China Xiaokang Network October 19th News Lao Ma Cairo 's cost of living soared, so that security guard Mustafa Gamal had to send his wife and one-year-old daughter to a village 70 miles south of the capital of Egypt to live with his parents, saving money.
Workers gathered outside a used auto parts store in the industrial area of Nairobi, the capital of Kenya, waiting for customers
AP reported that 28-year-old Gamar stayed, did two jobs, lived in an apartment with other young people, and removed meat from his diet. “The price of everything doubled,” he said. "There is no choice."
People around the world are sharing Jamal's pain and depression. The same complaints were made by the auto parts dealers in Nairobi , the baby clothing sellers in Istanbul and the wine importers in Manchester, UK: the surge in the dollar devalued the local currency, causing the prices of daily goods and services to soar. Families around the world are already facing food and energy austerity related to the Russian-Ukrainian war, which has exacerbated financial difficulties. "The strong dollar makes the bad situation worse in the rest of the world," said Eswar Prasad, professor of trade policy at Cornell University. Many economists are worried that the sharp rise in the dollar is increasing the likelihood of a global economic recession sometime next year.
