Grind for September 24th, 2018
“For a long time I was scared I’d find out I was like my mother.”
– Marilyn Monroe
World poverty rate hits 10-year low
The World Bank on Wednesday reported a 10-year low in the global poverty rate, with the number of people living on less than $1.90 per day falling from 11.2% in 2013 to 10% in 2015.
That’s a difference of 68.3 million people.
Poverty rates dropped everywhere except the Middle East and North Africa, where ongoing conflicts in Syria and Yemen have driven the rate from 2.6% in 2013 to 5% in 2015 (a difference of 9.1 million people).
Countries that experienced a notable decrease in poverty between 2013 and 2015 include:
— Sub-Saharan Africa (42.5% to 41.1%)
— South Asia (16.2% to 12.4%)
— Latin America/Caribbean (4.6% to 4.1%)
— East Asia/Pacific (3.6% to 2.3%)
— Europe and Central Asia (1.6% to 1.5%)
South Asia has made remarkable progress, experiencing a 35% drop in poverty between 1990 and 2015 (compared to a 25% global average).
“Over the last 25 years, more than a billion people have lifted themselves out of extreme poverty, and the global poverty rate is now lower than it has ever been in recorded history,” reports the World Bank. “This is one of the greatest human achievements of our time.”
The rate of reduction is slowing, however, thanks to political upheaval and conflict in low-income countries. And while the World Bank had hoped to see the global average drop to 3% by 2030, it is likely Sub-Saharan Africa will remain in double digits for years to come.
On a brighter note, the World Bank’s preliminary forecast for 2018 is 8.6%
Coca-Cola to enter CBD market
As cannabis industries throughout the country continue to experience an economic boom, Coca-Cola is considering developing drinks infused with cannabidiol (CBD).
CBD is a cannabis plant compound widely used for medicinal and therapeutic properties. Unlike THC, it does not get you high.
CBD oil is increasingly used to alleviate pain and swelling and to decrease anxiety in humans and pets. Scientists are currently studying how CBD could be used to treat epilepsy, neurological diseases, cancer, and mood disorders.
By 2020, the CBD market is expected to be worth $2.1 billion.
“Along with many others in the beverage industry, we are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world,” said Coca-Cola. “The space is evolving quickly. No decisions have been made at this time.”
Coca-Cola is supposedly in contact with Canadian cannabis company Aurora Cannabis, whose stock shot up 17% in response to the news.
“As a rule, we do not discuss business development initiatives until they are finalized,” said Aurora. “However we have a responsibility to our shareholders to give proper consideration to all relevant opportunities that are presented.”
In August, Corona-maker Constellation announced a $4 billion investment in Canadian weed company Canopy Growth, sending the company’s stocks surging 30.4%.
Canadian companies have attracted US interest since June, when the country voted to legalize the recreational use of marijuana. Legalization will go into effect next month on October 17th.
GOOD TO THE LAST DROP:
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