"We are entering an alarming situation where many poorer countries will face increasingly burdensome debt repayments while simultaneously attempting to manage an unprecedented public health crisis – all in the context of a very deep global recession. And let us not harbor any illusions that these intersecting crises might bring an end to or the emergence of some kind of "global social democracy." As we have repeatedly seen over the last decade, capital frequently seizes moments of crisis as a moment of opportunity — a chance to implement radical change that was previously blocked or appeared impossible."

“In the face of the COVID-19 tsunami, our lives are changing in ways that were inconceivable just a few short weeks ago. Not since the 2008–9 economic collapse has the world collectively shared an experience of this kind: a single, rapidly mutating global crisis, structuring the rhythm of our daily lives within a complex calculus of risk and competing probabilities. In response, numerous social movements have put forward demands that take seriously the potentially disastrous consequences of the virus, while also tackling the incapacity of capitalist governments to adequately address the crisis itself. These demands include questions of worker safety, the necessity of neighborhood-level organizing, and social security, the rights of those ons or in precarious employment, and the need to protect renters and those living in poverty.”

“The imminent public health crisis facing poorer countries as a consequence of COVID-19 will be further deepened by an associated global economic downturn that is almost certain to exceed the scale of 2008. It is too early to predict the depth of this slump, but many leading financial institutions are expecting this to be the worst recession in living memory. Closely connected to this are the measures put in place by governments ands since 2008, most notably the policies of and repeated cuts. These policies aimed at propping ups through massively increasing the supply of ultra-cheap money to financial markets. They meant a very significant growth in all forms of debt — corporate, government, and household.”

“As with all so-called humanitarian crises, it is essential to remember that the social conditions found across most of the countries of the South are the direct product of how these states are inserted into the hierarchies of the. Historically, this included a long encounter with Western colonialism, which has continued, into contemporary times, with the subordination of poorer countries to the interests of the world’s wealthiest states and largest transnational corporations. Since the mid-1980s, repeated bouts of — often accompanied by Western military action, debilitating sanctions regimes, or support for authoritarian rulers — have systematically destroyed the social and economic capacities of poorer states, leaving them ill-equipped to deal with major crises such as COVID-19.”

“In this sense, the COVID-19 crisis has sharply underscored the irrational nature of health care systems structured around corporate profit — the almost universal cutbacks to staffing and infrastructure , the lack of provision and the prohibitive cost of access to medical services in many countries, and the ways in which the property rights of pharmaceutical companies serve to restrict widespread access to potential therapeutic treatments and the development of vaccines. However, the global dimensions of COVID-19 have figured less prominently in much of the left discussion.”

“Debates around how best to respond to COVID-19 in Europe and the United States have illustrated the mutually reinforcing relationship between effective public health measures and conditions of labor, precarity, and poverty. Calls for people to self-isolate when sick — or the enforcement of longer periods of mandatory lockdowns — are economically impossible for the many people who cannot easily shift their work online, or those in the service sector who work in or other kinds of temporary employment. Recognizing the fundamental consequences of these work patterns for public health, many European governments have announced sweeping promises around compensation for those made unemployed or forced to stay at home during this crisis. It remains to be seen how effective these schemes will be, and to what degree they will actually meet the needs of the very large numbers of people who will lose their jobs as a result of the crisis. Nonetheless, we must recognize that such schemes will simply not exist for most of the world's population. In countries where the majority of the is engaged in or depends upon unpredictable daily wages — much of the Middle East, Africa, Latin America, and Asia — there is no feasible way that people can choose to stay home or self-isolate. This must be viewed alongside the fact that there will almost certainly be very large increases in the "" as a direct result of the crisis.”

“Similarly disastrous scenarios face the many millions of people currently displaced through war and conflict. The Middle East, for example, is the site of the largest since the Second World War, with massive numbers of refugees and internally displaced people as a result of the ongoing wars in countries such as Syria, Yemen, Libya, and Iraq. Most of these people live in or overcrowded urban spaces, and often lack the rudimentary typically associated with citizenship. The widespread prevalence of and other diseases make these displaced communities particularly susceptible to the virus itself.”