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| Issue: 2 Volume: 1 |
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Global Economy World Bank research shows crisis worsening povertyNew research showed more people were being pushed into poverty in developing countries due to the global financial crisis. Estimates compiled by the bank in 2009 show that weaker economic growth will push 46 million more people below the poverty line of $1.25 a day than was expected before the crisis emerged in 2007. Food prices may increase 30 - 35% in next ten yearsAn UN agency has warned food prices may increase up to 30 - 35 per cent within the next ten years, forcing those living in extreme poverty to spend 90 per cent of their income on it. Can economic rescue plans also save planet?With governments around the world continuing to pump colossal sums of money into their plunging economies, a grand global experiment is under way: can the unprecedented spending provide not only a quick fix for the economic catastrophe but also the measures vital for dealing with global warming. China and India will continue to growChina and India will continue to grow, though quite a bit slower than it is today and this is good news for the rest of the world too amid global recession. |
