Transcripts for BBCNEWS World Business Report 20210601 04:37

BBCNEWS World Business Report June 1, 2021 04:37:00

back into poverty, setting back at least half a decade of economic gains. many are dipping into their precious savings to stay afloat, while others have entered into a spiral of debt. many families had to resort to liquidating to make up the temporary income shortfall. this is very unfortunate, | of course, because it has left their families vulnerable for future crises. _ a shrinking middle class that's badly cash—strapped isn't good news for business. gunish manages this mobile shop. besides intermittent lockdowns, he's dealing with another challenge — an increasingly thrifty. translation: business is down 8096. _ people are pushing off purchases. and when they're buying it's the cheaper gadgets. we are selling very few high—end phones. none of this bodes well for an economic revival in asia's third largest economy, where 60% of gdp is dependent on consumption. without government support, that fragile engine of growth is very much under threat.

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