#1. COVID has wiped out the economic dreams of a generation in Asia
Young people in Asia are faced with the prospect of being financially worse off than their parents for the first time in decades. This is due to the fact that most young people are at the beginning of their careers and work in sectors that have been badly hit by the COVID-19 pandemic. Among those are industries such as wholesale, manufacturing, business services, and accommodation and food service, reports Bloomberg. Women and people who have recently entered the labour market are the most exposed. Consequently, the World Bank anticipates that the current situation will result in additional 38 million people living in poverty.