Economics
Millions of Middle Class Southeast Asians Are Falling Into Poverty
- Region losing work hours equal to 48 million jobs, survey says
- Economies could take years to fully recover lost jobs, incomes
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As the coronavirus pandemic derails economies worldwide, many of the newly poor will come from Southeast Asia, dealing a huge setback to a region that had been prospering from a surging middle class.
The job losses are pausing the outsized boom Southeast Asia has experienced in recent years, with economies possibly taking years to fully recover.