What would happen if the Amazon Rainforest ceased to exist?

The Amazon Rainforest, known as the lung of the world, is one of the main carbon dioxide absorption sources in the world.
The Amazon Rainforest is on fire! There is nothing new about it, sadly. Each year there is more news coming out about fires that consume thousand of miles of hectares. This year, more than 75,000 fires have been found reduced to ashes. Authorities have exhibited a dangerous policy of environmental flexibility that has led to a devaluation of controls related to deforestation. That is the great novelty this time: on the one hand, a more rigorous sensitivity to environmental problems, which generates immediate mobilizations in very different places in the world, and on the other, a leader who has made an obscene exhibition that he does not agree.
Fires in the Amazon area are causing an increase in the respiratory problems of the inhabitants of the region. In addition, specialists warn of the damage they will leave for the local ecosystem. Persistent smoke is causing an increase in respiratory problems, especially among children and the elderly, as fires grow in the region.
Elane Diaz, a nurse from Porto Velho, reported that: "children are more affected. They cough a lot." The number of people treated for respiratory problems increased dramatically in recent days at the children's hospital in Cosme e Damião according to the AP agency.
Gabriel Serafim, a resident of Sao Paulo, reported that “people are scared of dying because of the lack of oxygen.” When asked about who was responsible for this catastrophe he stated “the worst thing is knowing that our president is one of the biggest causes of this, since he was elected president of Brazil (Jair Bolsonaro), he started to support farmers who wanted to get clean areas for farming… also, our president did not accept money from countries who wanted to collaborate with this issue that is not only ours, it the world’s issue.”
The climate change could be extremely affected if the Amazon Rainforest would cease to exist, due that it houses at least 10 percent of biodiversity globally. It additionally produces 20 percent of the world’s oxygen and helps regulate the temperature of the entire planet.
Conserving the Amazon is everyone's obligation. The colossal tropical forest is one of the richest regions in terms of biodiversity and an essential source of oxygen. It contributes decisively to regulate the global climate; it is a large carbon dioxide sink and impacts the circulation of ocean currents. The destruction of the lung of the planet must be addressed as a global crisis. In the last 60 years the Amazon has already lost 20 percent of its surface due to deforestation. During the term of Lula da Silva (former president of Brazil), efforts were made to curb woodcutting. With the frivolous position of Bolsonaro, there is a real danger of losing control of the situation.