Rejuvenating life, livelihood on economic inequality amidst the global crisis

ABSTRACT

Trade plays an important aspect in broadening the aperture to international merchandise and services;for instance, it allows nations to handle distress by changing suppliers when domestic or international links are disrupted. The COVID-19 pandemic's health and economic catastrophe has been a tremendous pressure for every national system, causing unparalleled distress to universal supply networks and trade associations. In nominal dollar terms, the global GDP fell by 3.3% worldwide, and trade in goods and services declined by 9.6% in 2020, ensuing in the most terrible recession since World War II. Countries that share boundaries with many other countries are predominantly susceptible to interruption in the delivery of crucial provisions due to transportation problem. The purpose of this chapter is to focus on the prevalent inequalities across all countries amidst diverse segments. © 2022, IGI Global. All rights reserved.