The Global Financial Meltdown: Implications for Health in Developed and Developing Economies

Abstract

The global financial crisis compounded by climate change, food, and fuel crises, has caused unprecedented changes in the world order, global health inclusive. Loss of share values in capital markets left many investors deprived and devastated, especially those with a compromised state of health. People adopt different coping behaviour as a result of the shock and aftershock. Reduction in the standard of living increased family violence, prostitution, drug addiction, mental illness, and premature deaths have been reported in different countries. Non-communicable diseases are on the rise, especially in developing countries. The World Health Organization (WHO) and technical partners took giant strides to contain many communicable diseases across the globe. These gains could be damaged by economic meltdown if donors retract their support. Globalisation efforts in the post-health revolution should find Nigeria as a donor not a receiver of aid in a world where diseases have no boundaries. It is the contention in this paper that proactive leadership is needed to navigate through these difficult times and be able to catch up with the upturn when it arrives.