File Photo Add another 50 million people in middle-class households who are likely to become strugglers, and as many as 450 million people –more than the entire US population – are at risk.What does it mean for millions of people suddenly to find themselves worse off than they had expected, through no fault of their own? Latin America’s experience shows that when a vocal and demanding citizenry suffers a sharp reversal of expectations, the result is US-style social tension and political polarisation.
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