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Why a decrease in global birth rates could send countries scrambling to increase immigration.

You get context.

And context changes how you see things, how you change things, because context changes everything. Go to Bloomberg

dot com to get context. Welcome to the Bloomberg surveillance podcast. I'm Tom Keene.

Daily, we bring you insight from the best in economics, finance, investment, and international

relations.

Find Bloomberg Surveillance on Apple Podcasts SoundCloud, Bloomberg.com, and of course,

on the Bloomberg.

Right now, an important interview, an important conversation with a friend of this show,

David Melpass, of course, with more than a decade of service

to what we've done at Bloomberg's surveillance

and wisdom and perspective and now holding court

at the World Bank as their president.

David, I know you never thought you would see the challenges of this pandemic.

I talk of the pandemic partition of say American inequalities.

Tell us the World Bank's pandemic partition.

What does it look like?

It's the same or worse for developing countries and for poor countries.

That takes two, the inequality is two kind of different factors.

One is poor people are worse hit by the global recession the shutdowns and and the

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