As the Omicron variant of COVID-19 rips through the world\u2019s population, the World Bank has forecast slowing global growth for 2022 as well as the following year in its\u00a0Global Economics Prospects\u00a0report issued on Tuesday.<\/p>\n
While it was certainly not its intention, the report is an exposure of the claims by capitalist governments that no serious public health measures can be undertaken to eliminate the pandemic because they would be detrimental to the \u201ceconomy.\u201d<\/p>\n
In fact, as the figures in the report make clear, the policy of \u201clet it rip\u201d being pursued by virtually all governments is producing ever worsening economic conditions. No changes will be made, however, as the economy is completely subordinated to finance capital which opposes any measures that impede the accumulation of wealth in the hands of a rapacious oligarchy.<\/p>\n
The post World Bank Downgrades Global Growth Forecast<\/a> appeared first on PopularResistance.Org<\/a>.<\/p>\n\n